[GB Release 50,000 Households] Seocho Seoripul and Goyang Daegok Station Area Among 4 Locations... First Sale in 2029

Announcement of 50,000 Housing Units Supply Locations in the Metropolitan Area
20,000 Units in Seoul · 30,000 Units in Gyeonggi
Seoripul 'Own Home in Advance' Over 10,000 Units
"Reducing Procedures to Designate District by 2026"
Seoul City Will Not Further Release Greenbelt

The government will lift the development restriction on the greenbelt (GB) in the Seoripul district of Seocho-gu, Seoul, to supply 20,000 new housing units. In addition, a total of 30,000 units will be offered in three districts in Gyeonggi Province, where long-term development was hindered due to concerns about indiscriminate development or the presence of military bases. These include Goyang City's Daegok Station Area District (9,000 units), Uiwang City's Ojeonwanggok District (14,000 units), and Uijeongbu City's Yonghyeon District (7,000 units).

On the 5th, the Ministry of Land, Infrastructure and Transport announced the supply plan for 50,000 of the 80,000 new housing units in the metropolitan area announced in the 'Housing Supply Activation Plan' last August. Administrative procedures will be shortened to begin district designation in the first half of 2026, with the first sales starting in 2029.

20,000 Housing Units to be Supplied in Seoripul District near Cheonggyesan Entrance Station, Seoul

The four districts announced this time will be developed by lifting the greenbelt (GB) restrictions. Except for 87% of Uiwang City's Ojeonwanggok District, the greenbelt lifting ratio for the other three districts is about 98-99%. This is the first time in 12 years since the Lee Myung-bak (MB) administration in 2012 that the greenbelt has been lifted for large-scale housing supply.

In Seoul, 20,000 housing units will be supplied in the Seoripul district near Cheonggyesan Entrance Station on the Shinbundang Line. Of these, 11,000 units, accounting for 55%, will be offered as Long-term Jeonse Housing 2 (My Own Home in Advance) for newlyweds. Long-term Jeonse Housing 2 allows residents to extend their stay for up to 10 years after 10 years of residence depending on the number of children born. It features the ability to convert to sale at a price lower than the market price after 20 years (90% for two children born, 80% for three children born).

This area is served by the Shinbundang Line, the Metropolitan Area Express Railway (GTX) Line C (Yangjae Station), and others. Nearby, the Gyeongbu Expressway, Gangnam Circular Urban Expressway, and Bundang Naegok Urban Expressway make regional access convenient.

Park Sang-woo, Minister of Land, Infrastructure and Transport, said, "The Seoripul district has already been damaged and has relatively low value to be preserved as a greenbelt. We minimized the area of lifting by improving land use efficiency and plan to develop it as a child-friendly residential complex centered on public housing to ensure public interest is not compromised." He added, "The belief that quality housing will be supplied in a good location also helps manage the current real estate market. If people are anxious, they might borrow heavily and buy houses recklessly, but this announcement is expected to counter speculative demand trying to buy houses excessively."

When developing by lifting the greenbelt, the current law applies a floor area ratio of 250%, but it can be further relaxed if necessary. The Ministry of Land, Infrastructure and Transport and Seoul City stated that 20,000 units will be supplied smoothly through high-density development around stations. However, Seoul City firmly stated that there will be no additional greenbelt lifting.

30,000 Housing Units Supplied in Three Gyeonggi Districts... 'Self-sufficiency Function' is Key

Minister of Land, Infrastructure and Transport Park Sang-woo is speaking at the Real Estate Ministers' Meeting held at the Government Seoul Office Building last August. / Photo by Yonhap News

The Daegok Station Area District in Goyang, where 9,000 units will be supplied, is a key railway transportation hub where five lines meet, including Line 3, Gyeongui-Jungang Line, Seohae Line, the GTX A Line scheduled to open at the end of this year, and the Gyeongui Line. The Ministry of Land, Infrastructure and Transport explained that the construction of a complex transfer center and surrounding development to improve station accessibility and transfer convenience are urgent. Minister Park said, "Once the complex transfer center is built, we will place self-sufficient and office facilities around it to create a knowledge convergence complex, transforming it into the center of the northwest metropolitan area."

The Ojeonwanggok District in Uiwang is close to Gyeongsu-daero and the Gwacheon-Bongdam urban expressway. It is advantageous for attracting medical and bio industries linked with the adjacent Gwacheon Knowledge Information Town. Securing self-sufficiency functions through this will create a new live-work space in the southern metropolitan area. 14,000 units will be supplied here. The Ministry of Land, Infrastructure and Transport plans to consider adding new stations to strengthen connections with railways (GTX C Line, Dongtan?Indeokwon Line).

The Yonghyeon District in Uijeongbu (7,000 units) has long been undeveloped due to the military base, which cut it off from the surrounding urban area. It will be developed as an integrated living zone linked with the nearby developing Legal Town and existing urban areas. The Ministry expects it to revitalize the city by supplementing cultural, sports, and self-sufficient facilities that were lacking in the existing urban area within the district. Additionally, accessibility will be improved via GTX C Line and the extension of Line 7, and traffic volume will be dispersed by improving surrounding arterial roads and intersection traffic systems.

The Ministry of Land, Infrastructure and Transport will establish specific development directions for each district until district designation and plan formulation. To this end, they will have sufficient discussions with local governments and experts. They plan to consider location characteristics, specialized plans by local governments, and the development effects linked with surrounding areas. Furthermore, administrative procedures will be shortened by advancing compensation surveys and district plan formulation before district designation.

Minister Park said, "If necessary, we will also promote the supply of some original land, aiming to shorten the housing supply period as much as possible with district designation in the first half of 2026, first sales in 2029, and first move-in in 2031." He added, "In the first half of next year, we will announce an additional 30,000 units in locations preferred by the public."