“We were first to propose raising the floor-area ratio to 1.2 times”: Seoul City pushes back against Hong Ji-seon

[Financial News] Seoul City pushed back against Minister of Land, Infrastructure and Transport Hong Ji-seon’s remark that the minister was waiting for the city’s response to a plan to raise the floor-area ratio for private redevelopment projects to as much as 1.2 times, saying, “The government should respond first.”
The city said in a statement on the 30th, “Raising floor-area ratios for redevelopment projects is a measure to expand housing supply that Seoul City proposed first,” and stressed, “Since the city’s position has already been conveyed, the government should move swiftly to amend the law rather than wait for an additional response.”
Earlier that morning, Minister Hong visited the site of the Sanggye 2 District redevelopment project in Nowon District, Seoul, and answered reporters’ questions about raising floor-area ratios and supplying housing at Yongsan Park. In the exchange, the answer indicated that Minister Hong was waiting for Seoul City’s position on the floor-area-ratio cap. Amending the Act on the Improvement of Urban Areas and Residential Environments is necessary to raise the legal cap on the floor-area ratio to 1.2 times.
The city added, “It is not appropriate to describe the institutional improvements proposed by Seoul City as ‘Seoul City’s cooperation’ or link them to announcements of additional housing sites,” and said, “The increase in floor-area ratios should be pursued swiftly, without being linked to other issues.”
Regarding Minister Hong’s comment about the Yongsan Park site—“Let’s set aside issues that require public deliberation and legislation and work together first on matters that can be resolved right away, such as the Urban Improvement Act”—the city reaffirmed its principle that the site should be developed entirely as a park.
The city said, “Yongsan Park is a national space being returned to citizens after 120 years,” and added, “In line with the purpose of the Special Act on the Creation of Yongsan Park, enacted in 2007, and the consensus of the public, the park’s main site must be developed entirely as a park and cannot be used for housing supply. We have consistently stated this principle.”
The city said, “We have already proposed measures to expand housing supply, including raising floor-area ratios for redevelopment projects and using alternative sites, so it is now the government’s turn to respond,” adding, “The government should accelerate efforts to expand housing supply through swift amendments to the law and active consideration of alternative sites.”

[email protected] Kwon Jun-ho Reporter