Third New City Speed Race: Gyeyang First to Move In, Private Sales Begin

South Korea's Gyeyang New City is setting the pace for the government's ambitious "third new city" housing development program, with the first residents set to move in by December and private apartment sales kicking off in October. This rapid progress positions Gyeyang as the frontrunner among the new urban developments aimed at expanding housing supply.

Prime Minister Han Duck-soo recently visited Gyeyang to assess the project's status and preparations for the year-end move-ins. He stressed that the effectiveness of the government's August 13 housing supply plan depends critically on swift execution, urging all parties to mobilize for early delivery of homes.

Gyeyang New City, located in Gyeyang District, Incheon, was the first of the third new cities to have its district plan finalized in 2021, followed by pre-sale applications. The project has advanced quickly since construction began in 2024. The initial phase will see 1,285 households move into Blocks A2 and A3 by December, marking the first occupancy in any of the third new cities.

The development spans approximately 3.35 million square meters and is designed to accommodate about 18,000 households, with an estimated population of 44,000. Its strategic location offers convenient access, with Pyeokchon Station on Incheon Line 1 just three stops away from Gimpo International Airport Station.