New Town Comparable to Bundang, 30 Minutes from Yeouido... Gimpo Hangang 2 Designated as Public Housing District

First New Residential Site Announced by Yoon Seok-yeol Government
"Compensation and Site Development to Proceed Concurrently for Prompt Supply"

A new town, Gimpo Hangang 2, comparable in size to Bundang in Gyeonggi Province, will be developed 30 minutes away from Yeouido, Seoul.

The Ministry of Land, Infrastructure and Transport announced on the 30th that consultations with related agencies and the review by the Central Urban Planning Committee for Gimpo Hangang 2 have been completed, and the designation of the public housing district will be officially announced on the 31st.

Gimpo Hangang 2 is the first new housing site announced under the Yoon Suk-yeol administration. It will be developed on a 7.31 million square meter site covering Masan, Unyang, Janggi-dong in Gimpo City, and Yangchon-eup, with approximately 46,000 housing units. The first sale is targeted for 2030. When combined with the existing Gimpo Hangang 1 district (56,000 units), Gimpo Janggi district (5,000 units), Gimpo Yanggok district (5,000 units), and Gimpo Gamjeong 1 district (4,000 units), the total will reach 116,000 housing units, creating a new town on the scale of Bundang (97,600 units).

The Ministry of Land said, "It is expected to become a key city in the western metropolitan area," adding, "To expedite housing supply, compensation and site development will be carried out simultaneously, and housing construction and sales will proceed sequentially starting with complexes where site development is completed."

Gimpo Hangang 2 will introduce the concept of a 'compact city,' which concentrates urban functions around railway stations and promotes high-density development. Currently, plans are underway to extend Seoul Subway Line 5 through Geomdan to Gimpo Hangang 2.

The Ministry plans to promptly proceed with administrative procedures such as the review by the Metropolitan Transportation Committee, inclusion in the 4th Metropolitan Transportation Implementation Plan, and application for preliminary feasibility study for the extension project of Seoul Subway Line 5 to Gimpo Geomdan. Through this, a rail-centered public transportation system enabling access to Yeouido within 30 minutes will be established, and road measures will be devised to improve traffic conditions in surrounding areas by resolving bottlenecks.

Park Sang-woo, Minister of Land, said, "The Gimpo Hangang 2 public housing district will provide opportunities for young people and low-income households without homes to own a house, while also addressing the serious local traffic congestion issue," adding, "The government will swiftly complete the designation of districts such as Pyeongtaek Jije (33,000 units), Guri Topyeong 2 (18,500 units), Yongin Idong (16,000 units), and Osan Segyo 3 (31,000 units) by next year, supplying a total of 150,000 housing units in the metropolitan area including Gimpo Hangang 2."