Mangmi 5 Redevelopment Project Maintenance Plan Decision and Maintenance Area Designation Announcement
- Area of 458-2 Mangmi-dong, Suyeong-gu
The Mangmi 5 Redevelopment Project maintenance area located at 458-2 Mangmi-dong, Suyeong-gu, Busan has been approved for a maintenance plan and designated as a maintenance area according to Article 16 of the Urban and Residential Environment Maintenance Act. This decision aims to improve the residential environment of this area, which has many dilapidated buildings, and to maintain the infrastructure.
After the residents' consultation and explanation meeting regarding the maintenance plan decision and designation (draft) held in August 2024, the final designation announcement was made about seven months later. This change is expected to have a positive impact on local residents.
The total project area is 103,695㎡, with an estimated number of units at 1,898 and about 1,000 members expected in the cooperative. This project is likely to positively influence the demand for potential residents, as it has a high ratio of medium and large unit types, particularly those over 84㎡. However, the total number of units and the configuration of unit types have not yet been confirmed and may change during the project's progress.
Specifically, over 40% of the total units are planned to be built within 85㎡, and more than 10% will be designated as rental housing. This is evaluated as an important measure for residential stability among various social classes. Moreover, this aims for sustainable apartment complexes and applies incentives for easing floor area ratio through green building certifications and energy efficiency ratings, allowing a maximum floor area ratio of 276%, with the planned floor area ratio set below 275%. These elements are expected to contribute to improving the residential environment and promoting sustainable development.
Although the Mangmi 5 area is not in a station area, public transportation is very convenient. It takes about 15 minutes on foot to reach Mangmi Station on Line 3, and there are various bus routes that allow easy access to major areas in Busan such as Centum City and Seomyeon. Additionally, due to its proximity to Baesan Elementary School and the nearby Mangmi Middle School and Namil High School, it offers an excellent educational environment.
The natural environment also serves as a significant advantage for this area, with Baesan located to the west of the complex, allowing residents to enjoy a rich green environment. Moreover, large warehouse-style marts like Costco and E-Mart Traders nearby enhance the convenience of daily life. Proximity to the Centum City commercial area is also expected to be an attractive factor for residents in this area.
As the construction company is selected and a detailed project schedule is confirmed in the future, positive changes in the local real estate market are expected. In particular, if the zoning change to a 3rd general residential area occurs, there is a high possibility that the number of floors and the floor area ratio of buildings will increase, attracting more interest from investors.
In addition to Mangmi 5, various redevelopment projects such as Mangmi Jugong reconstruction, Mangmi 7 area, and Mangmi 6 area are actively underway in the surrounding region. As these developments progress, improvements in local infrastructure and increases in real estate value are expected. While Mangmi-dong may not be the best location in Busan, the ongoing developments are likely to continually enhance the residential environment.
Announcement No. 2025-90, Busan Metropolitan City
Announcement of the Maintenance Plan Decision and Maintenance Area Designation for the Mangmi 5 Redevelopment Project
1. Regarding the Mangmi 5 Redevelopment Project maintenance area in Mangmi-dong 458-2, Suyeong-gu, Busan, following Article 16 of the Urban and Residential Environment Maintenance Act, the maintenance plan decision and designation of the maintenance area are announced as follows, and the topographical map is announced according to Article 8 of the Basic Act on Land Use Regulation and Article 7 of the Enforcement Decree of the same law.
2. The related documents (available for viewing at "http://www.eum.go.kr") are kept at the Urban Maintenance Department of Busan Metropolitan City (☎051-888-4234) and the Architecture Department of Suyeong-gu (☎051-610-4665) for public access.
March 12, 2025
Mayor of Busan Metropolitan City
Ⅰ. Designation of Maintenance Area and Maintenance Plan Decision
1. Redevelopment Maintenance Area Designation Statement
| Designation Category | Project Type | Area Name | Location | Area (㎡) | Remarks |
| New Designation | Redevelopment Project | Mangmi 5 Redevelopment Project Maintenance Area | Area of 458-2 Mangmi-dong, Suyeong-gu | 103,695 | - |
2. Redevelopment Maintenance Plan
○ Plan regarding land use
| Type | Name | Area (㎡) | Ratio (%) | Remarks | |||
| Urban Management Planning Land District | Total | 103,695 | 100.0 | - | |||
| 2nd General Residential Zone | 17,956 | 17.3 | - | ||||
| 3rd General Residential Zone | 85,739 | 82.7 | Some areas in the subject site change from 2nd to 3rd | ||||
| Land and Maintenance Infrastructure (Urban Planning Facilities) | Total | 103,695 | 100.0 | - | |||
| Land | 73,359 | 70.8 | |||||
| Apartment Land | 70,701 | 68.2 | |||||
| Facilities for the Elderly | 1,179 | 1.1 | |||||
| Religious Facilities | 1,479 | 1.5 | |||||
| Maintenance Infrastructure (Urban Planning Facilities) | 30,336 | 29.2 | - | ||||
| Park | 5,430 | 5.2 | - | ||||
| Linear Park | 1,327 | 1.3 | - | ||||
| Children’s Park | 4,103 | 3.9 | Park Overlap Decision | ||||
| (Parking Lot) | (4,103) | (3.9) | |||||
| Road | 24,906 | 24.0 | |||||
○ Plan Regarding Zoning and District Changes
| Type | Area (㎡) | Ratio (%) | Remarks | |||
| Existing | Change | Post Change | ||||
| Total | 103,695 | - | 103,695 | 100.0 | - | |
| Zoning | 2nd General Residential Zone | 103,695 | Decrease) 85,739 | 17,956 | 17.3 | - |
| 3rd General Residential Zone | - | Increase) 85,739 | 85,739 | 82.7 | - | |
■ Zoning Change Justification Document
| Map Display Number | Location | Zoning | Area (㎡) | Decision (Change) Justification | |
| Existing | Change | ||||
| - | Area of 458-2 Mangmi-dong | 2nd General Residential Zone | 3rd General Residential Zone | 85,739 | • The subject area is densely populated with aging and poor-quality buildings, necessitating improvement of the residential environment and maintenance of infrastructure; therefore, a decision is made to change from 2nd to 3rd General Residential Zone for efficient land use. |
○ Estimated Contributions per Land Owner and Calculation Basis
| Estimated Contribution Amount | Estimated Total Revenue | Estimated Total Project Cost | Estimated Total Asset Value | Estimated Ratio |
| 1,081,546,237,860 | 778,364,000,000 | 297,227,077,940 | 102% | |
| Calculation Basis | ⦁Estimated Total Asset Value = Sum of Estimated Total Asset Value per Land Owner⦁Estimated Ratio = (Estimated Total Revenue – Estimated Total Project Cost)/Estimated Total Asset Value × 100%⦁Estimated Contribution per Land Owner = Price of Cooperative Member - Right Value | |||
The estimated amount and individual contributions of total assets may change according to future management and disposition plans.
Moreover, the planning of building purpose, building coverage ratio, floor area ratio, and height is also important. These factors significantly impact the overall progress of the project and should be carefully considered.
| Type | Area Division | Housing or Lot Division | Location | Primary Use | Building Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) | Remarks | ||
| Name | Area (㎡) | Name | Area (㎡) | |||||||
| New | Mangmi 5 Redevelopment Project Maintenance Area | 103,695 | A-1 | 24,495 | Area of 937-84 Mangmi-dong, Suyeong-gu | Apartment and Auxiliary Facilities | ≤ 50 | ≤ 286 | ≤ 102 | |
| A-2 | 35,980 | Area of 436-5 Mangmi-dong, Suyeong-gu | Apartment and Auxiliary Facilities | ≤ 50 | ≤ 286 | ≤ 102 | ||||
| A-3 | 10,226 | Area of 937-98 Mangmi-dong, Suyeong-gu | Apartment and Auxiliary Facilities | ≤ 50 | ≤ 210 | ≤ 102 | ||||
| A-7 | 432 | Area of 554-11 Mangmi-dong, Suyeong-gu | Facilities for the Elderly | ≤ 60 | ≤ 220 | ≤ 30 | ||||
| A-8 | 363 | Area of 554-29 Mangmi-dong, Suyeong-gu | Religious Facilities | ≤ 60 | ≤ 220 | ≤ 30 | ||||
| A-9 | 1,116 | Area of 937-228 Mangmi-dong, Suyeong-gu | Religious Facilities | ≤ 60 | ≤ 200 | ≤ 30 | ||||
| A-10 | 747 | Area of 937-221 Mangmi-dong, Suyeong-gu | Facilities for the Elderly | ≤ 60 | ≤ 220 | ≤ 30 | ||||
| Housing Size and Ratio of Construction by Size | ⦁More than 40% of the total units being built will be less than or equal to 85㎡ | |||||||||
| Matters Concerning Rental Housing Construction | ⦁More than 10% of the total units being built will be rental housing⦁More than 30% of the total rental units or at least 5% of the total constructed housing units will be rental units with an area of 40㎡ or less | |||||||||
| Applying Floor Area Ratio Relaxation Standards | ⦁Applying the basic floor area ratio evaluation criteria and floor area ratio relaxation criteria in the "2030 Busan Metropolitan City Urban and Residential Environment Maintenance Basic Plan"⦁Standard floor area ratio calculation: 240% (in residential maintenance area)⦁Calculating floor area ratio relaxation (incentives) ① Public Interest Factors Incentive: Providing Public Facility Site 1) Changing from 2nd General Residential Zone to 3rd General Residential Zone※ Area provided for public facilities: 16,429㎡, area after public facilities provision: 64,721㎡ - Incentive: [1.5×(16,429㎡÷64,721㎡)]×200% = 76.15% (maximum 20% applied) ② Local Conditions Incentive: Vitalizing Local Economy - Incentive: Designer 5% ③ Additional Incentive: Sustainable (Remodeling) Apartments - Incentive: 5% ④ Additional Incentive: Green Building Certification and Energy Efficiency Rating - Incentive: 6% [Green Building (Excellent) 3%, Energy Efficiency Rating (1+) 3%]⦁Calculating Allowable Floor Area Ratio - 240% + 20% + 5% + 5% + 6% = 276%⦁Planned floor area ratio: below 275% (the overall floor area ratio of apartment land (1-1, 1-2, 1-3) is below 275%) | |||||||||
Category
Announcement
Agency Division
City
Busan Metropolitan City
Announcement Number
No. 2025-90
Title
Announcement of the Maintenance Plan Decision and Maintenance Area Designation for the Mangmi 5 Redevelopment Project
Date
March 12, 2025
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