The government is accelerating the development of key public sites such as Taereung CC, Yongsan Camp Kim, and Gwacheon Racecourse to expand housing supply in the metropolitan area. However, significant challenges remain before actual construction can begin. While the government is pushing to expedite the supply schedule and encourage discussions among relevant agencies, unresolved issues regarding the scale of housing supply, securing relocation sites, preserving cultural heritage, and community acceptance continue to cast doubt on whether these plans will translate into actual housing availability.
According to industry sources on October 12, President Lee Jae-myung visited the Taereung Golf Course with his family the previous day, and the Korea Land and Housing Corporation (LH) is preparing to issue a contract for the investigation and design services for the Taereung CC public housing district, indicating a renewed push for the project.
Taereung CC Faces UNESCO Review Despite Project Resumption
Taereung CC has been considered a candidate site for housing supply since the Moon Jae-in administration but has faced difficulties due to traffic congestion, cultural heritage preservation issues, and community opposition. The Lee Jae-myung administration has proposed a plan to supply 6,800 housing units as part of its 1·29 policy, aiming for public housing district designation by March 2027, district plan approval in the first half of 2028, and construction to begin in September 2029.
On August 11, the National Heritage Committee conditionally approved the World Heritage Impact Assessment for Taereung CC. The government plans to submit the related assessment to UNESCO for further review. LH is also preparing to issue the investigation and design services contract, which involves site condition surveys, district plan formulation, and basic and detailed design processes.
An LH official stated, "To preserve the landscape and historical value of the World Heritage site, we have adjusted the average floor area ratio and building height downward in accordance with the recommendations of the National Heritage Committee. We are also considering the composition of large green spaces and courtyard-type complex layouts." Regarding traffic issues, the official added, "We are continuously discussing the establishment of traffic improvement measures through a consultative body involving the government, local governments, and experts."
Yongsan Housing Agreement Stalled; Gwacheon Racecourse Site Uncertain
The government is pushing to supply 10,000 housing units in the Yongsan International Business District, but the Seoul city government has raised concerns about securing infrastructure, such as school sites, stating that it can accommodate up to 8,000 units instead of the initially proposed 6,000. Seoul Mayor Oh Se-hoon emphasized in August that the 8,000-unit supply plan must be contingent on securing school sites. If the two sides cannot narrow their differences regarding the supply scale, subsequent procedures, such as land use plan changes, may face delays.
Additionally, the Gwacheon Racecourse site is facing challenges as the relocation of existing facilities must precede any development. The government set a goal in its August 13 policy to select a relocation site and begin housing construction by December 2029. However, it has been reported that the proposal for selecting a relocation site has not been presented to the board of the Korea Racing Authority.
While the government insists on confirming a new relocation site first, the Racing Authority argues that financial support assurances must come first. The lack of clarity on the relocation site and funding sources is widening the gap between the government's construction schedule and the actual project conditions.
Yemchang Park Briefing Canceled; "Community Consent and Seoul Cooperation Needed"
The Yemchang Neighborhood Park area in Gangseo District, included in the August 13 policy, has also faced community opposition. The government planned to supply 1,000 housing units and begin construction in 2029, but a community briefing scheduled for September 11 was canceled due to local resistance. Despite this, LH is proceeding with bids for environmental impact assessments and is moving forward with soil and disaster impact assessments.
Song Seung-hyun, CEO of Urban and Economy, pointed out that pursuing projects without securing community acceptance has its limits, stating, "Announcing measures alone is insufficient; a process to gain community consent and consensus is necessary."
Professor Ko Jun-seok of Yonsei University’s Sangnam Institute of Management noted, "For housing supply measures to gain momentum, cooperation with the Seoul city government is essential. The start of construction itself sends a supply signal to the market, which can help stabilize housing prices."
* This article has been translated by AI.
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