Gu District Mayor’s Authority to Cancel Housing Cooperative Projects in Wolgye Station, Wolgye-dong, and Oksu
(Seoul = Yonhap News) Reporter Jeong Su-yeon – The Seoul Metropolitan Government announced on the 27th that it plans to address local housing cooperatives with slow and unclear project progress. The city intends to proceed with the district mayor’s authority to cancel three long-delayed cooperatives and twelve others with unclear operations, such as being out of contact or unable to recruit members properly.
The three cooperatives with long delays include those at Wolgye Station, Wolgye-dong, and Oksu. Other cooperatives with unclear project progress include Cheonho Station A1 Cooperative, which has zero members, and Guro-dong Cooperative, where the number of members is unverified. For the three delayed projects, measures will be established to minimize harm to members, and administrative actions will be taken if mismanagement by the cooperative or its agents is discovered.
In case of cooperative dissolution, the city will dispatch a joint liquidation support team and coordinators. The liquidation support team, comprising lawyers and accountants, will provide consultancy to prevent liquidation plans unfavorable to members, while coordinators will assist in finding project methods suited to local conditions.
Additionally, the city will order the holding of general meetings and prosecute non-compliant projects if the sunset period for some cooperatives has expired. The city will distribute guidelines for dissolution meetings to ensure the quick resolution of projects. Projects already progressing smoothly will receive support for faster advancement.
The city will support expedited reviews and consultations from the designation of unit planning districts and plan decisions to project plan approvals and completions to accelerate redevelopment projects. Han Byung-yong, director of Seoul’s housing department, stated, “We will prevent the excessive proliferation of local housing cooperatives and address those suffering from prolonged project delays.”