South Korea Plans 5,600-Household 'Yeokgok District' in Bucheon; 'House Story' Apartments Open Subscriptions in June

Bucheon City is set to transform the Yeokgok area into a modern residential hub with the development of the Yeokgok Public Housing District. This large-scale project, covering approximately 660,000 square meters across Yeokgok-dong and Chunui-dong in Wonmi-gu, aims to create a cohesive living environment for around 5,600 households.

The district's development prioritizes a systematic urban plan that blends educational facilities, commercial zones, and ample green spaces. Plans include the construction of new kindergarten and elementary school sites, commercial areas, a large neighborhood park, and a retention basin. This integrated approach is expected to meet local housing demand and create a synergistic effect with Bucheon's existing urban infrastructure.

Bucheon, located near Seoul, faces a significant need for new housing due to a high proportion of aging apartments. Data indicates that over 64.8% of apartments in Bucheon are over 20 years old, far exceeding the provincial average. The Yeokgok District project is poised to improve the living environment in the eastern part of Bucheon by providing new apartments and modern infrastructure.

Transportation is another key advantage, with the district offering convenient access to both Seoul's southwestern areas and Bucheon's main commercial and cultural centers. Residents can utilize Subway Line 1 (Yeokgok Station) and Line 7 (Kkachiul Station), ensuring ease of travel within the region and to the capital.

'House Story,' a major apartment complex within the Yeokgok District, is scheduled for its main subscription phase in June. Developed by Namkwang Engineering & Construction Consortium, the complex will feature 13 buildings with up to 25 floors, totaling 1,464 units. A significant portion, 976 units, will be offered as public housing for newlyweds under the 'New Hope Town' initiative, with a uniform 55-square-meter size. The project is expected to offer reasonable prices due to the application of the 분양가 상한제 (presale price cap system). The complex will also include child-friendly community facilities like an indoor playground and a childcare center. Eligibility for subscription includes newlywed couples married within seven years or with children under six, prospective newlyweds, and single-parent families with children under six. Financial support, including long-term loans at a fixed 1.3% interest rate, is available.