Baekkwang Industrial is showing strong performance. This is attributed to the government's announcement to lift the Greenbelt restrictions adjacent to Seoul and supply new residential sites.
As of 2:34 PM on the 9th, Baekkwang Industrial is trading at 9,100 KRW, up 7.44% compared to the previous day.
The government held a real estate-related ministerial meeting the day before and announced the "Plan to Expand Housing Supply for National Residential Stability," which includes these measures. Previously, through the '1·10 Measures,' the government planned to lift Greenbelt restrictions to supply 20,000 new residential units in the metropolitan area. This time, the supply volume has been increased fourfold, and it was clarified that the Greenbelt areas to be lifted include Seoul and areas adjacent to Seoul.
The Seoul Greenbelt has not been lifted on a large scale since the Lee Myung-bak administration removed about 5㎢ in areas such as Naegok-dong in Seocho-gu and Segok-dong in Gangnam-gu between 2009 and 2012 to build public rental housing.
The Seoul Greenbelt covers 149.09㎢, accounting for 24.6% of Seoul's area, but most of the northern Greenbelt areas are mountainous and unsuitable for residential development. Ultimately, there is speculation that the option would be the Greenbelt in the Gangnam area.
Meanwhile, Baekkwang Industrial is known to own about 20,000 pyeong of natural greenbelt land in Gocheok-dong.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
