Listening to Local Concerns Amid Fears of Delays from the October 15 Measures
Accelerating the Project with Rapid Integrated Planning 2.0
"I Will Faithfully Serve as a Bridge"
On the 28th, Seoul Mayor Oh Se-hoon, who visited Garibong 2 District in Guro-gu, Seoul, explained the support direction for the rapid integrated planning redevelopment. Seoul City
Seoul Mayor Oh Se-hoon visited the redevelopment site in Garibong-dong, Guro-gu, and addressed concerns stemming from the October 15 real estate measures, stating, "For areas where housing prices have not risen, I will recommend lifting the regulations."
On the 28th, Mayor Oh inspected Garibong 2 District, listening to local issues and difficulties. This area switched its development approach after being removed from the New Town Zone in 2014 and is currently undergoing rapid integrated planning.
Mayor Oh's visit to Garibong 2 District was prompted by anticipated challenges in project implementation due to the October 15 measures. If the area is designated as a speculative overheating or adjustment zone, restrictions such as the transfer of membership rights, a five-year ban on re-winning housing allocations in redevelopment projects, and stricter loan regulations could lead to reduced transactions and lower consent rates among members.
During a resident meeting that day, Mayor Oh stated, "While I understand the intent of the October 15 measures, areas such as Geumcheon, Gwanak, and Guro (Geum·Gwan·Gu) and Nowon, Dobong, and Gangbuk (No·Do·Gang), where housing prices have not increased, have been excessively restricted. This has created an environment where the economic support measures for redevelopment, painstakingly established by the Seoul Metropolitan Government, cannot function properly."
He continued, "It appears the government took these steps hastily, without fully considering such side effects. I will serve as a bridge to faithfully convey on-site feedback, so that exceptions or transitional provisions can be introduced, or areas where there has been no movement in housing prices can be excluded from these zones."
Mayor Oh also said, "Through the appointment of fair process facilitators, we plan to eliminate or minimize sources of conflict that may arise from government actions. Regarding financial issues, starting next year, we will utilize the housing fund to help those in difficult circumstances participate in the project without financial burden, thereby fostering a supportive environment."
Garibong 2 District has seen little change in local development since being removed from the New Town plan in 2014 and designated as an urban regeneration area. The city finalized the rapid integrated planning redevelopment in June 2023, aiming to create a 'G-Valley job-residence proximity housing complex' suitable for the aging residential environment and the Gasan-Daerim metropolitan center. An additional 800 new housing units will also be supplied.
The city's '2030 Basic Plan,' announced in September last year, has also been reflected. Upgrading some areas to quasi-residential zones and easing the standard floor area ratio by 20% has dramatically improved project conditions.
Furthermore, the application of the Rapid Integrated Planning 2.0 standards is expected to accelerate the project. The city plans to shorten the redevelopment period from the current 18 years and 6 months to 12 years through regulatory innovation in permitting. Additionally, the city will hold fair process meetings to manage progress and appoint conflict management officers to minimize potential disputes in advance.
Mayor Oh stated, "In the case of Garibong 2 District, 400 housing units will be demolished and more than 1,200 new units will be supplied, resulting in a net increase of 800 units. If those eligible for the additional 800 units are unable to move in, this will sequentially impact the housing ecosystem, causing losses for hundreds or even thousands of people."
He added, "I will fully communicate these issues to the central government and ensure that the redevelopment and reconstruction projects are not adversely affected, even if the policy content needs to be revised or amended. This is a repeated promise from the Seoul Metropolitan Government, and it is one that we will absolutely keep."
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