Abstract
This paper empirically examines critical economic burdens imposed on housing owners in redevelopment area based upon the survey data collected from Youngdeungpo district in Seoul. It first classifies owner groups depending on whether they agree or oppose to redevelopment, plan to resettle or move out, and how much economic burdens are imposed on them. It then identifies that low-income aged owners who have long depended on rental income earned by leasing rooms in a deteriorated single-family house are mostly expected to suffer from economic difficulty caused by loss of monthly rents, obligation to reimburse lump-sum deposits to tenants, and extra cash payment required to afford a new condominium, which is usually provided after redevelopment. From socioeconomic and social welfare perspectives, it thereby suggests that redevelopment projects provide reverse mortgage financing, retail shops for rental purpose, and social welfare facilities besides various housing types