Seochosoripul District 1 Landowners Rally in Front of Ministry, Urge Review of Public Rental Ratio and Fair Compensation

On August 11, the Seochosoripul District 1 General Residents' Countermeasure Committee announced that it would hold a rally in front of the Ministry of Land, Infrastructure and Transport in Sejong City, calling for a review of the public rental housing ratio, measures for landowners and original residents to return and resettle, fair compensation, and the undergrounding of the Gyeongbu Expressway.

A scene from the Seoul City Hall rally held in July by the Seocho Seoripul 1 District General Residents’ Countermeasure Committee. Provided by the National Council of Public Housing Districts.

Seochosoripul District 1 is a public housing district of approximately 2.01 million square meters designated and announced by the Ministry of Land, Infrastructure and Transport on February 2 earlier this year, covering the areas of Wonji-dong, Sinwon-dong, Yeomgok-dong, and Naegok-dong in Seocho-gu, Seoul. The project involves lifting the green belt to supply 18,000 housing units. It is a key hub in the government’s September 7 supply policy announced last year, with construction and sales targeted for 2029.

The Countermeasure Committee argues that under the current supply plan, which focuses on public rental housing, it is virtually impossible for landowners and original residents to return and resettle. The committee stated, "Fifty-five years ago, the government designated this area as a restricted development zone, and since then, residents have cooperated with national policy, living without even being allowed to install a simple farm structure. If they are forced to accept low compensation and also face excessive capital gains taxes, the actual compensation will be further reduced, leaving them with no choice but to leave the home they have protected their entire lives."

The committee claimed that if the proportion of public rental housing reaches 80%, more than 1,700 landowners who have sacrificed for 55 years will be pushed out from their land after development. However, the supply ratio by type has not yet been finalized.

The design competition guidelines for the integrated urban and architectural plan announced by Korea Land & Housing Corporation (LH) include a direction to expand the share of small and rental housing and provide homes for various groups such as newlyweds, families with newborns, and multi-family households. However, the specific volume and ratio of supply by type are expected to be determined during the future district planning and consultation process with related agencies.

As examples of policies focusing on public rental housing, the committee mentioned the Gayang District in Gangseo-gu and long-term rental housing in Songpa-gu. It pointed out that a supply skewed toward certain types could, in the long term, create new problems such as a decline in the school-age population, aging, and conflicts over the conversion of rental units to sales. The committee emphasized, "It is necessary to provide public housing for young people and newlyweds, but an increase in general sales units and ensuring the resettlement of original residents are also needed in order to create a city where various ages and social classes can coexist."

Previously, the committee stated that in meetings with the Ministry of Land, Infrastructure and Transport, it had officially requested a review of the public rental housing ratio, expansion of general sales housing, measures for landowners and original residents to resettle, improvement of livelihood measures and the negotiated sale housing system, fair compensation, the alleviation of capital gains tax burdens, and the undergrounding of the Gyeongbu Expressway.

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