Will Greenbelt Become a Savior for Housing Supply?... Naegok Reserve Army Site Among Candidates

Six Times the Area of Yeouido Released in 25 Years: Construction of National Rental Housing and Bogeumjari Districts
More Than Half of Lifted Greenbelt Land Concentrated in Prime Southeastern Seoul, Including the Three Gangnam Districts

The government's housing supply measures, expected to be announced as early as early next week, are likely to include plans to utilize greenbelt areas (development-restricted zones) in Seoul and the surrounding metropolitan area.

In the real estate market, it is already anticipated that significant portions of greenbelt land have been released, and given factors such as flat terrain, areas with a high probability of being converted into housing land include the reserve army training site in Naegok-dong, Seocho District; the surroundings of the Olympic Athletes' Village in Bangi-dong, Songpa District; and greenbelt land in Jagok-dong and Segok-dong, Gangnam District.

The main objectives of designating greenbelt areas are to prevent uncontrolled urban sprawl and to preserve the environment. In the past, previous administrations lifted portions of the greenbelt to develop large-scale “National Rental Housing Districts” and “Bogeumjari Housing Districts.”

The greenbelt areas in Seoul and the metropolitan area are emerging as a key alternative to expand the insufficient housing supply. A greenbelt area in the Gangnam district of Seoul.

Six Times the Size of Yeouido Released Over 25 years = As of the end of last year, the total greenbelt area in Seoul was 149.1 square kilometers. Of Seoul’s 25 districts, 19 include greenbelt zones. There are no greenbelt areas in six districts—Yongsan, Seongdong, Dongdaemun, Yeongdeungpo, Dongjak, and Jung—mainly because greenbelts are concentrated along the city boundaries of Gyeonggi Province and Incheon to prevent urban contiguity.

The current size of the greenbelt is 17.72 square kilometers less than the 166.82 square kilometers officially recorded by the Seoul Metropolitan Government in 2000. This means that over the past 25 years, more than six times the area of Yeouido (2.9 square kilometers) has been removed from the greenbelt.

The first time the government lifted greenbelt restrictions to use land for housing supply was during the Roh Moo-hyun administration. At that time, 3.47 square kilometers of greenbelt in Seoul were released to create National Rental Housing Districts. Through this, greenbelts in the Gangnam and Songpa area, as well as the Yangcheon and Mapo regions, were lifted.

Under the Lee Myung-bak administration, an even larger area—5 square kilometers of greenbelt in Seoul—was released to create large-scale Bogeumjari Housing Districts. The government at the time freed up greenbelt areas in Segok, Gangnam; Naegok, Seocho; and Gangil, Gangdong to supply apartments.

◆ Land Supply Focused in Gangnam Area = By district, Eunpyeong District has had the largest area released. The greenbelt decreased by 3.5 square kilometers, from 18.71 to 15.21 square kilometers, largely due to the development of Eunpyeong New Town in the Jingwan-nae and Jingwan-oe-dong areas.

Excluding Eunpyeong District, most of the greenbelt released has been concentrated in the southeastern part of Seoul, including the three Gangnam districts. This was a policy decision to maximize housing price stabilization effects by focusing supply in highly desirable locations.

The greenbelt in Gangnam District decreased from 8.56 square kilometers in 2000 to 6.09 square kilometers today, a reduction of 2.47 square kilometers. In Seocho District, the greenbelt shrank from 26.03 to 23.89 square kilometers—down 2.14 square kilometers during that period. Songpa District’s greenbelt decreased by 1.97 square kilometers (from 4.61 to 2.64), and Gangdong District’s by 3.1 (from 11.26 to 8.16) square kilometers.

Ultimately, more than half (9.68 square kilometers) of the total 17.72 square kilometer decrease in greenbelt area over the past 25 years has been concentrated in southeastern Seoul. In the northern part of the city, only Jungnang and Guro Districts, besides Eunpyeong, have seen a reduction of more than 1 square kilometer in greenbelt area.

◆ Specific Candidate Sites Mentioned in Seocho, Songpa, and Eunpyeong = In the market, discussions are taking place about specific candidate sites for development. The areas most widely mentioned are greenbelt zones in the Gangnam region, including the reserve army training site in Naegok-dong, Seocho District; the area around the Olympic Athletes' Village in Bangi-dong, Songpa District; and Jagok-dong and Segok-dong in Gangnam District.

These locations symbolize the expansion of supply in the Gangnam area and are considered optimal due to their ability to satisfy demand for “high-quality housing.” However, since the land has already undergone two rounds of deregulation, land prices have increased significantly, leading to criticism that such measures may merely benefit landowners financially. Additionally, as most greenbelt land suitable for development has already been utilized for residential purposes, there are concerns it will be difficult to find new, large-scale sources that could significantly shift the market supply.

Online communities are also discussing greenbelt areas outside the Gangnam region, especially those in Gangseo and Eunpyeong Districts, where greenbelt coverage is relatively wide. Gangseo District contains extensive greenbelt throughout Magok and around Gimpo Airport, mostly flat land ideal for usage.

On the outskirts of Eunpyeong District, new residential districts such as Eunpyeong New Town and Goyang Samseong and Changneung have already been established. Developing nearby greenbelt together would require less investment in additional infrastructure, such as transportation.

Some voices also suggest utilizing greenbelt areas in nearby cities rather than within Seoul itself for housing supply. Representative examples include Uiwang, Gwacheon, Hanam, Siheung, and Uijeongbu. In these municipalities, greenbelts account for more than 70 percent of the total area and are noted for their excellent accessibility to Seoul. Namyangju is likewise regarded as having significant housing supply potential through greenbelt land.

This content was produced with the assistance of AI translation services.