![Rep. Bok Ki-wang of the Democratic Party of Korea [Provided by lawmaker's office]](https://wimg.heraldcorp.com/news/cms/2026/08/21/news-p.v1.20260821.067fea361fdc4763b5d8c14c66a945d9_P1.png)
An amendment to the Housing Act aimed at boosting urban housing supply, easing conditions for long-stalled local housing cooperatives and revitalizing remodeling of aging apartment complexes cleared the National Assembly floor Thursday. Rep. Bok Ki-wang of the Democratic Party of Korea — the ruling party's floor manager on the Assembly's Land and Transportation Committee and a lawmaker representing Asan-gap in South Chungcheong Province — welcomed the passage.
Under the amendment, the cap on urban living complexes will rise significantly. Previously limited to fewer than 300 units, such complexes will now be allowed up to 500 units in quasi-residential, commercial and industrial zones, and up to 700 units in transit-oriented areas and other qualifying locations, subject to local government ordinances. The special provision applies on a temporary basis through the end of 2030.
The amendment also lowers the bar for local housing cooperatives stalled over land acquisition requirements. At the cooperative establishment approval stage, cooperatives must secure land sale contracts or rights to use state or public land covering at least 80 percent of the project site — including direct ownership of at least 15 percent. The land ownership threshold required for project plan approval drops from 95 percent to 80 percent.
Pathways for housing supply through aging apartment complexes will also widen. Two or more adjacent complexes will be permitted to form a joint cooperative and carry out remodeling together. Unit subdivision will be allowed for units with an exclusive use area exceeding 85 square meters, enabling an increase of up to 5 percent in the total number of units. Electronic voting will also be introduced to streamline decision-making.
The changes are expected to expand new housing supply in urban and transit-oriented areas while improving conditions for local housing cooperatives and remodeling projects held back by land acquisition hurdles and procedural obstacles.
Bok played a key role in accelerating the implementation timeline so the eased land acquisition standard could take effect immediately. The original bill had set the provision lowering the land ownership threshold from 95 percent to 80 percent to take effect six months after promulgation. Bok determined there was no reason to delay provisions requiring no additional subordinate legislation, and submitted an amendment before the floor vote calling for immediate effect upon promulgation. With the amendment adopted, the provision's implementation moved up by six months.
"Unnecessary regulations and procedures that block housing supply must be removed, and the effects must be felt on the ground," Bok said. "There was no reason to make cooperatives that have already secured most of their land wait another six months simply because of the old 95 percent threshold, so we moved up the implementation date. I hope this amendment helps reduce the financial costs and burdens on cooperative members caused by project delays, and accelerates the delivery of the housing that is needed."
The amendment is a consolidated alternative that the Assembly's Land and Transportation Committee drew up by integrating and reconciling 15 separate Housing Act amendment bills introduced by Bok and other ruling and opposition lawmakers.
bigroot@heraldcorp.com
