Diplomacy Journal shJung 기자 | The government is actively pursuing the supply of 18,000 large-scale public housing units in the Gangnam area.
On February 2nd, the Ministry of Land, Infrastructure and Transport (Minister Kim Yoon-duk) designated and announced the Seoripul 1st Public Housing District (2,018,074㎡) in Wonji-dong, Sinwon-dong, Yeomgok-dong, and Naegok-dong in Seocho-gu, Seoul.
The government announced plans to promote a plan to provide affordable public housing, focusing on providing affordable housing for future generations, including young adults and newlyweds, through a housing ladder.
Seoripul District 1 is the largest public housing project in Seoul's Gangnam area,
providing 18,000 units.
It is a key hub of the new government's housing supply expansion plan (9.7 Measures), which will bring substantial supply to areas with concentrated housing demand.
Furthermore, Seoripul District 1 boasts excellent rail access, with its proximity to Cheonggyesan Station on the Shinbundang Line and Yangjae Station on the GTX-C. It also offers convenient access to major areas in Seoul and the metropolitan area via the Gyeongbu Expressway and Gangnam Beltway.
In addition to its potential as a residential area, it is also adjacent to the Hyundai Motor Company headquarters, the Yangjae Urban Advanced Logistics Complex, and the Yangjae AI Future Convergence Innovation District, and is expected to have significant potential for development as a high-tech industrial and residential mixed-use space.
Seoripul District 1, following a public notice in November 2024, completed consultations with relevant agencies, including the Seoul Metropolitan Government and Seocho-gu, a strategic environmental impact assessment and disaster impact review, and a public interest review by the Central Land Expropriation Committee. The project passed the Central Urban Planning Committee review on January 22nd.
The Ministry of Land, Infrastructure and Transport and the Korea Land and Housing Corporation (LH), the project developer, will immediately begin the district planning process, starting with district designation. They will also expedite follow-up procedures, such as obstacle surveys, to accelerate the project, aiming for commencement of construction and sales in 2029.
Additionally, on Monday, February 2nd, the Ministry of Land, Infrastructure and Transport (MOLIT) approved the first district plan for the 42,392㎡ Seoul Namhyeon Public Housing District, located in Namhyeon-dong, Gwanak-gu, Seoul (near Namtaeryeong Station on Subway Line 4).
The Seoul Namhyeon Public Housing District is a project to redevelop aging military apartments on the site and provide 446 public housing units and 386 new military apartments. Following land development procedures, construction and sales are scheduled to begin in 2028.
Located between Namtaeryeong Station and Sadang Station on Subway Line 4, the district boasts excellent accessibility to major areas of Seoul, with public transportation access to Gangnam within 20 minutes and proximity to the Gangnam Beltway (Sadang IC).
Kim Young-guk, Director of the Housing Supply Promotion Headquarters at the Ministry of Land, Infrastructure and Transport, stated, "This is significant in that the supply plans for two public housing districts, Seoripul and Namhyeon, have been concretized, and the housing supply plan in Seoul is becoming more tangible."
"The Seoripul district is the first large-scale public housing project in Seoul in 15 years, following the Naegok public housing district. The Namhyeon district is also a significant project that simultaneously promotes public housing supply and modernization of military apartments. We will concentrate all our efforts on expediting the project."
