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Approval Announcement for Housing Construction Project Plan (Change) / Area around 687-14 Seo-Daesin-dong 3-ga, Hyunsan Development, Daesin-dong Apartment New Sale
The multi-family housing construction project in the area of 687-14 Seo-Daesin-dong, Seo-gu, Busan, has announced new developments. As of April 16, 2025, the change to the housing construction project plan has been approved, extending the project duration. The project is now scheduled to take place from December 1, 2025, to June 30, 2028. This represents an extension of approximately 3 years and 3 months from the originally planned end date of March 1, 2025.
This project received approval for its construction plan during the 3rd Seo-gu Joint (Architecture·Landscaping) Committee meeting in 2021 and is located in a highly convenient transportation area, being an 8-minute walk from Seo-Daesin Station. Additionally, it is adjacent to the second phase of Daesinhaemoro Central (Seo-Daesin Area 4). The specific location is at the rear of Hyopseong Renaissance Apartment and the southern vacant lot of Daesin Lotte Castle. Construction has yet to commence as of now.
The delay in this project raises concerns about future motivation for progress, and its ongoing developments are under scrutiny. Such changes are expected to impact the local real estate market as well.
A total of 164 households will be constructed across 6 buildings, ranging from basement 3 floors to 18 stories, on an area of 9,433㎡. Additionally, 22 officetels and various auxiliary welfare facilities are included in the plan. Given that it is a small complex surrounded by a large-scale branded complex, the pricing strategy is expected to significantly influence the actual decisions of buyers.
In terms of the educational environment, the project is situated in a very advantageous location. Nearby, there are Daesin Elementary School, Daesin Middle School, Pukyong National University High School, and several schools including Gudeok Elementary, Busan Girls’ Middle School, Gyeongnam High School, and Dong-A University, which provide attractive conditions for those who prioritize educational districts.
Transportation infrastructure also serves as a significant advantage. Located close to Seo-Daesin Station on Subway Line 1, the connections to major arterial roads such as Daedeok Tunnel, Gudeok Tunnel, and Busan Tunnel facilitate easy movement throughout Busan. This transportation network efficiently connects the urban center with the outskirts, offering high satisfaction to both commuters and private vehicle users.
This area is currently a key focal point for the redevelopment of the old downtown and is experiencing rapid changes. Districts 5 (Daesinhaemoro Central) and 6 (Daesin Prugio) are already completed, and once the second phase of the project is sold, it is expected to form a residential complex with a total of 2,000 households.
Furthermore, if the new construction project in Seo-Daesin-dong 3-ga is included in this residential belt, the advantages of living convenience and location are expected to become more prominent. These changes are likely to have a positive impact on local residents.
Currently, there is a lack of certainty regarding the selection of the construction company and the schedule for commencement. Due to the characteristics of being a small complex, concerns have been raised that its competitiveness in the sales market may be somewhat limited. Although actual construction is scheduled for December 2025, the exact start date may vary depending on the permitting process and market conditions.
Amidst active redevelopment in the area, the success of the Seo-Daesin-dong 3-ga multi-family housing project is expected to hinge on the differentiation strategies of small complexes and reasonable pricing strategies. These factors will determine its future competitiveness in the sales market.
Busan Metropolitan City Seo-gu Announcement No. 2025-21
Approval announcement for the housing construction project plan (change)
Regarding the housing construction project in Seo-Daesin-dong 3-ga, 687-14, Seo-gu, Busan, according to Article 15 of the Housing Act, the housing construction project plan (change) is approved, and pursuant to Article 15, Paragraph 6 of the same law, it is announced as follows.
April 16, 2025
Mayor of Seo-gu, Busan
1. Project Name: Seo-Daesin-dong 3-ga Multi-family Housing Construction
2. Name and Address of the Project Owner (Change)
(Original)
a. Name: Hyunsan Development Co., Ltd. Representative: Kim Joong-woong
b. Address: Room 2204, 90 Centum Jungang-ro, Haeundae-gu, Busan (Jaesong-dong)
(Changed)
a. Name: Hyunsan Development Co., Ltd. Representative: Kim Jong-cheol
b. Address: Room 3101, 17 APEC Road, Haeundae-gu, Busan
3. Location, Area, and Size of the Housing Construction Site
a. Location: 687-14 Seo-Daesin-dong 3-ga and 34 other lots, Seo-gu, Busan
b. Site Area: 9,433㎡
c. Size of the housing construction
1) Number of Floors: Basement 3 floors, above ground 16-18 floors / 6 buildings (Main 3, Auxiliary 3)
2) Building Area: 4,824.9934㎡
3) Total Floor Area: 25,408.0659㎡
4) Use: Multi-family housing (164 households), business facilities (22 officetels), auxiliary welfare facilities
4. Project Duration (Change)
(Original) September 1, 2022 ~ March 1, 2025
(Change) December 1, 2025 ~ June 30, 2028
5. Major Changes: Change in Project Representative, Location, and Project Duration
6. Matters subject to approval or permission under other laws: No changes
7. For further inquiries: Seo-gu Architectural Department, Busan Metropolitan City (☎ 051-240-4632)
Classification
Announcement
Agency Classification
Gu/Gun
Agency
Seo-gu
Announcement Number
No. 2025-21
Title
Approval Announcement for Housing Construction Project Plan (Change)
Date
April 16, 2025
The Seo-Daesin-dong 3-ga area is currently undergoing active development of new apartments and multi-family housing. This area is part of Seo-gu's redevelopment project, with notable advancements around Seo-Daesin Station. Particularly, new apartment complexes like Daesinhaemoro Central and Daesin Lotte Castle are receiving attention.
Nearby educational institutions include Daesin Elementary School, Daesin Girls' Middle School, and Pukyong National University High School, providing an excellent educational environment. Additionally, the proximity to Dong-A University makes it an attractive residential area for students.
As the supply of new apartments increases in Seo-gu and small complexes become more common, the new apartments around Seo-Daesin Station are also gaining popularity. The redevelopment status in Busan shows various projects in Seo-Daesin Area 4 to Area 6, indicating expectations of further developments in the Busan housing town.
