Shin Sangjin: "Lifting Bundang Reconstruction Quotas Would Add 60,000 Homes to the Metropolitan Area"

[Interview] Shin Sangjin, Mayor of Seongnam, Gyeonggi Province

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"If the annual supply limit for Bundang reconstruction is lifted, about 60,000 quality housing units could be supplied to the greater Seoul area without having to damage new residential land."

Seongjin Shin, mayor of Seongnam City, explained plans to revitalize redevelopment in Bundang during an interview with this publication on the 27th of last month in his mayor's office.

Seongnam Mayor Seongjin Shin made this statement during an interview with this publication in his mayoral office on August 27, 2026. He explained, "There is ample demand for reconstruction in Bundang and the necessary infrastructure such as roads, schools, and water and sewage systems is already in place." Mayor Shin added, "If the government abolishes the annual supply limit for maintenance projects, it would be possible to move up the schedule of reconstruction projects from their target year of 2040 to as early as 2035. Rather than attempting controversial new housing projects in places like Yongsan Park in Seoul—where local opposition is expected—it is much more realistic to activate Bundang reconstruction, which is wanted by residents and the local government, as a housing supply policy."

He identified Bundang reconstruction and redevelopment of the old districts of Sujeong and Jungwon as core initiatives of the 9th popularly elected administration. He also announced plans to establish a "diamond-shaped advanced industry belt" connecting Pangyo, the Ori Station area, Baekhyeon MICE, and Seongnam High-Tech Valley, and to introduce "Seongnam-type Home-Based End-of-Life Care" integrating medical, nursing, and home-care services.

The following is a Q&A with Mayor Seongjin Shin.

-Is it feasible to push for the reconstruction of 98,000 homes in Bundang?

"There is sufficient demand for reconstruction among Bundang residents. When the pilot districts were selected in 2024, 58,874 households applied. This year, the second round of special maintenance zones received proposals from 50 zones, covering a total of 66,037 households. However, this year’s planned supply is only 12,000 units—less than one-fifth of the applications. The annual supply limit, which forces prepared residents to compete year after year, needs to be improved.

The average floor area ratio for apartment complexes in Bundang is around 180%, while the basic maintenance plan sets the standard at 326%. Reconstructing according to plan could supply an additional 50,000 to 60,000 units beyond the current stock. If the government abolishes the supply cap, the project schedule could be moved up from 2040 to 2035. This is a realistic supply plan that can both improve residential environments and help resolve the housing shortage in the greater Seoul area."

Panorama of the Aging Planned City of Bundang. Provided by Seongnam City

-Are you suggesting Bundang reconstruction is more realistic than supplying housing through developments like Yongsan Park?

"Yes. What matters in housing supply is not just announcements but how quickly and reliably execution follows. Announcing new development sites without sufficient consultation with local governments can result in delays due to resident opposition and conflict. Instead of controversial projects in symbolic locations like Yongsan Park, it is more practical to bring forward reconstruction in Bundang, where residents are in favor and infrastructure exists.

In Bundang, we could supply an additional 50,000–60,000 units without damaging undeveloped land. Seongnam City designated a pilot district for 12,055 units and became the first in the country to operate a special maintenance advisory committee. Statutory administrative procedures were processed in an average of 2.1 months. The government must not view Bundang reconstruction as merely a local issue for Seongnam. Based on objectively verified resident demand, supply effects, and the city’s administrative capability, the government should abolish the annual maintenance supply cap. This is the most rational way to supply quality housing rapidly to the metropolitan area without unnecessary conflict. We will continue to urge the Ministry of Land, Infrastructure, and Transport to abolish the annual supply limit based on confirmed demand and proven administrative capacity."

-Are there concerns about instability in the rental market and traffic congestion if reconstruction is promoted simultaneously?

"We are not demanding unlimited, simultaneous groundbreakings. What we are suggesting is only to lift the supply limit in the permitting stage, which occurs 5–7 years before actual relocation. Each apartment complex has different conditions and pace, so actual relocation will naturally be staggered. Should relocations cluster at a certain time, we will coordinate the timing at the final approval stage in consultation with the Ministry of Land, Infrastructure, and Transport. Permission procedures will be expedited, but we will manage relocation and construction start in line with housing market conditions.

We are also preparing proactive transportation plans. Considering large-scale projects like Bundang reconstruction and Baekhyeon MICE, we are establishing ‘reconstruction traffic guidelines.’ Rather than managing transportation at the complex level, we will comprehensively address issues such as roads, rail, buses, pedestrian walkways, and parking at the city level."

-How do you plan to accelerate and enhance the business viability of redevelopment projects in Sujeong and Jungwon?

"The key is to shorten the permitting timeline and reduce residents’ burden. Through the ‘maintenance plan proposal system’, we can simultaneously carry out both maintenance plan development and resident committee consent procedures. We will also pre-screen final project implementation plans to prevent project delays. We aim to proceed with administrative procedures for districts such as Sujin 2, Taepyeong 2·4, Sanseong, Dandae, and Sangdaewon 1·3 simultaneously wherever possible. City Hall will directly address any bottlenecks faced by each district.

To increase business viability, we are requesting additional relaxation of building height restrictions from the government. We will also set up a maintenance project support system totaling 10 trillion won by 2040. Of this, around 1 trillion won will be injected into Sujeong and Jungwon maintenance projects, and we will also expand support for planning costs, reconstruction assessments, and relocation loan interest support."

Panoramic view of the original downtown area of Seongnam City. Provided by Seongnam City.

-How do you plan to address new relocation demand created by redevelopment?

"We estimate that about 8,000 units of transitional housing will be needed for redevelopment in the old districts. We will prioritize the use of new rental homes in Bokjeong 1 and Geumto districts as well as vacant public rental units. If needed, we may consider using rental homes in nearby cities such as Uiwang or Hanam as well.

Redevelopment and reconstruction is not just a matter of designating maintenance zones and building new apartments. We also need to address issues surrounding relocation, the rental market, education, transportation, and supporting infrastructure in parallel. From the early stages, we will analyze housing supply and relocation schedules to minimize resident inconvenience and market disruption."

-Why are you opposed to running the Yongin-Seongnam private expressway underground through Saetbyeol Village?

"Because it could threaten residents’ safety, property rights, and reconstruction projects simultaneously. Saetbyeol Village is a leading Bundang pilot district comprising 2,843 households. After the project entity was designated this June, construction is being prepared for 2029. The plan also calls for a new underground parking lot beneath the central Dangol Park as part of reconstruction.

If both underground parking lot construction for reconstruction and deep-bore tunnel construction were to proceed at the same time, structural safety cannot be guaranteed. In addition to noise, vibration, and dust from blasting, concerns over ventilation shaft installation and additional reinforcement could increase reconstruction costs and cause delays.

Seongnam City is not opposing this unconditionally. We will raise the issue of passing beneath Saetbyeol Village as a formal point during the strategic environmental impact assessment process, and demand withdrawal of the current route as well as review of alternative bypasses. We will also request suspension of follow-up procedures until all alternatives are sufficiently considered. Our opposition will be made clear during the main environmental impact assessment, project agreements, detailed design, and every permitting stage. We will not allow the current route to proceed unless concerns over safety and property rights are fully addressed."

-What are the plans for extending Subway Line 8 to Pangyo and building a Seongnam City Hall Station?

"Extending Subway Line 8 to Pangyo involves connecting 3.78 kilometers from Moran Vehicle Depot to Pangyo Station. According to a pre-feasibility study conducted by Seongnam City, the benefit-cost ratio (B/C) was found to be 1.03. A preliminary feasibility review by the Korea Development Institute (KDI) is currently underway.

We will fully present long-term transportation demand resulting from Bundang reconstruction, Pangyo high-tech industries, and Baekhyeon MICE development to focus all of the city's capacity on securing preliminary approval.

To boost the main line's economic viability, Seongnam City Hall Station was intentionally left out of this review. If the Pangyo extension passes the preliminary feasibility test, the city will include the station plan, along with funding requirements, in follow-up basic plans. The strategy is to finalize the main line first and add the station later. We aim to break ground in 2030 and open the extension by 2035."

-How far has the Baekhyeon MICE urban development project progressed?

"Final administrative approval for the execution plan was completed this January, and the land purchase contract process for the project site is underway. Once the contracts are finalized, we will begin site development work with the goal of completing the project by 2030. The project was structured so that Seongnam City recoups any excess profits for the benefit of citizens, while the private sector receives only fixed profits—opposite of the Daejang-dong case, where the private sector kept excess profits and the public sector took only fixed returns.

It's not just about building a large convention center. The aim is to create a platform connecting Pangyo high-tech companies with international exhibitions and conferences, hotels, business, and commercial functions, so Seongnam companies can connect to the global market.

When Seongnam companies are able to participate in international conferences, trade shows, or buyer meetings in their own region, it will help reduce overseas expansion costs and spur growth in the local hotel, distribution, and service industries. The construction and operation of the facility is expected to create about 40,000 new jobs. We intend to make this a gateway for Seongnam businesses to expand onto the world stage."

-What is your strategy for implementing the 'diamond-shaped advanced industry belt'?

"The First and Second Pangyo Technovalleys have grown to accommodate 1,780 companies, 83,465 employees, and annual revenue of about 226 trillion won. Now, it is time to spread Pangyo’s technologies, companies, and jobs throughout Seongnam as a whole.

We will connect Pangyo to the 4th Techno Valley in the Ori Station area, the Wirye POSCO Holdings Global Center, the Yatap Advanced Industrial Complex, and Seongnam High-Tech Valley. Baekhyeon MICE and Jeongja-dong Bio-Health Cluster will also be included—together comprising the 'diamond-shaped advanced industry belt.'

If Pangyo serves as the brain responsible for AI and software R&D, Seongnam High-Tech Valley will focus on applying advanced technologies at the manufacturing site. We will provide high-performance GPUs and manufacturing data to the Manufacturing AI Solution Support Center, and ensure that the Physical AI Integrated Verification Center helps AI technology flow into advanced manufacturing and the robotics/mobility industry. As AI, future mobility, bio, semiconductor, and MICE industries all connect into a single ecosystem, Seongnam could see annual sales reach 500 trillion won."

Perspective view of Ori Station area 4th Technovalley. Provided by Seongnam City

-What is the plan for developing the 4th Techno Valley around Ori Station?

"We plan to transform about 570,000 square meters around Ori Station into a high-density advanced industrial hub combining AI R&D and future mobility. This will become a new growth engine for Seongnam's next 30 years, following Pangyo. To accelerate the project, we will use the district-unit planning change method, which leaves decision-making with Seongnam City, rather than the 'urban innovation district' designation that requires Ministry of Land, Infrastructure, and Transport approval.

We will prioritize public land development, such as the Agro-Fisheries Wholesale Center site and relocation sites for the court and prosecutors’ office, and create an industrial city that combines research & development, business, residential, and cultural functions. Our aim is to make this a 'scaling-up' base, allowing companies that outgrow their space in Pangyo to take their next step at Ori Station rather than leaving Seongnam, and to aggressively attract global anchor companies.

If a technology and innovation ecosystem equivalent to First Pangyo Techno Valley is established, up to 80,000 jobs and annual revenue of 180 trillion won could be generated. The Ori Station area will carry on Pangyo’s growth and transform the economic map of southern Seongnam as the 4th Techno Valley."

-What measures are in place to recoup undue gains from Daejang-dong?

"It is difficult to confirm the final amount for recovery, as the related trials and parties' financial relationships are still evolving. We are blocking the disposal of assets via attachments and provisional seizures, and lawsuits are ongoing to nullify dividends paid to private parties.

We have also discovered so-called ‘zero-balance accounts’ with no remaining funds after seizure orders. Accordingly, we are expanding our tracking scope to include real estate, securities, key money deposits, commercial rent, and apartment pre-sale trust accounts. If we find signs of internal information leaks or asset concealment, we will use all available investigative means, including audits, to clarify the facts. No matter how long it takes, we will thoroughly track and recover the assets that should be restored to the citizens."

The delegation from Seongnam City, led by Mayor Shin Sangjin, took a group photo in front of the Aikoen Elderly Health Facility in Nagoya, Japan, on the 24th of last month. Provided by Seongnam City

-How do you plan to apply elements of Japan's home medical care and nursing models in Seongnam?

"In Japan, there are 'elderly health care facilities' that serve as an intermediate stage between standard nursing homes and long-term care hospitals. With doctors on site managing prescriptions and medications, and a team of nurses, rehab specialists, and caregivers, seniors who have completed hospital treatments but cannot return home immediately can stay for a period to recover before transitioning back to their residences.

In Korea, after hospitalization, options are limited to long-term care hospitals or nursing homes, with insufficient intermediate steps linking medical care and ongoing support. With reference to Japan’s elderly health care facilities and Nagoya’s community-based integrated care, we will create a system where medical institutions, care providers, and the local community share patient information and work together.

We will implement 'Seongnam-Type Home-Based End-of-Life Care,' integrating home-visit medical and nursing services, personal care, meal support, and hospital accompaniment. If citizens wish, we will help them spend their last days at home, with their families, in the place where they've always lived."

-How would you describe the vision for Seongnam's 9th popularly elected administration in one phrase?

"It is 'a standard-setting city of Korea where growth and care go hand in hand.' We will build a city where companies can start and grow, and young people can settle down with good jobs. The benefits of redevelopment, reconstruction, and advanced industries must be felt in citizens’ daily lives.

At the same time, we will bring healthcare and care services directly to people's homes, so families do not bear all the burdens alone. By raising both industrial competitiveness and quality of life, we will make Seongnam a city where people can feel today’s changes and look forward to tomorrow."

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