President Yoon Suk Yeol pledged to review eligibility guidelines for reconstruction and redevelopment projects in the country from square one.

During a field inspection of the "Moa Town" small-scale housing regeneration project in Seoul's Jungnang District on Thursday, Yoon noted that over half of all homes in Seoul are at least 20 years old and many low-rise buildings are well past 35 years, causing great inconveniences for residents.

Yoon then called for a change in existing eligibility guidelines to prioritize depreciation rather than the current primary gauge of safety risks in a bid to prevent residents from allowing their homes to fall into disrepair.

He also pledged to strengthen state support for small-scale projects like Moa Town, which was initially selected as one of Seoul's large-scale new town redevelopment initiatives some 20 years ago but has faced delays for failing to fulfill requirements.