11 remaining sites targeted to meet annual 30,000-unit goal
Associations, contractors and districts sign joint housing supply pact
'Preemptive action to remove delays, deliver homes on time'
Seoul Mayor Oh Se-hoon will personally monitor potential delays at 11 redevelopment sites scheduled to break ground this year, as part of efforts to ensure a stable housing supply. The move reflects his view that timely ground-breaking is essential to building public and market confidence in the city's housing policy.
Speaking at a joint housing supply cooperation signing ceremony held Tuesday morning at Seoul City Hall, Oh said, "The most important asset in housing policy is the trust of citizens and the market." He added that people can only plan their lives — and markets can only move with stability — when they believe housing will be delivered on schedule and policy will remain consistent.
Oh stressed the importance of breaking ground on time, saying, "The success or failure of housing supply depends not on how many units are announced, but on how many of the planned units are actually delivered when promised." He went on to say that when citizens can trust the supply, they can calmly plan for homeownership and make important life decisions — marriage, having children and their children's education.
Oh also noted that 389 redevelopment zones in Seoul were dissolved between 2012 and 2020, wiping out the supply base for 430,000 units. "To fill that gap, Seoul has increased the number of newly designated redevelopment zones to an annual average of 35 over the past five years, and redevelopment projects covering 521,000 units are now under way across 496 zones," he said. "We must carry this hard-won supply base through to ground-breaking."
The signing ceremony, presided over by Oh, brought together 11 redevelopment associations, five contractors and eight autonomous districts, all with projects slated to break ground this year. Under the agreement, associations committed to accelerating ground-breaking preparations through transparent operations and swift decision-making, while contractors pledged to share construction cost information openly, pursue reasonable cost reductions and maintain rigorous safety and quality standards.
The Seoul Metropolitan Government said it will move quickly to identify and address obstacles — including construction cost disputes and delays in permit procedures — and provide prompt administrative support. The city said it will use the agreement as a springboard to strengthen on-site progress management and administrative support, with the aim of translating its core housing policy under the ninth elected administration — breaking ground on 310,000 units by 2031 — into tangible results.
Of the 25 redevelopment sites the city has been closely managing toward this year's ground-breaking target, 14 sites covering about 15,000 units have already broken ground, reaching roughly half of the annual goal of 30,000 units. The remaining 11 sites, totaling 16,117 units, must still break ground before the year is out.
The 11 sites scheduled to break ground in the second half of the year include Hannam District 3 (5,970 units), Bangbae District 13 (2,228 units), Sinwolgok District 1 (2,200 units), Macheon District 4 (1,254 units), and Noryangjin Districts 4, 5 and 7, among others. The city plans to monitor demolition work and permit progress at each site and ensure that remaining procedures stay on schedule.
Redevelopment projects are currently under way across 496 zones in Seoul, covering approximately 521,000 units.
hope@heraldcorp.com
