‘Seoul-type Regional Housing Association Management Measures’ Follow-up
Notification to District Offices for 12 Slow-progressing Projects
The Seoul Metropolitan Government is set to reorganize local housing cooperatives whose projects have been delayed or whose contacts have been lost. This is a follow-up measure to the ‘Seoul-type Local Housing Cooperative Management Plan’ announced last June.
According to the city on the 27th, a total of 15 cooperatives are subject to reorganization. Among them, three cooperatives, including the Wolgye Station and Wolgye-dong local housing cooperatives in Nowon-gu and the Oksu local housing cooperative in Seongdong-gu, have experienced long-term project delays (over 20 years) since the approval of cooperative establishment. The city plans to notify the relevant district offices and support the dispatch of legal and accounting experts (public specialists) to minimize member damages and prepare administrative measures for the cooperatives and agencies. Additionally, 12 other cooperatives with a small number of members and stalled projects, such as the tentative Cheonho Station A1 local housing cooperative in Gangdong-gu and the Boramae-dong and Sinwon-dong local housing cooperatives in Gwanak-gu, have also been notified to the respective district offices.
For cooperatives whose sunset deadlines have passed, the city will order the holding of general meetings to decide whether to terminate the projects. To this end, the ‘Seoul-type Local Housing Cooperative Dissolution General Meeting Guidelines’ will be distributed, and public lawyers will be supported to attend the meetings. Projects that fail to comply will be subject to prosecution.
In cases where cooperatives are dissolved, the city will support the dispatch of liquidation support teams and coordinators. The liquidation support teams, composed of experts such as lawyers and accountants, will provide advice to prevent liquidation plans unfavorable to members, while coordinators will assist in finding project methods suitable to local conditions.
Conversely, for cooperatives with smooth project progress, the city will provide active administrative support such as designation and planning decisions of district unit planning zones, and rapid review and consultation from project plan approval to completion, helping them proceed quickly through redevelopment procedures.
Han Byung-yong, Director of the Housing Office of Seoul City, said, “We will prevent the proliferation of local housing cooperatives and reorganize those that have caused damages due to long-term project delays. Based on the local housing cooperative management plan, we will resolve obstacles to ensure that ongoing projects do not increase the burden and damages to members.”
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