900,000 Pyong Housing Site to Be Prepared in Pangyo

The venture industrial complex of 200,000 pyong will be constructed in Pangyo area, Sungnam city, Kyonggi province.

The Ministry of Construction and Transportation (MCT) and the New Millennium Democratic Party (NMDP) agreed yesterday in the policy consultation meeting to develop the residential land of 900,000 pyong, cut down by 100,000 pyong from the original plan, and the venture industrial complex of 200,000 pyong, increased by 100,000 pyong from the original plan, in the land of 2.8 million pyong of Pangyo-Dong, Unjung-Dong, and Gungnae-Dong.

Only research venture companies will be allowed to move into the venture industrial complex, including small-scale manufacturing venture companies (under 60 pyong), to which the plant quota system under the metropolitan improvement planning law is not applied. 100 percent of the floor space ratio will be applied to the venture industrial complex, and the ratio may be revised during the establishment of the development planning.

The MCT plans to designate Pangyo area as the site for the housing development through the consultation with the related ministries and departments until the end of this year.

Mr. Choi Jae-Duk, the Housing and Urban Affairs Bureau Director of the MCT, said, ``If Sungnam city establishes the development planning by the end of year 2003, the MCT can sell housing lots in June 2005 and houses in December 2005.`` Pangyo New City will create the green tract of land and roads (1.65 million pyong) and commercial facilities (50,000 pyong).

In the residential complex area, ▲ 3,400 single houses of 70-150 pyong size ▲ 1,800 tenement houses of 50 pyong size ▲ 14,500 households of apartments will be constructed. In order to build a new garden city of advanced country`s style, the height of the apartments will be limited no higher than ten-stories, and the green tract ratio will be earmarked 24 percent. And, the city will limit the population density as 64/ha which sums 59,000 population. Thus, the living condition of the city would be more comfortable than Bundang (198/ha), Gwachon (274/ha), and Pyongchon (329/ha).

Hwang Jae-Seong jsonhng@donga.com