South Korea plans 73,000 public homes on Seoul-area green belt land

South Korea plans to build 73,000 public homes on green belt land in the Seoul metropolitan area, using sites left undecided when it announced its Aug. 13 real estate measures. The Ministry of Land, Infrastructure and Transport (MOLIT) is focusing on new development sites and expects most of the added housing to come from metropolitan areas where green belt restrictions are lifted, including degraded land judged to have low conservation value. Areas expected to be released include parts of Gangnam, Songpa district and Hanam, with named sites including the Suseo rail depot, Naegok-dong, Segok-dong, Bangi-dong and Gambuk-dong. MOLIT has completed consultations with local governments and plans to unveil candidate sites by early October after administrative procedures. The ministry is also reviewing the whole of Yongsan Park, including Yongsan Children's Garden, for urban housing supply. A June revision to metropolitan planning guidelines allows green belt land released for state-led public housing districts to be excluded from local government volume caps, giving the ministry scope to lead releases and development without Seoul city government's consent, though it says consultations with Seoul will continue.

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South Korea plans 73,000 public homes on Seoul-area green belt land - CoinPost Terminal