Seoul City is joining forces with Korea Land and Housing Corporation (LH) to revitalize redevelopment projects using the 'Moatown' method.
On the 4th, Seoul City announced that it signed a 'Public Participation Moatown Successful Promotion Business Agreement' with LH at the Seosomun 2 Building of Seoul City Hall. The signing ceremony was attended by Han Byung-yong, Director of Housing at Seoul City, and Park Hyun-geun, Head of LH Seoul Regional Headquarters.
Moatown is a district-level redevelopment method that groups together old low-rise residential areas where large-scale redevelopment is difficult, developing them like a large apartment complex. Last year, six pilot sites in Pungnap-dong, Ssangmun-dong, Seokgwan-dong, and Wolgye-dong were selected through SH. In the current public contest running from the 2nd to the 13th, about 10 target sites will be selected. The final sites will be chosen in November.
Through this business agreement, Seoul City will be responsible for supporting costs such as establishing public management plans for Moatown and development concepts, as well as administrative support including permits and approvals. LH will cooperate in tasks related to joint project implementation within Moatown, establishing management plans, supporting the formation of associations, and analyzing project feasibility.
Han Byung-yong, Director of Housing, said, "With LH participating in the projects previously conducted with SH, the conditions for Moa Housing projects will improve," adding, "We expect this to become a new driving force for small-scale housing redevelopment projects that have faced difficulties in project promotion."
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