The long delayed development of the (화북) Hwabuk Commercial Area is expected to begin next year. A provincial committee has approved a revised plan for the zone. Joseph Kim reports.


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Commercial area designated in Hwabuk-dong in 1986

This is a 216,000 square meter parcel of land in (화북동) Hwabuk-dong, Jeju City designated as a commercial area in 1986.

There are a few houses scattered around in the fields.

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No progress since development approved in 1995

The development of the commercial area was approved in 1995 but no progress has been made over the last 32 years.

There have been several attempts to revive the planned development before the project was put back on track this year.

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City Planning Committee approves development

The province has recently held a meeting of the City Planning Committee and the committee deliberated on and approved the submitted revised plan for the development.


The revised plan includes 124,000 square meters of land designated for commercial use.

Another 88,000 square meters of land will be used for infrastructure including road construction and 3,400 square meters of land is earmarked for apartment buildings.

The commercial area will have commercial facilities, hotels and apartments by 2022.


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Jeju City expected to break ground early 2019

Jeju City will soon officially make the development public to choose land developers.

It will also appraise the properties on the development site.

Groundbreaking is expected to begin in January or February next year.

Jeju City is planning to apply a 57 percent loss rate of land. That means an owner of land in the development site will lose 57 percent of his property. In return, he will enjoy the benefits of the development.

It will seek public input from area residents on the rate.

Yu Hwa-jin / Jeju City dept. of urban development
After the land appraisal and plans are finished, we’ll draw up a land substitution plan. Anyone who owns more than 150 square meters of land will be compensated with other land. Anyone who owns less than that will be compensated in another way.
< 유화진 / 제주시 도시개발팀장 >
감정 평가를 하고 내 토지가 어디로 가는지 환지 계획이 나오면 권리 면적이 나옵니다. 그게 150㎡ 이상이면 환지를 해주고 미만이면 금전으로 청산하도록 돼 있습니다.

Not to make the same mistakes on the development of the (화북) Hwabuk Commercial Area which has been postponed due to residential opposition and administrative procedures,

[Reporter] Joseph Kim
[Camera] Park Byeong-joon

successful consultation between the city and land owners is the top priority.

Joseph Kim, KCTV