Korea Land and Housing Corporation (LH) has signed business agreements with resident representatives of Kkachi Village 4 and Mujigae Village 4 in Bundang, Seongnam, to proceed with public-led integrated reconstruction for the designation of the second special redevelopment zone. The combined expected housing supply for the two districts is approximately 2,900 units.
LH announced on the 9th that it had signed business agreements with resident representatives of Kkachi Village 4 and Mujigae Village 4 in Bundang, Seongnam, for the designation of the second special redevelopment zone.
LH signed agreements for public-led integrated reconstruction with Kkachi Village 4 district representatives on March 26 and with Mujigae Village 4 district representatives on the 8th. The resident representative groups were formed with majority consent from landowners based on the "Guidelines for Establishing Special Redevelopment Plans for Aging Planned Cities."
This project is being pursued through the resident-proposal system introduced under the government's housing supply expansion measures (September 7 measures) last year. Under this approach, residents obtain majority consent from landowners and directly propose district designation to local governments, enabling faster progress compared to the existing public tender method.
Under the agreements, resident representative groups will handle major decision-making for project advancement and collect consent forms for plan proposals. LH will serve as an overall supporter for the redevelopment project, including establishing special redevelopment plans, providing administrative support for permits and approvals, and supporting initial project costs.
Based on the current draft redevelopment plan, approximately 1,100 units in Kkachi Village 4 and approximately 1,800 units in Mujigae Village 4 are expected to be supplied, totaling approximately 2,900 units. LH plans to proceed with the process in line with Seongnam City's schedule for resident proposals for the second special redevelopment zone, aiming to file for "pre-consultation on special redevelopment zone designation proposals" by July.
"Following the examples of the leading districts in Bundang and Gunpo, we will actively communicate with residents in subsequent districts to create optimal redevelopment models," said Kang Oh-soon, Head of LH's Regional Balance Division. "We will successfully drive the designation of the second special redevelopment zone and contribute to stabilizing the metropolitan housing market."
