Korea Land and Housing Corporation (LH) said Tuesday it had signed a business agreement on Monday with the residents' representative group of the Bandal Maeul A district, a pioneer zone in the Bucheon Jungdong aging planned city, to pursue designation as a special redevelopment zone for integrated reconstruction.
Through the agreement, LH will actively reflect residents' opinions in the process of designating the Bandal Maeul A district as a special redevelopment zone and establish a cooperative framework for stable integrated reconstruction. Under the agreement, the residents' representative group will handle decision-making on the project and secure consent forms. As the preliminary project operator, LH will support the overall redevelopment process, including the formulation of the special redevelopment plan, permit and licensing assistance, and initial project funding.
The aging planned city redevelopment project targets housing sites that have been in place for more than 20 years and integrates adjacent complexes and infrastructure. The Bucheon Jungdong first-generation new town has a total of 18 special redevelopment candidate zones, with Eunha Maeul and Bandal Maeul A designated as pioneer zones.
LH plans to begin the process by applying for preliminary consultation in the second half of the year, with the goal of completing zone designation within the year. According to the proposed redevelopment plan, the Bandal Maeul A district will be reconstructed from the existing 3,570 units into 4,429 units.
"The Bandal Maeul A district has the potential to become an important pioneer model for the Jungdong aging planned city redevelopment project," said Kang Oh-soon, head of LH's Regional Balance Division. "We will actively support the project so it can be carried out stably and at speed, based on public-sector expertise and support capabilities."
