Minister of Land, Infrastructure and Transport: "Selecting Candidate Sites for Relocation Complexes Due to Reconstruction of 1st Generation New Towns"

Sangwoo Park, Minister of Land, Infrastructure and Transport

On the 18th, Park Sang-woo, Minister of Land, Infrastructure and Transport, announced that the selection process is underway for candidate relocation sites where residents will live during the reconstruction period of the first-generation new towns.

Minister Park appeared on KBS's 'Sunday Diagnosis Live' on the same day and said about the reconstruction of the first-generation new towns, "Once the pilot districts are designated in the second half of this year, these areas will be able to start construction within the president's term." The government plans to designate pilot districts for reconstruction in the first-generation new towns in the second half of this year, and next year, to establish at least one relocation site each in Ilsan, Bundang, Jungdong, Pyeongchon, and Sanbon.

Minister Park added, "The district with the highest resident agreement is likely to be designated as the pilot district." He explained that the resident consent rate is the most important requirement.

Minister Park said, "We are working closely with local governments to secure sufficient relocation sites for redevelopment projects and are in the process of selecting several candidate sites to find suitable relocation areas."

In response to a question about whether reconstruction would be difficult if profitability is low even after the easing of safety inspection regulations announced in the 1·10 measures, he replied, "After 5 to 10 years, areas that currently lack profitability will be able to secure it," and added, "We plan to prepare various support measures to enable reconstruction projects at that time."

The Ministry of Land, Infrastructure and Transport is also considering changing the name of the 'safety inspection.' Minister Park said, "While the safety inspection procedure is necessary, its content needs to be revised, and personally, I hope the name 'safety inspection' itself will be changed to a term that is easier for the public to understand."

Regarding the rise in jeonse (long-term lease) prices, Minister Park stated, "Since rising jeonse prices have a significant impact on people's livelihoods, we are carefully monitoring the market," and added, "Traditionally, December and January are moving seasons when jeonse prices tend to rise, but the upward trend that began in August last year has slowed down considerably now." He also mentioned that the introduction of an escrow system for payment deposits to prevent jeonse fraud is being positively considered.

Regarding the decision on the extension route of Subway Line 5, Minister Park said that if local government residents gather opinions and officially submit them to the Ministry of Land, Infrastructure and Transport, the final decision will be made by May this year.

He explained that even if the railway undergrounding project proceeds in the metropolitan area, local regions can also benefit. Minister Park added, "Since the metropolitan area and local areas will be managed as one nationwide financial pool, local cities will also be able to benefit from railway undergrounding."