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| Land Minister Kim Hyun-mee, left, speaks at the government complex in Seoul, Tuesday, to announce plan to supply 110,000 new apartments in cities surrounding Seoul. In addition, the government announced two bed towns in Goyang and Bucheon in Gyeonggi Province. Gyeonggi Governor Lee Jae-myung, second from left, also attended the press conference. Korea Times photo by Shim Hyun-chul |
By Kwak Yeon-soo
The government plans to build an additional 110,000 new apartments primarily in cities surrounding Seoul, including the creation of two new commuter towns, to help curb rises in home prices, the Ministry of Land, Infrastructure and Transportation said Tuesday.
In addition to 35,000 new homes announced in September and 155,000 in December, 110,000 new apartments will be constructed on 28 sites around Seoul and Gyeonggi Province.
The two Gyeonggi Province sites selected were in Goyang, providing 38,000 homes, and Bucheon, offering 20,000 dwellings.
The four other satellite cities revealed in December include Namyangju providing 66,000 apartments, Hanam offering 32,000, Gwacheon with 7,000 and Gyeyang Techno Valley in Incheon with 17,000.
The land ministry said the government took full account in selecting the locations, adding that the housing supply plan is part of the government's broad plan to supply 300,000 homes to Seoul and adjacent areas.
"The two new commuter towns will accommodate twice as much space for support facilities than that of existing satellite cities, which will be used for housing venture companies, urban factories and other startups," Land Minister Kim Hyun-mee said during a press conference. "As a result, the large residential complexes will create new jobs."
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To shorten the commute between Seoul and the selected sites, the government plans to extend existing subway lines, establish new transfer stations and railway systems, and expand bus rapid transit (BRT) services, the ministry said.
"The government will build new public transportation infrastructure to allow residents to commute to central Seoul within 30 minutes," Kim said.
The ministry also rolled out plans to turn new commuter towns into eco-friendly areas, saying it will transform one-third of the entire land into national parks and run community and daycare centers to promote public welfare.
Last September, the government announced it would supply more than 300,000 affordable homes in the capital region in the coming years.
The plan comes in line with President Moon Jae-in's pledge to provide more public housing for low-income families and young people.
Housing prices in the Seoul capital area have been falling since October due to the government's mass housing supply plans and hefty taxation on real estate.
"The government will continue its efforts to curb the soaring housing prices in Seoul and metropolitan areas by providing low-priced but quality homes," Kim said.
