Dongtan, Samsung·SK Even Shaking Up School Districts

The existing on-site purification method required up to four years, but allowing off-site removal and purification can shorten the purification period to about one year.

This change enables quicker commencement of construction upon designation as public land, increasing the likelihood that Yongsan will be re-evaluated as an alternative for development projects. This implies that Yongsan could be reconsidered as a major candidate, alongside past development projects like Tancheon.

The Ministry of Environment is currently proceeding with the legislative予告 (legislative preview) for the 'Enforcement Rule of the Soil Environment Conservation Act' related to soil contamination purification. As this enforcement rule is subordinate to the law, it can be amended at the administrative level.

This move by the government is interpreted as an intention to remove major obstacles to Yongsan development and secure momentum for the project's advancement.

This has raised concerns about the financial burden, as vast national taxes would need to be invested in maintaining the park.

This strategy provides tenants with an opportunity to move in at an affordable price and later offers a chance to convert to ownership, thereby attempting to resolve unsold units.

Even with many already built unsold units, additional construction continued, leading to a build-up of unsold inventory.

This phenomenon is considered a clear example of how excessive supply shock affects the real estate market. Even after complexes that failed in pre-sale switched to post-sale, the problem of unsold units persists.

CR REITs are real estate investment trusts established for the purpose of bulk purchases.

For example, JB Asset Management REITs purchased 990 unsold apartments after completion, easing the burden on construction companies. This is gaining attention as a new financial technique to resolve unsold units.

This is a strategy where residents first live in a jeonse unit and then, if they like it, can convert to ownership at a price lower than the market rate.

Similar to the 'Live and Decide' strategy used during the unsold Banpo Xi era, this attempts to gauge market reaction by giving tenants the right to decide whether to purchase the home.

If there is a discrepancy between actual transaction prices for specific complexes and the prices mentioned in content, dissatisfaction arises regarding the objectivity of the information.

This narrows the scope of action for content creators, leading to a situation where they are criticized even when trying to provide good information. This phenomenon stems from the sensitivity of real estate market information and high public expectations.

However, this conversion benefit was a temporary three-year deadline, and if not applied for by the end of September, conversion will no longer be possible from October 1st.

Therefore, existing subscription savings account holders must carefully decide whether to convert within the deadline. Converting is advantageous as it allows access to various benefits of the housing subscription comprehensive savings account.

During periods of rising housing prices, it can be used as a strategy to secure winning potential and buy time.

If immediate funds are needed, a subscription savings account can be used as collateral for a loan, providing financial flexibility. It was emphasized that a consistently paid-in subscription savings account ultimately acts as an asset that does not betray its holder.

Accounts opened after that date, or comprehensive savings accounts, cannot be gifted. This is a special benefit granted only to accounts opened before a specific point in time.

Their economic influence is a phenomenon also noted by foreign media, including Reuters.

These semiconductor company employees primarily gather in Dongtan New Town, and their assets are having a significant ripple effect on the Dongtan regional real estate market. Especially during times when loans are difficult to obtain, their cash holdings and borrowing capacity act as important market variables.

Due to high salaries and stable jobs, these employees are often considered top candidates for marriage. Their active economic activity is not only affecting Dongtan's housing market but also its school districts, changing the regional landscape.

Consequently, the economic power of Samsung Electronics and SK Hynix employees directly influences house prices and living infrastructure in Dongtan New Town, making it emerge as a hub for the new wealthy class.