The Korea Land and Housing Corporation (LH) announced on the 5th that it signed a project implementation agreement with the residents' representative council of Gunpo Sanbon Zone 11. The agreement includes detailed provisions such as the division of responsibilities at each project stage and the duties and roles of each party. LH plans to work closely with the residents' representative council to swiftly carry out subsequent procedures.

Gunpo Sanbon Zone 11 was designated as a special maintenance zone in December of last year, followed by the formation of a residents' representative council in June of this year, establishing a project promotion framework. As an additional incentive under the 'Special Act on the Maintenance and Support of Aging Planned Cities,' the floor area ratio has been relaxed to up to 360%, allowing for the planned supply of 3,892 new apartment units.

An LH official explained that this agreement marks an important turning point, with residents and LH cooperating as one team.

Meanwhile, prior to Gunpo Sanbon Zone 11, a project implementation agreement was also signed on July 24 with the residents' representative council of Seongnam Bundang Zones 6 and S3. Based on over 80% resident consent, LH was designated as the project implementer for this zone in June of this year, with 2,475 housing units scheduled to be supplied.

In this way, three first-generation new town pilot districts — Gunpo Sanbon Zone 11, Seongnam Bundang Zones 6 and S3, and Sanbon Zone 9-2 — have signed project implementation agreements with LH and will enter the contractor selection process in the second half of this year. LH has so far signed project implementation agreements with 3 out of 15 first-generation new town pilot districts and plans to pursue procedures for selecting contractors within the second half of the year.