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The Development Market in 2026...Why We Must Watch NAPC Moves
Chairperson Kim Jin-ae: “Let's Abandon Vanity Landmarks and Return to Fundamentals” ‘4th Basic Plan’ to be finalized in first half of this year... Signaling a shift in development policy Impact on Yongsan, Yeouido, and Sewoon redevelopment inevitable
At the end of 2025, a quiet but meaningful inflection point emerged in Korea’s real estate development landscape. On December 19, the 8th National Architectural Policy Commission (NAPC) was formally launched—an event that is now drawing increasing attention from developers, investors, and planners alike.
At the inauguration ceremony, Chairperson Kim Jin-ae delivered a clear and provocative message, “Korea must abandon the vanity of iconic landmark projects and return to basics,” adding, “We will realize spatial democracy.” The return of Chairperson Kim Jin-ae, an urban engineer and ‘field expert,’ and this statement suggest that the high-rise, high-density development push pursued by the Seoul Metropolitan Government may face a brake.
Particularly, the ‘4th Basic Architectural Policy Plan,’ to be established in the first half of this year, is drawing market attention as it is a statutory plan that will function as a local government permitting judgment criterion, going beyond a simple guideline.

Why the Market is Paying Attention?
The NAPC is not a symbolic advisory body. Established under Article 10 of the Architectural Framework Act, it operates as a presidential-level commission responsible for coordinating Korea’s overarching architectural and urban policy direction.
Its structure is explicitly cross-ministerial. Eleven cabinet-level ministers—including those from Land, Finance, Interior, and Culture—sit as ex officio members. In practical terms, this gives the Commission real leverage over how architectural policy is interpreted, implemented, and enforced across central and local governments.
Most critically, the NAPC formulates Korea’s highest statutory architectural plan: the National Architectural Policy Master Plan. Once adopted, this plan functions as a binding reference point for the Ministry of Land, Infrastructure and Transport (MOLIT), and by extension, for local governments’ permitting and approval decisions.
Municipal authorities are legally required to ensure consistency with this framework.
Chairman Kim defined herself as a ‘speaking architect’ and a ‘policy innovator’ at the official dinner of the UIA (International Union of Architects) on October 21 last year.
This signifies her intent to go beyond desk-bound design and transform the systems and rules themselves. In her inaugural address (September 24, 2025) and Architecture Day speech (October 17, 2025), she repeatedly emphasized the need to “abandon vanity projects like luxury landmarks.”
This is interpreted as a policy message that the Seoul Metropolitan Government will prioritize ‘everyday public utility’ over ‘symbolism’ in projects like the proposed 100-story Yongsan landmark or the Yeouido International Finance District development.

Market Closely Watches What 'Spatial Democracy' Means
The real turning point is expected in the first half of 2026, when the Fourth National Architectural Policy Master Plan (2026–2030) is finalized.
Unlike previous iterations that often read as broad vision statements, Chair Kim has emphasized that this plan will be execution-oriented—a five-year roadmap aligned with both the new national administration and upcoming local leadership cycles.
If adopted as envisioned, the plan will effectively reshape how architectural merit is assessed at the approval stage. Height limits and floor-area ratios may no longer be the primary battleground. Instead, evaluation criteria are likely to tilt toward:
.Continuity and accessibility of public pedestrian networks
.Openness and permeability of lower-floor design
.Integration with surrounding neighborhoods and daily urban life
.Tangible contributions to public space rather than symbolic form
The industry is paying close attention to the possibility that the concept of ‘spatial democracy’ will be reflected in this plan as a policy indicator.
However, if these criteria are included in the national master plan, they are highly likely to serve as a policy basis for the Ministry of Land, Infrastructure and Transport to request revisions, supplements, or re-examination from local governments in large-scale projects like high-density development around transit hubs or the Yongsan International Business District.
Suggests Active Intervention In the Private Sector Through Regulatory Reset
Perhaps most consequential for the development industry is Kim’s consistent framing of regulatory reset.
At a Democratic Party policy seminar on November 17, 2025, she pointed out that 97% of Korea’s buildings are privately developed, arguing that architectural reform cannot be limited to public projects alone.
The implication is clear: quality control, design standards, and policy expectations are likely to extend deeper into private-sector development.
For developers, this suggests a shift in where core project risk resides. Financing conditions and pre-sale markets will always matter—but post-2026, the decisive variable for large, symbolic projects may be policy alignment with central government values.
In that sense, projects like Yongsan, Yeouido, and Sewoon face a new test. The critical question is no longer how tall or how iconic a scheme can be, but what kind of urban life it enables.
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