'도시재생 뉴딜 사업' 서울시, 모두 소규모로 전체 99곳 중 7곳 선정돼<br /><br /> The government announced plans to renovate parts of Seoul to improve quality of life.<br />But amid fears of heating up the local real estate market, only some have been given the go-ahead.<br />Choi Si-young introduces to us some of these projects. <br /> 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.<br />But only seven districts in Seoul were selected, and only small regeneration projects were approved in the capital.<br />Last year, no projects were approved.<br /><br /> The reason is the overheating house market.<br />Large scale development projects are likely to drive up house prices in the area being redeveloped, further pushing up Seoul's house prices.<br />The Seoul Metropolitan Government originally requested more large development projects in other parts of the city, but the committee turned these requests down.<br /><br /> The Seoul Metropolitan Government says it accepts the government's regeneration plans.<br />The city added that it does not want to worsen the already overheating real estate market by pushing ahead with large scale development projects.<br />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.<br /><br /> 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.<br />It added that if the real estate market starts heating up, it will cancel the scheduled projects.<br /><br />Choi Si-young, Arirang News. <br />
