The South Korean government plans to gradually disclose the locations of 73,000 new public housing units in the metropolitan area, as announced in the 'August 13 Rapid Housing Supply Plan.' This information is expected to be released as early as the end of next month. The government is also considering utilizing public vacant land in urban areas, including parts of Yongsan Children's Park and greenbelt zones, for additional housing supply.
On August 14, Kim I-tak, the Deputy Minister of Land, Infrastructure and Transport, appeared on MBC Radio's 'Kim Jong-bae's Focus' and Cheong Wa Dae's YouTube channel 'Fact Factory' to explain the details of the housing supply measures announced the previous day and the timeline for implementation.
During the MBC Radio segment, Kim stated, "Among the announced figures, there are 73,000 units that we plan to expedite. We aim to finalize administrative procedures quickly, with announcements potentially as early as late September or October."
He added, "To conduct community consultations, we need to prepare documentation for each land parcel. Each parcel is tied to individual property rights, and if any are overlooked, it could lead to legal disputes, which is why the administrative process takes time."
The government announced plans to create 27,000 new public housing units in three locations: Gangseo in Seoul, and Namyangju and Gwangju in Gyeonggi Province. Additionally, it aims to identify over 73,000 more units, bringing the total to more than 100,000 new housing sites in the metropolitan area.
Regarding the potential for additional supply, Kim remarked, "It seems appropriate to say we have scoured all available land. However, I believe there is still more we can uncover."
When asked if greenbelt areas could be included as potential sites, he responded, "Greenbelt areas can be included, as well as public vacant facilities in urban areas. These sites can be utilized in consultation with local governments."
On the 'Fact Factory' program, Kim emphasized, "The solution to the supply shortage is indeed supply itself, and we need to accelerate this process. The main focus of this plan is to increase the supply of public housing, as well as private housing, including apartments and other types of residences across all sectors."
In response to concerns that only 120,000 of the 230,000 additional units planned for the metropolitan area would actually break ground by 2030, Kim countered, "Some people think the remaining 110,000 units are fictitious, but that is not the case. These units can also be constructed after 2030."
He highlighted that, when combined with existing supply plans, a total of 1.5 million units will be under construction in the metropolitan area by 2030, averaging 300,000 units per year, which is significantly higher than the average of 299,000 units during the Park Geun-hye administration.
The government plans to reduce the time from the announcement of public housing sites to the start of construction from the current average of 68 months to 37 months, cutting it by 31 months. This will be achieved by implementing a 'one-stop package' approach, allowing related procedures to be processed simultaneously rather than sequentially.
Kim noted, "This approach will not only apply to this plan but will also set a standard for future projects. We can expedite the 1.35 million units already announced using the same method."
To facilitate additional supply in Seoul, the government will negotiate with the city to utilize parts of Yongsan Park.
Kim explained, "Yongsan Park is approximately 1 million pyeong, similar in size to Yeouido, and the Children's Garden is about 90,000 pyeong. Besides the Children's Garden, there are also returned sites like Camp Kim and embassy residences."
He added, "There is a strong demand for housing for young people and future generations, which is why we are considering utilizing parts of Yongsan Park in discussions with the city."
In response to claims by Seoul Mayor Oh Se-hoon that the government announced the supply plan without sufficient consultation with the city, Kim stated, "We have been in continuous discussions with city officials and will continue to do so moving forward."
The plan includes starting construction on 26,000 redevelopment and reconstruction units in Seoul this year and next, with a goal of increasing the annual construction scale to 30,000 units thereafter. The Taereung Golf Course site has completed domestic procedures related to national heritage, and land surveys will begin in the second half of this year, aiming for construction to start in 2029.
Kim requested prompt legislative action on a housing law amendment that would improve regulations for local housing cooperatives, which could expedite the supply of about 50,000 units. The plan also includes converting vacant office spaces in urban areas into residential facilities, aiming to supply approximately 15,000 units within one to two years, and the Korea Land and Housing Corporation (LH) plans to provide over 5,000 modular homes annually to foster the related market.
* This article has been translated by AI.
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