Seoul Selects Six Sites Including Gaebong-dong and Bulgwang-dong as Shintong Planning Candidates to Push Redevelopment

A total of 154 sites selected for Shintong Planning so far

Aged low-rise residential areas

Securing project profitability in line with local conditions

The Seoul Metropolitan Government announced on February 25 that it has selected six locations, including Gaebong-dong in Guro-gu, Bulgwang-dong in Eunpyeong-gu, Okcheon-dong in Seodaemun-gu, and Guui-dong in Gwangjin-gu, as candidate sites for the “Rapid Integrated Planning (Shintong Planning)” housing redevelopment project.

With this decision, the total number of Shintong Planning candidate sites has increased to 154. By applying Shintong Planning 2.0 to these candidate sites, the city plans to promote the projects by significantly shortening the redevelopment project period from 18 years and 6 months to 12 years through streamlined licensing procedures and fair process management.

The areas around 66-15 Gaebong-dong and lots 442 and 445 in Bulgwang-dong are low-rise residential zones where 70% of buildings are aged and more than 50% of homes are semi-basement units, making residential environment improvements urgently needed. Around lot 123-2 in Okcheon-dong and lot 46 in Guui-dong, more than 70% of residents support the project, indicating strong willingness for resident participation. The area around lot 792-33 in Guro-dong, adjacent to G Valley, is expected to become a living and leisure space linked to surrounding development projects.

The selected candidate sites will receive subsidies for establishing redevelopment plans. Building on the previous reduction of the average time required for designation as a redevelopment zone from 5 years to 2-2.5 years, the city plans to cut an additional 0.5 years and complete designation within 2 years.

In the process of establishing the redevelopment plans, the city will also secure project profitability by applying factors such as the project feasibility adjustment coefficient, current floor area ratio, and three-dimensional parks in ways that fit local conditions.

Anti-speculation measures will be implemented to block the inflow of speculative forces. To fundamentally block speculative transactions such as gap investment (purchasing homes with existing jeonse tenants), the areas will be designated as land transaction permit zones. In addition, to prevent speculative activities such as splitting ownership shares, the city will announce a base date for rights calculation for each candidate site and impose restrictions on building permits under the Building Act.

Choi Jinseok, Director General for Housing Policy at the Seoul Metropolitan Government, said, “The selected candidate sites are old and substandard residential areas with very poor infrastructure, where improving the residential environment is an urgent task,” adding, “Through Shintong Planning, we will provide full administrative support to ensure rapid housing supply and the creation of better residential spaces.”