Speeding Up the Redevelopment of First-Generation New Towns... Special Act on the Maintenance and Support of Aging Planned Cities Passes Land, Infrastructure and Transport Committee

[Financial News] The amendment to the Special Act on the Maintenance and Support of Aging Planned Cities, which supports the swift promotion of redevelopment projects in aging urban areas, has passed the Land, Infrastructure and Transport Committee of the National Assembly with bipartisan agreement. If it passes the plenary session, unnecessary or cumbersome procedures in the redevelopment of First-Generation New Towns, which were completed over 30 years ago, will be streamlined, giving new momentum to these projects.
On this day, the Land, Infrastructure and Transport Committee held a full session and approved the amendment to the Special Act on the Maintenance and Support of Aging Planned Cities. This amendment was prepared as a legislative follow-up to the government's 'Housing Supply Expansion Plan' announced on September 7.
The core of the amendment is a special provision that allows the simultaneous establishment of a special maintenance plan guaranteed by the Special Act on the Maintenance and Support of Aging Planned Cities and a project implementation plan under the Act on the Improvement of Urban Areas and Residential Environments. This aims to shorten the time-consuming procedures required for project implementation plans.
Additionally, the amendment provides a legal basis for the operation of the aging planned city maintenance platform, further facilitating redevelopment projects and paving the way for a faster supply of housing.
Han Jun-ho, a member of the Land, Infrastructure and Transport Committee who sponsored the amendment, explained, "The redevelopment of aging planned cities is one of the key means to systematically revitalize deteriorated planned cities and supply housing within urban areas," adding, "It is crucial to provide institutional support so that redevelopment projects can proceed quickly."
However, the amendment to the Act on the Improvement of Urban Areas and Residential Environments, which is intended to further promote reconstruction and redevelopment on a broader scale, remains under subcommittee review.
Accordingly, the Ministry of Land, Infrastructure and Transport (MOLIT) has urged the National Assembly to promptly process not only the amendment that passed the committee but also the amendment to the Act on the Improvement of Urban Areas and Residential Environments.
Kim Heon-jeong, Director of Housing Policy at MOLIT, stated at a forum held at the National Assembly on the 18th of last month, "The amendment to the Act on the Improvement of Urban Areas and Residential Environments has been submitted to the National Assembly, and we hope it will be passed as soon as possible."
Meanwhile, on the same day, the Land, Infrastructure and Transport Committee also passed, by bipartisan agreement, an amendment to the Aviation and Railway Accident Investigation Board Act that will make the Aviation and Railway Accident Investigation Board (ARAIB), which is investigating the Jeju Air Flight 2216 disaster, an independent body.
Currently, ARAIB operates under MOLIT, but if the amendment passes the plenary session, it will become an independent investigative body under the Prime Minister of South Korea.
As ARAIB, which is investigating the Jeju Air Flight 2216 disaster, is currently under the direction and supervision of MOLIT, bereaved families have expressed concerns about the credibility of the investigation results. In response to these concerns, both parties agreed to make the investigation board independent.
gowell@fnnews.com Kim Hyeong-gu Reporter