Table of Contents
Resident briefing and public display of the decision and designation draft for the Yongho A Redevelopment Project
- Area of Yongho-dong 363-1
The 'Yongho A Redevelopment Project' in Yongho-dong, Nam-gu, Busan, has officially begun the maintenance plan and designation procedures.
Nam-gu, Busan plans to announce the Yongho A redevelopment maintenance area plan on April 23, 2025, and a briefing for residents will be held on May 9.
According to a recently announced notice, the area of the designated redevelopment area is approximately 44,992.1㎡ in the vicinity of Yongho-dong 363-1. This area is located close to the natural environment of Igidae Coast and adjacent to the planned site of the Busan Oryukdo Line tram's 'Igidae Station', which is expected to significantly improve transportation convenience in the future.
In particular, this area has a site from which the beautiful scenery of the Igidae sea can be enjoyed from certain directions, raising expectations for the development of an upscale residential complex. However, one concern is that the Oryukdo Line tram project has gained a higher likelihood of being halted due to a low economic evaluation in a recent preliminary feasibility review. It is necessary to pay attention to how such variables may influence future projects.
This decision on the maintenance plan is an important advancement made about a year and a half after passing the preliminary feasibility review in October 2023. The designation of the maintenance area is expected to be confirmed in the second half of 2025. The notice includes an area that includes Hwaseong Golden Mansion, but the specific maintenance area will be finalized in the future maintenance area designation announcement.
The estimated proportional rate is 100.66%, ensuring stability in the calculation of burdens and the profitability of the members. If Hwaseong Golden Mansion is excluded, the area will be reduced to approximately 37,903㎡, with about 350 members and a total of about 940 households expected. Such changes are expected to have a significant impact on future maintenance projects.
According to the maintenance plan proposal, approximately 76.2% of the total area is planned to be used for multi-family housing. The remaining part will be developed into various maintenance infrastructure such as roads, parks, and green spaces.
The main uses are designated as multi-family housing and community welfare facilities, and the building coverage ratio is planned not to exceed 30%. The floor area ratio is limited to below an average of 273% and the maximum building height is set at 29 floors.
Additionally, incentives for floor area ratios based on public contribution and eco-friendly design are included, and rental housing will be supplied at over 10% of the total number of households. These plans are expected to contribute to the improvement of the residential environment in the area.
The Yongho A Redevelopment Project being carried out in Yongho District 10 has the potential to secure a view of the sea beyond Igidae. The complex is located at the entrance of Yongho-dong, giving it excellent transportation accessibility, but it is somewhat distanced from Yongho Elementary School as it falls within the school's district. Additionally, nearby Yongho-dong Samwol Housing is also conducting a separate small-scale reconstruction project.
The construction company has not yet been decided. The processes for establishing the union and selecting the construction company are expected to begin in earnest after the designation of the maintenance area. If the project proceeds smoothly, a construction company could be selected and the project implementation approval process could progress as early as 2026.
Public notice No. 2025-569 by Nam-gu, Busan
Resident briefing and public display of the decision and designation draft for the Yongho A Redevelopment Project
With regards to the decision and designation draft of the Yongho A Redevelopment Project in the area of Yongho-dong 363-1, Nam-gu, Busan, a resident briefing and public display is being held according to Article 15 of the 「Urban and Residential Environment Maintenance Act」 and the enforcement ordinance Article 13. If you have any opinions regarding the decision of the maintenance plan and the designation draft, please submit your statement to the public display venue within the public display period.
Date: April 23, 2025
Mayor of Nam-gu, Busan
1. Overview of the resident briefing
a. Date: May 9, 2025 (Friday) at 2:00 PM
b. Location: Oryukdo Life Support Center, 3rd floor, 56do auditorium (18, Igidae Park Road, Nam-gu, Building 101)
c. Participants: Landowners and residents
d. Content: Explanation of the maintenance plan and designation draft
2. Overview of the public display
a. Public display period: April 23, 2025, to May 23, 2025 (31 days)
b. Public display venue: Nam-gu Office Building Department (☎ 051-607-4611)
c. Contents of the public display
1) Designation report for the maintenance district
| Designation Type | Project Classification | District Name | Location | Area (㎡) |
| New | Redevelopment Project | Yongho A Redevelopment Maintenance District | Area of Yongho-dong 363-1 | 44,992.1 |
2) Estimated contribution amounts and calculation basis for each landowner
- Estimated total revenue: 573,672,198,913 won
- Estimated total project cost: 430,300,934,325 won
- Estimated value of the existing assets: 142,435,611,347 won
- Estimated proportional rate: 100.66%
※ Estimated total value of existing assets = Sum of estimated values of existing assets by landowners
※ Estimated proportional rate = (Estimated total revenue - Estimated total project cost) / Estimated total value of existing assets
※ Contribution for each landowner = Member sale price - Right value
※ The above estimates may be modified during the process of project implementation approval and management disposal plans
3) Land use planning
| Classification | Area (㎡) | Current | Change | After Change | Composition Ratio (%) |
| Total | 44,992.1 | - | - | 44,992.1 | 100.0 |
| Residential Area | 2nd General Residential Area | 44,531.7 | Decrease) 44,531.7 | | - |
| Residential Area | 3rd General Residential Area | - | Increase) 44,531.7 | 44,531.7 | 99.0 |
| Natural Green Area | 460.4 | - | - | 460.4 | 1.0 |
4) Land use planning
| Classification | Name | Area (㎡) | Ratio (%) | Remarks |
| Urban Management Plan Area | Total | 44,992.1 | 100.0 | |
| 3rd General Residential Area | 44,531.7 | 99.0 | | |
| Natural Green Area | 460.4 | 1.0 | | |
| Housing and Maintenance Infrastructure | Total | 44,992.1 | 100.0 | |
| Housing | Multi-family Housing Lot | 34,263.1 | 76.2 | Including community welfare facilities |
| Maintenance Infrastructure | Roads | 8,250.5 | 18.3 | |
| Parks | 2,018.1 | 4.5 | Small parks (2 locations) | |
| Other Facilities | Green Space | 460.4 | 1.0 | Other green spaces (retained) |
5) Plan for the main use of buildings, building coverage ratio, floor area ratio, and height
| District Classification | Name | Area (㎡) | Location | Main Use | Building Coverage Ratio | Floor Area Ratio | Height |
| New | Yongho A Redevelopment Maintenance District | 44,992.1 | | | | | |
| 1-1 | 27,005.5 | Yongho-dong 363-1, Nam-gu | Multi-family housing and community welfare facilities | Not exceeding 30% | Not exceeding 303% | Not exceeding 29 floors | Average floor area ratio not exceeding 273% |
| 2-1 | 7,257.6 | Nam-gu Yongho-dong 69 | Multi-family housing and community welfare facilities | Not exceeding 30% | Not exceeding 163% | Not exceeding 25 floors | |
| 2-2 | 460.4 | Nam-gu Yongho-dong San20-1 | Green Space | - | - | - | |
| 3-1 | 1,292.1 | Nam-gu Yongho-dong 65-5 | Small Park A | - | - | - | |
| 4-1 | 726.0 | Nam-gu Yongho-dong 87-31 | Small Park B | - | - | - | |
| Road | 8,250.5 | | | | | | |
Housing scale and construction ratio
- At least 40% of the total units being constructed will be built under 85㎡
Regarding the construction of rental housing
- More than 10% of the total units being constructed will be provided as rental housing
- If the number of rental housing units is 30 or more or more than 5% of the total constructed housing units → rental housing units will be constructed under 40㎡
Application of criteria for floor area ratio relaxation
- Apply evaluation criteria and floor area ratio limits according to the '2030 Basic urban and residential environment maintenance plan (Revised)'
- Standard floor area ratio: 240% (residential maintenance district redevelopment)
- Floor area ratio relaxation
▷ Public interest element incentive: 20.0% applied
▷ Public facilities provided this time: 3,801.0㎡
→ 1.5×(3,801.0÷34,263.1)×200% = 33.3%
▷ Local economic revitalization incentive: 5% applied
▷ Sustainable multi-family housing: 5% applied
▷ Green building certification energy: 3% applied
→ Permissible floor area ratio: 273% or less (240% + 20% + 5% + 5% + 3%)
Planned floor area ratio: 273% or less
6) Other matters: Refer to public display documents
3. Method of submitting opinions: Submit a written opinion form [attached] to the Nam-gu Office Building Department within the public display period
4. Public display documents: Omitted from publication (available at the display location)
5. For more information, please refer to the materials available at the display location, which may be subject to changes based on the administrative procedures, such as future urban and landscape review committee deliberations.
Classification
Notice
Institution Classification
District
Institution
Nam-gu
Announcement Number
No. 2025-569
Title
Resident briefing and public display of the decision and designation draft for the Yongho A Redevelopment Project
Date
April 23, 2025
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