Gwangmyeong 3 District Selected as Public Redevelopment Candidate Site... Reborn as a Large Complex with 2,126 Households

Gwangmyeong 3 Public Redevelopment Candidate Site Selection Area

Korea Land and Housing Corporation (LH) announced on the 8th that 'Gwangmyeong 3 District' in 144-1 Gwangmyeong-dong, Gwangmyeong-si, Gyeonggi-do, has been selected as a candidate site for the public redevelopment project. Approximately 2,126 new housing units are planned to be supplied near Gwangmyeongsageori Station (Line 7).

The public redevelopment project is a program in which the public sector participates in areas that meet the criteria for redevelopment zones, such as aging conditions, to expand housing supply within urban areas. It has the advantage of enabling rapid project implementation through various incentives, including relaxation of urban regulations like floor area ratio and simplification of procedures.

Gwangmyeong 3 District was designated as a preservation management zone within the Gwangmyeong Redevelopment Promotion District in 2009. In 2021, it applied for public redevelopment during the private proposal integrated contest but was deferred as a candidate site due to irregular district boundaries and other reasons.

However, with an aging rate reaching 70% and a high necessity for redevelopment, as well as strong local residents' willingness for regional development, there was momentum to proceed with the project. Accordingly, LH actively consulted with related agencies and residents regarding the regularization of district boundaries and held a selection committee with participation from related agencies. As a result, Gwangmyeong 3 District was finally selected as a candidate site for public redevelopment.

LH plans to hold an on-site briefing session for residents of Gwangmyeong 3 District to explain the preliminary redevelopment plan (draft) and project implementation plans, gather residents' opinions, and promptly proceed with follow-up measures such as designation of the redevelopment zone.

The Ministry of Land, Infrastructure and Transport, Gyeonggi Province, and Gwangmyeong City will work to manage the real estate market by implementing preventive measures against practices such as parcel splitting, uneconomical construction activities (new construction, etc.), and sales fraud in Gwangmyeong 3 District.

Meanwhile, LH is currently promoting 20 public redevelopment projects (approximately 27,000 housing units) in the Seoul and Gyeonggi areas, including Gwangmyeong 3 District. Among these, four districts, including Seoul Sinseol 1 and Jeonnong 9, have completed proposals for redevelopment plan formulation.

Park Hyun-geun, Director of Urban Redevelopment Planning at LH, said, "Through continuous consultations among LH, related agencies, and residents, Gwangmyeong 3 District was selected as a new candidate site for public redevelopment. Since residents have long desired the project, we will strive to supply quality housing within the city through swift project implementation."