'도시재생 뉴딜 사업' 서울시, 모두 소규모로 전체 99곳 중 7곳 선정돼

The government announced plans to renovate parts of Seoul to improve quality of life.
But amid fears of heating up the local real estate market, only some have been given the go-ahead.
Choi Si-young introduces to us some of these projects.
The Special Committee on Urban Regeneration, chaired by Prime Minister Lee Nak-yon, selected ninety-nine locations across the nation for "urban regeneration" on Thursday.
But only seven districts in Seoul were selected, and only small regeneration projects were approved in the capital.
Last year, no projects were approved.

The reason is the overheating house market.
Large scale development projects are likely to drive up house prices in the area being redeveloped, further pushing up Seoul's house prices.
The Seoul Metropolitan Government originally requested more large development projects in other parts of the city, but the committee turned these requests down.

The Seoul Metropolitan Government says it accepts the government's regeneration plans.
The city added that it does not want to worsen the already overheating real estate market by pushing ahead with large scale development projects.
A month earlier, the Mayor of Seoul announced a development blueprint for Yeouido Island and the Yongsan-gu District of Seoul... but the city has had to put those plans on hold as Seoul's house prices began to rise even further following the announcement.

The government has made assurances that the regeneration projects in Seoul will have little effect on house prices as they are all small in scale.
It added that if the real estate market starts heating up, it will cancel the scheduled projects.

Choi Si-young, Arirang News.