Ruling party leader’s plan to relocate legislative branch promises potential benefits for housing market
Ruling People Power Party interim leader Han Dong-hoon announced on Wednesday plans to fully relocate the National Assembly to Sejong City and transform the existing site in Yeouido into a cultural and financial hub. The relocation aims to resolve administrative inefficiencies, promote balanced national development and revitalize the local economy. Han emphasized that the move would make Sejong City “a true capital of politics and administration.”
Han also pledged to lift development restrictions in Yeouido and its surrounding areas, enabling Seoul to become a mega-city centered on finance and culture. He expressed confidence that the complete relocation of the National Assembly would serve as a catalyst for Seoul’s development, particularly in the adjacent areas of Mapo, Yeongdeungpo, Dongjak, Yangcheon and Yongsan. Han further stated that the move would help eradicate “Yeouido’s political culture” and restore trust in the National Assembly.
Ruling People Power Party interim leader Han Dong-hoon announced on Wednesday plans to fully relocate the National Assembly to Sejong City and transform the existing site in Yeouido into a cultural and financial hub. The relocation aims to resolve administrative inefficiencies, promote balanced national development and revitalize the local economy. Han emphasized that the move would make Sejong City “a true capital of politics and administration.”
Han also pledged to lift development restrictions in Yeouido and its surrounding areas, enabling Seoul to become a mega-city centered on finance and culture. He expressed confidence that the complete relocation of the National Assembly would serve as a catalyst for Seoul’s development, particularly in the adjacent areas of Mapo, Yeongdeungpo, Dongjak, Yangcheon and Yongsan. Han further stated that the move would help eradicate “Yeouido’s political culture” and restore trust in the National Assembly.
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