Announcement of the Change Approval for the Small-Scale Reconstruction Project of Samwol Housing in Yongho-dong
- Samwol Apartments in Yongho-dong, Nam-gu, Busan, 366-7, -29, -32, -33
The small-scale reconstruction project of Samwol Housing in Yongho-dong, Nam-gu, Busan is currently gaining momentum after receiving the recent approval for the change in the project implementation plan. The city of Busan announced the plan changes on March 20, 2025, and officially released it on March 26. This change is expected to positively influence the progress of the project.
The reconstruction project of Samwol Housing is being carried out on three parcels of land that include 366-7 Yongho-dong, Nam-gu, Busan. The project will cover a total area of 2,236.40㎡, standing from 3 basement levels to 16 stories above, consisting of one residential building capable of accommodating 120 households and neighborhood living facilities.
The types of units range from 49㎡ to 72㎡, configured into seven different types focused mainly on small to medium-sized units. All units will be available for general sale, and there will be no rental housing included.
In February of this year, concerns arose that the project might come to a halt with the exclusion of Mugunghwa Trust Co., Ltd. as the project agent, but this is not the case. The project is currently proceeding smoothly, and the main contents of the recently announced changes are as follows.
First, the address of the association has been changed; second, the project implementation period has been extended from the previous 48 months to 84 months. Third, modifications to the funding plan have been made, which include adjustments to the construction unit price and the reflection of asset re-evaluation after completion. Finally, the previously approved supplemental items will also be reflected. However, the architectural design will remain the same as before.
With this change approval, the association is expected to further strengthen the project's stability, and subsequent processes such as the establishment of management disposition plans will be actively pursued.
The Yongho-ro 123beon-gil area has a high demand for maintenance projects due to the concentration of aging houses. As the Samwol Housing maintenance project progresses normally, investor interest in nearby small-scale maintenance projects in Yongho-dong is also increasing.
Announcement No. 2025-39 of Nam-gu, Busan Metropolitan City
Announcement of the Change Approval for the Small-Scale Reconstruction Project of Samwol Housing in Yongho-dong
An announcement of project implementation approval was issued under the announcement number No. 2022-78 (July 27, 2022), for the "Yongho-dong Samwol Housing Small-Scale Reconstruction Project" in the area of 366-7 Yongho-dong, Nam-gu, Busan, under the provisions of Article 29 (Approval of Project Implementation Plan) of the Special Act on Maintenance of Vacant Houses and Small-Scale Housing. The change in the project implementation plan is hereby announced in accordance with Article 29, Paragraph 5 and Article 10, Paragraph 2, Subparagraph 1 of the Enforcement Regulations of the same Act.
March 26, 2025
Mayor of Nam-gu, Busan Metropolitan City
1. Type and Name of the Project
a. Type: Small-Scale Reconstruction Project
b. Name: Yongho-dong Samwol Housing Small-Scale Reconstruction Project
2. Location and Area of the Project Implementation Zone
a. Location: 3 parcels including 366-7 Yongho-dong, Nam-gu, Busan
b. Area: 2,236.40㎡
3. Name and Address of the Project Implementer (Change)
a. Implementer: Samwol Housing Small-Scale Reconstruction Project Association
b. Address:
| Current | Changed |
| 302, 5-dong, 105 Yongho-ro, Nam-gu, Busan | 203, 69 Yongho-ro 123-gil, Nam-gu, Busan (Yongho-dong, Yeongsin Mansion) |
4. Implementation Period of the Project (Change)
| Current | Changed |
| 48 months from the date of project implementation plan approval | 84 months from the date of project implementation plan approval |
5. Date of Change Approval for the Project Implementation Plan (Change): March 20, 2025
6. Reason for Change: Change of the association address, extension of the project implementation period, amendment of the management disposition funding plan (reflecting adjustments in the construction unit price, asset re-evaluation, etc.), reflecting the supplemental items of the existing project implementation plan approval, etc. (No change in architectural design)
7. Matters Related to the Construction Plan of the Building Including Land Area, Building Coverage Ratio, Floor Area Ratio, Height, and Use
| Category | Details | Category | Details |
| Land Area | 2,236.40㎡ | Building Area | 1,267.5528㎡ |
| Building Coverage Ratio | 56.68% | Total Floor Area | 16,520.9153㎡ |
| Floor Area Ratio | 481.41% | Maximum Height | 47.30m |
| Usage | Residential (Apartment, Urban-Type Living Housing) and Second Type Neighborhood Living Facilities | Scale | 3 Basements, 16 Floors |
| Number of Buildings | 1 Building | Number of Households | 120 Households |
8. Housing Scale and Construction Plan
| Supply Category | Housing Type | Number of Buildings | Number of Households | 49A | 63A | 66A | 72A | 63B | 64B | 70B |
| Total | Residential | 1 | 120 | 30 | 28 | 28 | 28 | 2 | 2 | 2 |
| Sale | Residential | 1 | 120 | 30 | 28 | 28 | 28 | 2 | 2 | 2 |
| Rental | - | - | - | - | - | - | - | - | - | |
| Standard Area (㎡) | | | | 49.1207 | 63.0683 | 66.5574 | 72.9861 | 63.0683 | 64.1525 | 70.2903 |
9. Scale and Distribution Plans of the Sale or Classification of the Land
| Target Supply | 49A | 63A | 66A | 72A | 63B | 64B | 70B | Total | Commercial Area (㎡) |
| Total | 30 | 28 | 28 | 28 | 2 | 2 | 2 | 120 | 862.0039 (Sale Area) |
| Landowners | 7 | 3 | 4 | 1 | 3 | 5 | 3 | 55 | 57.0063 ※Store No. 102 |
| Reserved Facilities | - | - | - | - | - | - | - | - | - |
| General Sale | 23 | 30 | 23 | 8 | 0 | 2 | 0 | 65 | 804.9976 ※Store No. 8 |
| Rental | - | - | - | - | - | - | - | - | - |
10. Matters Concerning the Attribution of Maintenance Infrastructure: Not applicable
11. Matters on Licensing or Deemed Issues under Other Laws
Deemed issues of approval under Article 55 of the Special Act on Maintenance of Vacant Houses and Small-Scale Houses.
Category
Announcement
Class of the Agency
District
Agency
Nam-gu
Announcement Number
No. 2025-39
Title
Announcement of the Change Approval for the Small-Scale Reconstruction Project of Samwol Housing in Yongho-dong
Date
2025-03-26
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