"Over 10,000 '30-Year Apartments'... Will Reconstruction Boom in Yongin City?"

Yongin City Hosts 'Maintenance Project Academy' by Experts
Expecting Project Acceleration Following Abolition of Old Apartment Safety Inspections Policy

'10,247 households.' This is the number of aging apartment units over 30 years old in Yongin City, Gyeonggi Province. The number of apartments over 30 years old in the Yongin area will increase sharply after next year. This is because apartments built intensively in the mid to late 1990s, including Suji 1 and 2 districts adjacent to Bundang New Town in Seongnam, will sequentially reach 30 years since completion starting next year. According to Yongin City, by 2029, there will be 64 apartment complexes with a total of 29,489 households reaching 30 years since completion.

Apartment complex in Yongin area. In Yongin, the number of apartments over 30 years old that do not require a safety inspection during the reconstruction process will increase to 30,000 units by 2029.
[Photo by Yongin City]

Yongin City is preparing to respond to the expected rapid increase in reconstruction and redevelopment demand. The city announced on the 18th that it will hold a 'Maintenance Project Academy' twice, in the first and second halves of this year, targeting residents of maintenance project promotion complexes.

This follows the recent government relaxation of reconstruction requirements for aging apartments to expand housing supply. Earlier, on the 10th, the government announced a fast track allowing apartments over 30 years old to start reconstruction procedures without a 'safety inspection.' Additionally, the aging criteria, which previously required that buildings over 30 years old constitute at least two-thirds of the total, will be lowered to 60%, among other regulatory relaxations in the Urban and Residential Environment Maintenance Act enforcement decree.

At the academy, lectures will be provided by experts with high experience and understanding of maintenance projects, including members of the Urban Dispute Mediation Committee such as lawyers, appraisers, and accountants. Educational materials that residents can refer to during the maintenance project promotion process will also be provided.

The academy sessions will last 2 to 3 hours each and will be conducted upon application from interested residents. The lectures will cover ▲Understanding and promotion procedures of maintenance projects ▲Association operation and consent procedures ▲Establishment of maintenance plans and project implementation approval ▲Approval of management disposition plans, and other key procedures and issues related to maintenance projects.

Currently, six sites in Yongin City are undergoing reconstruction maintenance planning services: Suji Samsung 4th, Suji Samsung 2nd, Suji Hanseong, Gugal Hanseong 1st, Gugal Hanseong 2nd, and Gongsin Yeonrip. Each complex is in the process of administrative procedures such as on-site surveys, safety inspections, and selection of service providers.

A Yongin City official stated, "We will administratively support the rapid and transparent progress of local projects by communicating with residents regarding the expected rapid increase in reconstruction and other maintenance projects."