Seoul is reducing the time required to establish associations for urban renewal projects from approximately one year to four months to accelerate housing supply.
On August 19, the city announced the implementation of the 'Improvement Plan for Accelerating Association Establishment Procedures' starting the previous day. Recent legal amendments and deregulation measures now allow the formation of promotion committees even before the designation of renewal zones, enabling preliminary procedures for association establishment to be conducted in advance to speed up projects.
The key aspect of the improvement plan is that while previously preparations for association establishment could only begin after a zone was designated, now they can start before the designation.
According to the plan, if a promotion committee secures a resident agreement rate of over 75% during its formation stage, it can concurrently carry out tasks necessary for association establishment, such as drafting bylaws and selecting executives, even before the designation of the renewal zone. Previously, the process took time as it moved sequentially after meeting the agreement requirements, but now multiple procedures can be conducted simultaneously.
The notification of estimated contribution fees and the period for objections, which occur after the zone designation, will also be shortened. Previously taking over 60 days, this will now be reduced to 30 days, aligning with the resident review period, and can be conducted alongside the inaugural general meeting.
As a result, the standard processing time from the designation of a renewal zone to the establishment of an association will decrease from 365 days to about 120 days, effectively shortening the process from nearly a year to approximately four months, a reduction of about 245 days.
Urban renewal projects proceed through several stages, including the formation of a promotion committee, association establishment, project approval, and management approval, leading to construction and occupancy.
Seoul has communicated this improvement plan to local districts on August 18, with immediate implementation.
Myung No-jun, head of the Housing Policy Division at Seoul, stated, "This improvement plan has already been disseminated to local districts and will be applied immediately. Areas with high resident agreement rates and strong project promotion will see expedited housing supply."
* This article has been translated by AI.
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