The Seoul Metropolitan Government will provide up to 180 million won (U.S. $151,200) worth of subsidies for the renovation of traditional houses. (Image Credit: Pixabay)
SEOUL, June 1 (Korea Bizwire) – The Seoul Metropolitan Government will provide up to 180 million won (U.S. $151,200) worth of subsidies for the renovation of traditional houses.
The announcement was made soon after an area of 550,000 square meters over five districts, including two of the oldest neighborhoods in the capital, was designated as a special zone for the conservation of hanok (traditional-style Korean houses).
“Hanok are important construction heritages vital for the preservation of housing diversity and the identity of Seoul as a city of history and culture,” the city government said.
Seoul said a single house can receive up to 180 million won in compensation for renovation and maintenance costs, while hanok outside the zone are limited to 120 million won in compensation. Newly built hanok in the special zones will receive at maximum 150 million won worth of support.
The city government said it has designated nine separate zones, and plans to ease construction regulations so more hanok can be built in these neighborhoods.
By M. H. Lee (mhlee@koreabizwire.com)
