South Korean urban redevelopment and revitalization

South Korean authorities are implementing various initiatives to modernize aging districts and revitalize declining urban areas.

In the Seoul metropolitan area, local governments are advancing residential redevelopment. In Incheon’s Seohae-gu, officials are launching a ‘one-stop’ administrative system to support reconstruction projects and urban regeneration near Seohae-gu Office Station. In Seoul’s Jungnang-gu, the Myeonmok 7 district has received approval for a private residential project that will construct 1,515 apartment units, including 290 units of public housing, alongside new local infrastructure such as parks and social welfare centers.

On a national level, the government has announced the ‘RE:CORE Project,’ a pilot initiative to repurpose vacant commercial spaces and idle buildings in old town centers. This collaborative effort between multiple ministries aims to convert vacant shops into studios, coworking spaces, and pop-up stores, while transforming larger idle facilities into specialized hubs for culture and startups. The project will provide rent support for youth and entrepreneurs, with pilot operations expected to begin in major regional zones outside the Seoul metropolitan area starting in 2027.

Expanding on these national efforts, the Ministry of Land, Infrastructure and Transport has opened the application process for 2027 urban regeneration projects. To improve business plan quality, the government has extended the preparation period to over three months and will offer preliminary consulting for local governments. The program features three categories: Regional Specialized Regeneration, which utilizes local culture to build city brands with up to 15 billion KRW in funding; Old Residential Area Improvement, targeting low-rise areas and vacant houses; and Recognized Projects, which support small-scale infrastructure and remodeling. Local governments must submit plans by the end of the year, with final sites to be determined in early 2027.