Reconstruction of Goejeong Shindongyang Apartment / Extension of Goejeong 2 Reconstruction Project Maintenance Zone Deadline Announcement
- Area of 733, Goejeong-dong, Saha-gu
The Goejeong 2 Reconstruction Project in Goejeong-dong, Saha-gu, has seized the opportunity to restart. This project began in earnest after establishing a promotion committee in 2005 but was halted in 2014 due to a 'nullification of the foundation establishment approval' ruling following various procedural issues. The project faced a long period of stagnation, and the deadline for the release of the maintenance zone was extended in December 2020, rekindling hopes for its resumption.
In March 2021, approval was obtained from the establishment promotion committee, and in February 2022, the establishment approval of the association was completed, resuming the project. However, in the construction company bidding in June 2022, only Doosan Construction participated solo, leading to a failure to award. Ultimately, the association selected Doosan Construction as the preferred negotiating party by changing to a private contract method.
The progress of this reconstruction project is expected to provide a new residential environment for local residents. The future progress of the project remains a focal point of interest.
The Goejeong 2 Reconstruction Project is advancing plans to reconstruct the Shindongyang Apartment (273 units) into 416 units. In December 2023, announcements on the maintenance plan and changes to the maintenance zone for the Goejeong 2 Reconstruction Project are expected.
The Goejeong 2 Reconstruction Project is evaluated positively as it plans to increase the number of units by more than 50%. However, due to the proportional rate not exceeding 100 in the initial plan, the project is experiencing difficulties amid rising construction costs in the recent reconstruction and redevelopment market and a downturn in the real estate market.
Currently, the Goejeong 2 Reconstruction Project is facing these challenges, and additional discussions and direction for running the association are critical. Especially if this project cannot be properly advanced, the possibility of releasing the maintenance zone and the project's collapse will increase, thus rapid response from the association is essential.
In the spotlight is how Doosan Construction, selected as the construction company, will lead the project moving forward, and this is a moment that requires active cooperation and decision-making from the association members. In such situations, a strategic approach by the association will be the key to the project's success.
Announcement No. 2025-76 of Busan Metropolitan City
Announcement of the Extension of the Maintenance Zone Deadline for the Goejeong 2 Reconstruction Project
For the Goejeong 2 Reconstruction Project maintenance zone in Goejeong-dong, Saha-gu, Busan, in accordance with Article 20, Paragraph 6 of the Urban and Residential Environment Maintenance Act, the deadline for the release of the maintenance zone is extended, and in accordance with Article 20, Paragraph 7, it is announced.
March 5, 2025
Mayor of Busan Metropolitan City
1. Extension of Maintenance Zone Deadline
| Zone Name | Location | Zone Area (㎡) | Extended Maintenance Zone Deadline |
| Maintenance Zone for Goejeong 2 Reconstruction Project | Area of 733, Goejeong-dong (Shindongyang Apartment) | 16,269.4 | Until February 7, 2027 |
※ According to Article 20, Paragraph 1, Subparagraph 2, Item d of the Urban and Residential Environment Maintenance Act, this extension is for a period of 3 years from the specified duration
2. Reason for Extension of Maintenance Zone Deadline
- According to Article 20, Paragraph 1, Subparagraph 2, Item d of the Urban and Residential Environment Maintenance Act, landowners (associates) representing at least 30% have requested an extension of the maintenance zone deadline before the specified period, for the planned maintenance of the residential environment, resulting in an extension.
3. Relevant details can be found at the Urban Maintenance Division of Busan Metropolitan City (051-888-4244) and the Building Division of Saha-gu (051-220-4616).
Category
Announcement
Government Agency Division
City
Agency
Busan Metropolitan City
Announcement No.
No. 2025-76
Title
Announcement of the Extension of the Maintenance Zone Deadline for the Goejeong 2 Reconstruction Project
Date
2025-03-05
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