The Saemangeum project, which began in 1991, is designed to convert about 120 million pyeong of mud flats into farmland and a reservoir by building a 33-kilometer seawall off the coast. Many scientists and specialists will continue to monitor and study the effects of the damming up and how it will affect the ocean environment. The long-term plans and visions for development of Saemangeum are needed.

The recent speculation fever in Kangnam have been cooled down by the August 31 heavy taxation tool for curbing speculators. Another March 30 real estate control equipped with high capital gains tax up to 50% was targeting reconstruction projects of dilapidated apartment complexes mostly inside of Kangnam area. The shortage of larger unit supply with its high demand results in price polarization problem. It makes higher price for larger units and less price for smaller units, and therefore higher priced home owners become richer and lower priced home owners become poorer. To avoid the polarization problem and anther probable price hikes in the near future, it may be suggested to supply quality homes by loosening the tight rules for the apartment reconstruction project, and thereby kangnam housing price stabilization can be achieved.