1. Reason for Amendment
   To promote swift and flexible urban renewal projects, the amendment to the Urban and Residential Environment Improvement Act (Law No. 20759, promulgated on January 31, 2025, and effective from May 1, 2025) relaxes the regulatory requirements for the approval of reconstruction association establishment, shortens the notification period for the results of the property valuation and estimated share fees for landowners, and reduces the time for distribution announcements. In light of these changes, the amendment stipulates the specific relaxation criteria for the approval of reconstruction association establishment and allows for an extended notification period for distribution announcements in certain circumstances, in accordance with the provisions delegated by the law.
   
   

2. Key Provisions
   a. The approval requirements for the establishment of a reconstruction association will be relaxed for unit-specific consent. This will apply when the number of separate property owners increases after the date set by the relevant local government, following the announcement or notice of the urban renewal project. The requirement will be reduced to one-third of the total (Article 30).
   b. The criteria for forming a unified review committee will be expanded, with a total membership of 150 people, and will require at least two members from each of the committees listed in Article 50-2, Sections 6 and 7 (Article 46-2).
   c. For redevelopment projects where the designated area exceeds the size set by the local government ordinance, the notification period for the distribution announcement will be extended by 30 days, limited to one extension (Article 59).

Note: Among the seven regulatory review items currently under review (Receipt No. 2025-841), one item related to the approval requirements for reconstruction association establishment will be separated for a re-application to facilitate the swift progress of the timely legislation.