New 1 Million Pyung Housing Project to be Developed at Pankyo by 2006

A garden city with population of 59,000 will be developed in the 2.8 million pyung site at Pankyodong, Sungnam City in Kyungki Province by June 2006. A venture industry district and 19,000 single family houses will also be constructed at that site.

To ease heavy traffic, the `New Bundang Line`, a direct subway line that connects Yangjaedong, Seoul to Bundang, passing Pankyo, will be constructed with a budget of 980 billion Won.

Ministry of Construction and Transportation (MCT) announced yesterday, ``we have prepared a blue print of the Pankyo New City after discussing with the New Millennium Democratic Party (NMDP). It will be settled at a party meeting in the end of this month.``

When the plan is settled, the MCT will designate the site as a housing development district by the end of this year, and map out the development plan. The MCT plans to sell the apartment units from the end of 2004.

The MCT has decided to build low story (5 stories) apartment buildings on the 1.5 million pyung site located at the west side of the Kyungbu Express Way. At the 1.3 million pyung site located at the east side of the express way, a venture industry district, mid-high story apartment buildings (10 stories), and an office-commercial district will be developed.

At the 1 million pyung housing district, 3,600 single-family houses (0.4 million pyung), 2,300 multi-family house units (0.18 million pyung), and 13,800 apartment units (0.42 million pyung) will be constructed. To maintain a pleasant environment, they decided to lower the population density to the level of 64 people per ha, which will be less crowded than Bundang (198 people per ha) and Kwachon (274 people per ha).

The venture industry district will be developed at the 0.1 million pyung site with 1,000 enterprises, 10 research centers, and a supporting center for new business.

The MCT said, ``the basic plan can be partly adjusted in the processes of discussing with Kyungki Province and Sungnam City, and collecting opinions from local residents.``

Hwang Jae-Seong jsonhng@donga.com