Seoul Metropolitan Government to Ease Public Contribution Requirements in Development-Excluded Areas Including Gangbuk and Southwestern Seoul; Briefing Set for the 7th

[Financial News] Seoul Metropolitan Government is launching a campaign to promote the newly introduced 'Win-Win Development-Type Prior Negotiation+,' aimed at improving conditions in areas where development has stalled due to insufficient project feasibility and promoting balanced development across Seoul.
Seoul Metropolitan Government announced on the 2nd that it will hold a briefing on the 'Win-Win Development-Type Prior Negotiation+' at 3 p.m. on the 7th in the main conference room on the third floor of Seoul Metropolitan Government. In June, the city revised the relevant guidelines to narrow regional disparities and improve project conditions in development-excluded areas.
The program applies to 11 autonomous districts whose average officially assessed land prices are no more than 60% of the Seoul average: Gangseo District, Gangbuk District, Guro District, Geumcheon District, Dobong District, Seodaemun District, Seongbuk District, Eunpyeong District, Jungnang-gu, Nowon District, and Dongdaemun District.
The key feature is a reduction in the public contribution burden. Previously set at six-tenths of the increased floor area ratio, the burden can now be reduced to as little as three-tenths, depending on the site's location and conditions. The residential ratio can also be determined flexibly during negotiations, taking into account the site's location and public benefits rather than applying a uniform standard.
The two-hour briefing will begin with a review of the results of prior negotiations, followed by an explanation of the purpose and key details of the 'Win-Win Development-Type Prior Negotiation+,' an introduction to the prior negotiation case involving the Gwangwoon University Station logistics site, and a question-and-answer session.
Following the briefing, Seoul Metropolitan Government plans to accept project review applications from November 12 to 13. For submitted projects, the city will provide preliminary consulting to help applicants develop sound plans from the initial stage. The briefing materials and application forms will be posted on the Seoul Urban Space Portal and other platforms after the event. Further details will be available through an infographic news post on the Seoul Metropolitan Government website.
Ahn Dae-hee, Director of Future Spatial Planning at Seoul Metropolitan Government, stated, "The Win-Win Development-Type Prior Negotiation+ is a program designed to support areas with potential where development has been delayed because of insufficient project feasibility." He added, "Through this briefing, we will work to widely promote the program and do our utmost to ensure that local economic revitalization and the creation of essential facilities proceed smoothly."
[email protected] Jeon Min-kyung Reporter