President Lee Jae-myung visited Jangwi District 9 in Seoul's Seongbuk-gu on the 4th, called stabilizing housing prices in the capital region a core task, and urged faster public-led redevelopment. His point was that public involvement reduces room for corruption and speeds projects up, and he asked the National Assembly to pass pending redevelopment bills quickly.
According to the Kyunghyang Shinmun, Lee said at the Jangwi 9 site that the center of gravity should shift to public redevelopment that is clean, low-cost, fast and trustworthy. He also stressed that stabilizing housing prices in the capital region is the most important policy task.
광고 문의 · 300×250According to Etoday, Lee said that when the public sector takes the lead, projects move faster and the room for corruption shrinks. Noting that many projects are still driven by the private sector, he indicated that corruption lies behind that reality.
Speed and incentives
Lee said that as mayor of Seongnam he saw redevelopment take 10 to 30 years and that administrative procedures must be quickened. He proposed stronger incentives, such as higher floor-area ratios or financial support, for projects that move early, and on bills stuck in the Assembly he said they should be handled quickly, asking how anyone could leave them tied up for 20 years.
He also said that if residents vote for public management, the workload of the Korea Land and Housing Corporation (LH) grows but it can simply hire more staff. Etoday reported that Rep. Kim Nam-geun pointed out LH staffing was cut by roughly half under the Yoon Suk Yeol government. Lee's view is that the route to switch to public redevelopment should stay open without restrictions.
The Jangwi district and Sarang Jeil Church
According to the Kyunghyang Shinmun, Jangwi-dong was designated a redevelopment promotion district in 2006 with 15 zones and a goal of 33,000 homes, but projects stalled amid the financial crisis and resident conflict. Etoday reported that Jangwi 9, run by LH, covers 2,270 households with construction targeted for June 2029 and move-in in March 2033.
Ministry of Land, Infrastructure and Transport figures show 128 of 773 redevelopment zones in the capital region, or 16.6 percent, have reached the construction stage, and the government plans to support construction starts for 234,000 homes in the region over the next five years. Touring Jangwi 10, Lee asked why the Sarang Jeil Church site had been excluded from the zone and told the Seongbuk district head to enforce the law strictly so that no one can hold out in defiance of it. Whether faster public redevelopment actually stabilizes prices depends on passage of the bills and results at each project stage.
