Back To Top

[Monitor] S. Korean government plans new housing projects on state-owned properties

The South Korean government plans to supply 132,000 housing units in Seoul and its neighboring areas, according to an announcement made by the Finance Ministry on Tuesday.

For this, the government has decided to ease regulations for reconstruction of aged apartments, as well as utilizing the government’s idle properties in the metropolitan areas.

Of the 132,000 units, 33,000 units will be provided in Seoul by repurposing state-owned properties and public spaces that have been sitting idle, according to the Ministry of Land, Infrastructure and Transport. The plan, however, is expected to hit a snag upon disagreements on some of the regulation eases, such as the maximum height of the buildings with the Seoul Metropolitan Government.