[Seoul] The pace of deregulation in Seoul...Relaxation of Public Contribution in Urban Regulated Areas

The Seoul Metropolitan Government is trying to improve the system by further easing the ratio of public contributions to reconstruction and redevelopment of urban regulated areas and shortening the licensing period, including in the fire and disaster sectors, subject to the integrated review.The city of

said the measures are expected to resolve blind spots in maintenance, which were difficult to implement due to urban regulations, and have a positive impact on the construction industry and housing supply.

Seoul Mayor Oh Se-hoon held a regular executive meeting to abolish economic regulations and announced the abolition of regulations No. 3 and 4, saying, "We need to come up with a new solution suitable for the new era."

Deregulation No. 3 requires that the ratio of public contributions be applied in proportion to the actual additional secured floor area ratio, not 10% when the first phase of the project is raised in urban regulation areas such as cultural properties, schools, and hilly areas.

For example, if the actual floor area ratio is only 220%, the public contribution rate will be reduced from 10% to 4%.The city of

has decided to consider further mitigation of public contributions through deliberation by the Urban Planning Commission for areas that are still less business-friendly despite such measures.

Deregulation No. 4 includes fire-fighting performance-oriented design evaluation and disaster impact evaluation as a subject of integrated deliberation, and the maintenance project is expected to be shortened by more than two months.