MOLIT to Hold Redevelopment Briefings in Seoul and Daejeon...Guidance on Relocation Loans and Public Redevelopment

[Financial News] The government will explain reforms to the redevelopment system and financial and public support measures for stakeholders in reconstruction and redevelopment projects.
According to the Ministry of Land, Infrastructure and Transport on the 29th, the "Redevelopment Policy Briefing" will be held in Seoul on Sept. 1 and in Daejeon on Sept. 3. The event is aimed at stakeholders, including reconstruction and redevelopment associations nationwide and project officials.
The briefing was organized to share the policy direction for redevelopment projects and related regulatory improvements, as announced in the "housing rapid supply plan" released on Aug. 13.
MOLIT plans to introduce the direction of reforms to redevelopment-related systems and government support measures, and explain the main points of the proposed revision to the Act on the Improvement of Urban Areas and Residential Environments.
Consultations and guidance will also be provided by relevant agencies. Korea Housing & Urban Guarantee Corporation (HUG) will explain financial support programs, including relocation loans. Korea Land and Housing Corporation (LH) will outline public redevelopment projects. Korea Real Estate Board (KREB) will provide information on construction cost verification.
Anyone can attend the briefing by registering in advance or on a first-come, first-served basis at the venue. Detailed information, including the event location and time, can be found on the Korea Real Estate Board website.
Yoon Young-joong, director of housing redevelopment policy at MOLIT, said, "I hope this briefing will serve as an opportunity to actively make use of the changed policies and various support programs on site. We will continue to actively support efforts to speed up redevelopment projects so that housing supply in urban areas can be realized sooner."
[email protected] Choi Ga-young Reporter