Seongnam Picks 5 Bundang Redevelopment Zones Covering 13,429 Homes

Total Exceeds Original Plan by 1,429 Units

Finance|
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By Woo Young-taktak@sedaily.com
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Apartment buildings cluster in Bundang district, Seongnam, Gyeonggi Province. The photo is not directly related to the content of this article. News1 - Seoul Economic Daily Finance News from South Korea
Apartment buildings cluster in Bundang district, Seongnam, Gyeonggi Province. The photo is not directly related to the content of this article. News1

Seongnam said it has selected five districts totaling 13,429 units as candidates for designation as special redevelopment zones in Bundang, a first-generation new town now aging. The figure exceeds the originally planned volume of 12,000 units by 1,429.

According to the city on the 29th, the selected districts are Imaechon 1 with 1,734 units, Sibeom Complex 1 with 4,200 units, Park Town with 3,025 units, Pureun Village with 2,598 units and Hansol Village 2 with 1,872 units.

The city received proposals for special zone designation and redevelopment plans in July, then notified applicants of its review opinions after consultations with relevant departments and an advisory committee. It accepted the main documents, including revised special redevelopment plans, on Sept. 1 and conducted evaluations through a selection committee made up entirely of outside experts in urban planning, architecture and transportation.

The committee assessed the submitted plans against six criteria, including the appropriateness of project implementation, which had been disclosed in advance on the city's website.

Taking into account the nature of redevelopment projects and fairness in selection, the city chose five districts and 13,429 units based on the rankings from the evaluation, even though the total slightly exceeded the planned volume. Seongnam plans to move quickly through follow-up procedures — public review and notice for residents, hearings at the city council, consultations with relevant agencies, deliberation by the landscape committee, consultation with Gyeonggi Province and deliberation by the urban planning committee — to designate and announce the special redevelopment zones by December.

The city also announced on the 28th its 2027 plan for designating special redevelopment zones in Bundang, which aims to select a combined 25,000 units from 2027 through 2030. Under the plan, the city will select 10,000 units scheduled for redevelopment in 2027, plus 5,000 units each year from 2028 through 2030 out of an annual 10,000-unit target, for a total of 15,000 units chosen in advance.

Districts selected in advance for the 2028-2030 period will be managed as "preliminary special redevelopment zones." The city says it is the first local government in the country to adopt the approach after a review of relevant laws, aiming to give residents greater predictability in pursuing redevelopment and to ease the burden of having to apply for zone designation every year. For the 2027 round, the city will accept plans for advisory review from May 10 to 14 next year, with main submissions from July 7 to 9.

Original reporting by Woo Young-tak for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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