Korea Land and Housing Corporation (LH) announced on the 29th that it held a joint project implementation agreement ceremony with GS Engineering and Construction on the 28th for the redevelopment project of Jung-Hwa District 5.

The location map of the public redevelopment project site in Jungnang-gu, Junghwa-dong, Seoul, District 5. /Courtesy of Korea Land and Housing Corporation

According to the agreement, LH and GS Engineering and Construction will jointly carry out the redevelopment project for Jung-Hwa District 5, focusing on ▲ construction of high-quality multi-unit dwellings ▲ prevention of excessive construction cost increases ▲ reflection of residents' opinions ▲ inflation linkage ▲ and reduction of risks for private developers.

LH and GS Engineering and Construction plan to actively pursue the project together with the residents' representatives' meeting, the representative council of Jung-Hwa District 5 residents.

Jung-Hwa District 5 is an area densely populated with single-family and multi-family dwellings, in need of residential environment improvement. Efforts were continuously made for private redevelopment, but the project faced difficulties in implementation.

It was selected as a candidate site for public redevelopment project by Seoul in March 2021 through an application process. The legal floor area ratio for the general residential area of Type 2 was relaxed, and it was designated as a maintenance zone in December 2023.

Jung-Hwa District 5 is a redevelopment project to supply a total of 1,610 multi-unit dwellings, with a floor area ratio of less than 300% and a maximum of 35 floors, on a site approximately 72,000 square meters in size located at 122 Jung-Hwa-dong, Jungnang-gu, Seoul. The site is near Sangbong Station, a transfer station for subway lines Gyeongui-Jungang and Line 7, as well as Jung-Hwa Station on Line 7. Neighborhood parks and public facilities are also expected to be developed.

On the 28th of the last month, at the joint project implementation agreement ceremony for the public redevelopment project in District 5 between LH and GS Engineering and Construction, Jang Ho-dae (from left clockwise), the branch manager of GS Engineering and Construction, Lee Young-geun, the branch manager of GS Engineering and Construction, Moon Bu-tae, the vice-chairperson of the Junghwa 5 residents' representatives, Jeong Geum-mo, the managing director of GS Engineering and Construction, Kang Dae-ho, the chairperson of Junghwa 5, Kim Soo-jin, the Director General of LH's Urban Redevelopment Division, Kim Tae-kyun, the auditor of Junghwa 5, Han Pyeong-su, a Vice Administrator at LH, Han Gwi-su, the secretary of Junghwa 5, Kang Gi-yeon, a Vice Commissioner at LH, and Park Geon-woo, a Director of LH, are taking a commemorative photo. /Courtesy of Korea Land and Housing Corporation

LH is promoting public redevelopment projects in 20 zones across 13 autonomous districts in Seoul, totaling 28,671 dwellings. Among these, 10 zones have received designation as maintenance zones and project implementation approval.

An LH official noted, "We will quickly advance the public redevelopment project through the joint project implementation agreement for Jung-Hwa District 5," adding, "We will strive to create a residential complex that residents will be satisfied with and expand housing supply in downtown Seoul."