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[Alpha Biz=(Chicago) Reporter Kim Jisun] Those scheduled to move into the AA13 block in Geomdan, Incheon, which was delayed due to the collapse of an underground parking lot, and the Korea Land and Housing Corporation (LH) and GS Engineering & Construction have finally agreed on compensation and reconstruction measures.
The Ministry of Land, Infrastructure and Transport said on the 28th that those scheduled to move into the AA13 in Geomdan, Incheon, and LH and GS Engineering & Construction have drawn up an agreement on how to push for compensation and reconstruction at the LH inspection team.
Land, Infrastructure and Transport Minister Won Hee-ryong, LH President Lee Han-joon and GS Engineering & Construction CEO Huh Yoon-hong attended the meeting.
Earlier on the 24th, prospective tenants finally accepted the compensation proposal proposed by LH and GS Engineering & Construction after voting. LH decided to deduct about 91 million won (based on 84 square meters) from the balance for five years by calculating a fixed interest rate of 8.5 percent per year on the sale price paid by those scheduled to move in. If prospective residents want to, they will pay 50 million won out of 91 million won in advance so that they can use it as housing support expenses. In addition, the company will pay 5 million won for the moving fee. GS Engineering & Construction has raised housing support costs for those who are scheduled to move in from 60 million won (based on 84 square meters) to 90 million won. In addition, the government plans to repay the intermediate payment loans of those who are scheduled to move in by subrogation (guaranteed debt fulfillment).
However, long-term legal disputes are expected to be inevitable after reaching an agreement with those scheduled to move in. First of all, a hearing will be held on the 12th of next month in connection with the Ministry of Land, Infrastructure and Transport's eight-month suspension of operations to GS Engineering & Construction, Dongbu Engineering & Construction and Daebo Engineering & Construction in connection with the collapse.
GS Engineering & Construction plans to file an application for suspension of execution with the court and file a lawsuit for cancellation if the suspension is imposed.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
