71% of public housing plan amendments over the past year extended project timelines...delays of up to six years

[Financial News] Over the past year, seven out of 10 approved amendments to public housing construction plans resulted in extended project timelines. At some sites, timelines were extended by as much as six years, while project costs also rose, disrupting the supply of public housing.
An analysis by Financial News of notices approving amendments to public housing construction plans over the past year, from November 6, 2025, to November 6, 2026, found that project timelines were extended in 54 of the 76 cases (71.1%), out of 78 notices in total, excluding two correction notices.
The extensions ranged from a minimum of one month to a maximum of 72 months (six years). The sites with the largest extensions were Seokmun National Industrial Complex B-3BL and Janghang National Eco-Industrial Complex A-2BL and B-1BL—three sites in all—each with its timeline extended by six years. Long delays were also reported at Seongnam Jungwon, whose timeline was extended by 70 months; Uijeongbu Ujeong S-1BL, by 54 months; and Seongnam Bokjeong 2 A-1BL, by 50 months.
Numerous cases also showed project costs rising alongside timeline extensions. Cost increases were specified in 38 of the 78 cases, and in six cases the number of homes to be supplied fell despite higher project costs. At Seongnam Bokjeong 1 C1BL, the project’s housing supply was reduced by 24 units while costs rose by about 19.7 billion won. At Busan Myeongji 2 A-6BL, the number of homes to be supplied fell by 82, but costs increased by about 57.2 billion won.
In particular, timelines were extended for multiple blocks within the same district in the 3rd Generation New Towns. In Namyangju Wangsuk 2, timelines were extended by 16–26 months across four blocks: A-1BL, A-3BL, A-6BL and A-7BL. In Namyangju Wangsuk as well, timelines were extended by between three and 24 months across three blocks: A-24BL, A-25BL and B-17BL.
Public housing projects involve multiple procedures, including land compensation, permits and approvals, and infrastructure development, so extended timelines can affect supply schedules. In particular, prolonged timelines can lead to higher construction and financing costs, potentially increasing the project’s financial burden.
An industry official said, “Even if a project is approved, it is difficult to begin construction unless land compensation and consultations with relevant agencies have been completed,” adding, “It is important to reduce factors that could cause delays from the early stages of a project.”


[email protected] Choi A-young Reporter