Initiation of Commercialization Strategy for Samcheok City Pilot Project Site Development
Industrial Environment Analysis Targeting Migrant Workers' Jobs and Tourism Facilities
Expansion of Local Public Enterprises' Activities Following Relevant Law Amendments
The blueprint for 'Gold City,' a project promoted by the Seoul Metropolitan Government for retired Seoul citizens, is emerging. It is a 'win-win circular city creation project' that provides new housing to citizens moving to provincial areas after retirement and redistributes existing Seoul housing to young people and others. Currently, the project is underway in Samcheok, Gangwon Province, and Boryeong, Chungcheongnam-do, with work beginning on detailed planning.
According to the Seoul Metropolitan Government on the 2nd, the city and Seoul Housing and Communities Corporation (SH Corporation) recently started establishing a commercialization strategy to develop a pilot project site for Gold City in Samcheok-si, Gangwon Province.
Gold City is a housing model devised by Seoul to address the crisis of provincial extinction and Seoul's housing shortage. The core idea is to create residential areas in provincial regions with a clean environment, equipped with jobs and medical facilities, allowing residents to live with affordable housing costs. At the same time, the Seoul housing owned by migrants is purchased or leased by the public sector and re-supplied to office workers, newlyweds, and others.
The first project site was selected last November, but no local public enterprise stepped forward to lead the development. Unlike national public enterprises, local public enterprises can only operate within their jurisdictional local governments. However, last month, amendments to the 'Local Public Enterprises Act' and the 'Local Investment and Contribution Act' were prepared to allow local public enterprises to operate beyond their jurisdictions. Accordingly, SH Corporation has begun detailed planning, targeting the first project site in Samcheok-si, Gangwon Province.
The plan is expected to include building about 2,700 apartment units and detached houses on a 500,000㎡ site around Samcheok-si. Since this is the first introduction of the 'Gold City' model nationwide, an analysis of Samcheok-si's industrial environment will be conducted to link jobs for migrants. This includes surveys of commercial, office, and tourism facilities, which Seoul explains is part of the process to establish self-sustaining functions.
A survey targeting prospective Gold City residents will also be conducted. The plan is to actively reflect all aspects, including job demand, housing conditions, and types, in future residential area development. In this process, operational plans of similar models such as Namhae German Village, Solar City, and Eco-Smart Healing City are expected to be referenced.
Public interest in Gold City is high. In a recent survey conducted independently by SH Corporation, 6 out of 10 Seoul citizens expressed willingness to move to Gold City. The survey targeted 1,500 Seoul citizens aged 40 and above, who cited 'affordable housing costs' (40.3%) as the greatest advantage.
Once the detailed plan for Samcheok-si Gold City is finalized, the creation of second and third Gold Cities is expected to gain momentum. Following Samcheok-si, an agreement to build Gold City in Boryeong-si, Chungcheongnam-do, was already signed last July. This project also aims to create about 3,000 new housing units along with specialized facilities such as tourism, recreation, medical, and educational facilities in the Boryeong area. SH Corporation is also reportedly discussing the mid- to long-term promotion of 'Gold Towns,' Gold Cities developed in the Seoul metropolitan area adjacent to Seoul, such as the 3rd New Towns.
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