Will Jangchung-dong Station Area Be Developed?

Between Dongdaemun History & Culture Park Station and Dongdaemun Entrance Station near 112 Jangchung-dong 2-ga... Residents Strongly Request Resident Briefing Session to Be Held at 7 PM on the 13th

[Asia Economy Reporter Jongil Park] Jung-gu, Seoul (Mayor Kim Gilsung) will hold a "Visiting Residents Briefing Session" on the topic of the transit station area long-term lease housing project at 7 p.m. on the 13th in the multipurpose hall on the 8th floor of the Paradise Building in Gwanghui-dong.

The target area is around 112 Jangchung-dong 2-ga, Jung-gu, covering approximately 58,000㎡. It is located along Toegye-ro, between Dongdaemun History & Culture Park Station and Dongdaemun Entrance Station on the subway line. Despite its excellent location, it has long been constrained by height restrictions and other factors. It is one of the few remaining low-rise dense deteriorated areas in the city center.

Currently, redevelopment movements are active mainly among residents. Although it has not yet been designated as a maintenance zone, this briefing session is being held in response to strong requests from residents.

At the residents briefing session, about 200 residents including landowners will attend, where the concept and advantages of the transit station area long-term lease housing project, project requirements and procedures, and actual cases will be introduced in sequence. A Q&A session will also be provided for attendees to freely ask and answer questions.

Since various possibilities are open regarding the project method, Jung-gu aims to provide diverse information and resolve questions through the briefing session to help residents make appropriate decisions in the future. This also includes guidance on long-term lease housing, one of the four types of transit station area development projects, rather than typical housing redevelopment projects.

The transit station area long-term lease housing offers benefits such as land category upgrades and floor area ratio incentives not available in general housing redevelopment, reducing the burden of owner contributions and increasing land value. From a public perspective, it also enhances population inflow effects, helping to resolve urban slum issues.

Transit station area development projects are a win-win strategy that promotes private complex development through incentives like increased floor area ratio while securing necessary public facilities nearby. The project types include ▲transit station area long-term lease housing ▲transit station area youth housing ▲transit station area revitalization ▲transit station area complex development. When residents establish a project plan, it goes through preliminary review by the district office and approval by Seoul City before being finalized.

Jung-gu is laying the foundation for high-density complex development, a key strategy of the 8th municipal administration's urban maintenance, by frequently holding residents briefing sessions to inform residents, developers, and licensed real estate agents about various maintenance projects. Additional visiting residents briefing sessions are scheduled for the 19th, 20th, and 27th of this month.

Kim Gilsung, Mayor of Jung-gu, said, "We will visit and provide necessary information whenever residents want," adding, "We will help select project methods suitable for local conditions to promptly improve the deteriorated living environment."