Notice on Public Display and Residents' Information Meeting for the Decision on Maintenance Plan and Designation of Maintenance Zone for Jaesong Green (Shiyoung 83) Apartment / Jaesong 5 Reconstruction Project
- Area of 1146-1 Jaesong-dong, Haeundae-gu
The reconstruction project of Jaesong 5 in the area of 1146-1 Jaesong-dong, Haeundae-gu, Busan has officially begun. This project targets the reconstruction of Jaesong Green (Shiyoung 83) Apartment, with the Haeundae District Office recently designating the area as a maintenance zone.
In addition, a public notice and residents' information session will be held to decide on the maintenance plan. In April 2023, the safety inspection results for the Jaesong 5 reconstruction were rated as Class D, leading to the decision to proceed with the reconstruction. This has increased the anticipation among local residents.
The residents' information meeting will be held on March 17, 2025, at 3 PM at the Centum Saemaul Geumgo Headquarters. The public display period related to this information meeting is set from March 5, 2025, to April 9, 2025, during which related documents can be reviewed at the 5th floor architectural department of the Haeundae District Office.
According to the designation report of the maintenance zone, this project is classified as a reconstruction project and is named 'Maintenance Zone for Jaesong 5 Reconstruction Project.' This maintenance zone is located in the area of 1146-1 Jaesong-dong, Haeundae-gu, Busan, covering an area of 31,948.0㎡.
Looking at the land use plan, the area has been designated as a Type 3 General Residential Area according to urban management plans. The total area is 31,948.0㎡, of which the land area accounts for 26,267.5㎡ (82.2%), and the maintenance infrastructure area consists of 5,680.5㎡ (17.8%). Within the maintenance infrastructure, a small park of 347.9㎡ (1.1%) and roads covering 5,332.6㎡ (16.7%) are planned.
Regarding the main use of the buildings, Zones A-1 and B-1 will be used for apartment housing and ancillary welfare facilities. The building coverage ratio is set to be below 50%, and the floor area ratio is planned to be below 240%. Additionally, the height of the buildings is limited to below 105m. Detailed maps of the zones will be published after the decision on the maintenance plan and designation of the maintenance zone is made.
Such plans are important criteria for local development and are expected to significantly impact the future real estate market.
Currently, the reconstruction and redevelopment market is facing challenging conditions, but the initiation of such projects is expected to have a positive impact on local development and improve the residential environment. In particular, the area of Jaesong-dong, Haeundae-gu is known for its convenient transportation and excellent living infrastructure, and it is anticipated that the residential environment will improve further through this reconstruction project.
Depending on the progress of the project, specific plans regarding the selection of construction companies and the number of households will be confirmed in the future. This is also expected to have a significant impact on the local real estate market. Residents and stakeholders are expected to actively express their opinions and participate during this public display and information session period, hoping for a successful reconstruction project.
Notice No. 2025-315 from Haeundae-gu, Busan
Notice regarding the Public Display and Residents' Information Meeting for the Decision on Maintenance Plan and Designation of Maintenance Zone for Jaesong 5 Reconstruction Project
Based on Article 15 of the Urban and Residential Environment Maintenance Act and Article 13 of the same law's enforcement decree, we wish to announce the following public display and information meeting regarding the decision on the maintenance plan and the designation of the maintenance zone for the "Jaesong 5 Reconstruction Project" located in the area of 1146-1 Jaesong-dong, Haeundae-gu, Busan. If you have any opinions regarding the decision on the maintenance plan and the designation, please submit them in writing to the architectural department of the Haeundae District Office during the public display period.
March 5, 2025
Mayor of Haeundae-gu, Busan
1. Overview of the Residents' Information Meeting
a. Date: March 17, 2025 (Monday) at 15:00
b. Location: 45-1, Haeun-daero 161beon-gil, Haeundae-gu, Busan (Centum Saemaul Geumgo Headquarters)
c. Participants: Landowners and stakeholders
d. Content: Explanation of the decision on maintenance plan and designation of maintenance zone
2. Overview of the Public Display
a. Period: March 5, 2025 (Wednesday) to April 9, 2025 (Wednesday) (36 days)
b. Location: 5th floor architectural department of Haeundae District Office, Busan (☎051-749-4614)
c. Content of the display
1) Designation Report of the Maintenance Zone
| Classification | Type of Project | Name of Maintenance Zone | Location | Area (㎡) |
| Newly Established | Reconstruction Project | Maintenance Zone for Jaesong 5 Reconstruction Project | Area of 1146-1 Jaesong-dong, Haeundae-gu, Busan | 31,948.0 |
2) Decision on the Maintenance Plan
a) Estimated Contribution Amount and Basis for Each Landowner (Unit: 1,000 KRW)
| Estimated Total Revenue | Estimated Total Project Cost | Estimated Value of Existing Assets | Estimated Ratio |
| 314,409,323,000 KRW | 229,064,551,000 KRW | 84,830,000,000 KRW | 100.61% |
- Estimated Value of Existing Assets = The sum of the estimated values of each landowner's existing assets
- Estimated Ratio = (Estimated Total Revenue ÷ Estimated Total Project Cost)/Estimated Value of Existing Assets
- Estimated Contribution Amount for Each Landowner = Member Sale Price - Management Value
※ The above estimated amounts may change due to alterations in the scale of sale during the project approval process, post-evaluations, finalization of the general sale price, and variations in maintenance project costs (common burden costs).
b) Plans Regarding Land Use Zones
| Classification | Area (㎡) | Ratio (%) |
| Total | 31,948.0 | 100.0 |
| Type 2 General Residential Area | Reduction) 31,948.0 | 0.0 |
| Type 3 General Residential Area | Increase) 31,948.0 | 100.0 |
c) Land Use Plan
| Classification | Name | Area (㎡) | Ratio (%) |
| Urban Management Plan Land Use Zone | Type 3 General Residential Area | 31,948.0 | 100.0 |
| Urban Management Plan Land Use District | - | - | - |
| Land and Maintenance Infrastructure | Development Land | 26,267.5 | 82.2 |
| | Apartment Land | 26,267.5 | 82.2 |
| | Maintenance Infrastructure | 5,680.5 | 17.8 |
| | Small Park | 347.9 | 1.1 |
| | Road | 5,332.6 | 16.7 |
d) Plans Related to Main Use of the Building, Building Coverage Ratio, Floor Area Ratio, and Height
| Zone Classification | Household or Lot Division | Location | Main Use | Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) |
| Newly Established | A-1 | Area of 1146-1 Jaesong-dong | Apartment and Ancillary Welfare Facilities | Below 50% | Below 240% | Below 105m |
| | B-1 | Area of 1155-3 Jaesong-dong | Apartment and Ancillary Welfare Facilities | Below 50% | Below 240% | Below 105m |
- Construction Ratios by Housing Size: Not Applicable
- Rental Housing Construction Ratios: Not Applicable
Application of Floor Area Ratio Relaxation Standards
- Standard Floor Area Ratio: 200%
- Relaxation of Floor Area Ratio: 40% (Max 40% applied)
- Provision of Public Facility Sites: 9.3%
- Securing Public Contributions: 4.2%
- Shiyoung Apartments: 16.6%
- Local Economic Revitalization Incentive: 17.0%
- 12% (Participation rate of local companies in sole or joint construction over 20%)
- 5% (Participation rate of local companies in design over 50%)
- Planned Floor Area Ratio: Below 240%
e) Other Matters: Refer to the public display documents
3. Public Display Documents: Omitted (Available at the display location)
4. Method of Submitting Opinions: Submit in writing to the 5th floor architectural department of Haeundae District Office during the public display period.
Classification
Announcement
Agency Classification
Local Government
Agency
Haeundae-gu
Announcement Number
No. 2025-315
Title
Notice Regarding the Public Display and Residents' Information Meeting for the Decision on Maintenance Plan and Designation of Maintenance Zone for Jaesong 5 Reconstruction Project
Date
March 5, 2025
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