Table of Contents
Approval Announcement for the New Construction of Hope Together Apartment in Beomcheon-dong, Change to Housing Construction Business Plan (2nd)
- Beomcheon-dong, Busanjin-gu, land lot 858-6 and 7 other plots
The Hope Together Apartment located at 858-6 Beomcheon-dong, Busan received the second amendment approval of the housing construction business plan on May 7. Following this approval, the total floor area of the apartment has been adjusted to 115,646㎡, and it will consist of 2 buildings with 6 underground floors and 49 above-ground floors, totaling 614 units.
The project is led by the Korea Land Trust, with the approved period from January 31, 2026 to April 30, 2029. The housing construction business plan was previously approved in 2023, but the schedule has been delayed due to various circumstances.
The 'Hope Together Apartment', which is a youth housing support model of Busan City, is being promoted through the 'Hope Together' project. The main goal of this project is to provide housing to youth at around 80% of the surrounding market prices in exchange for relaxation of floor area ratio and height regulations.
Busan City plans to start the first move-in from April 2023, supplying a total of 4,241 units from 14 project sites. Among these, the Beomcheon-dong project is receiving significant attention for its large scale. It is expected to be a great help in stabilizing housing for the youth.
The site area is 6,481㎡, with a floor area ratio of 1,291% and a building coverage ratio of 63%. As a result, the tallest residential landmark in the Seomyeon area is expected to emerge. There will be 775 parking spaces provided to meet legal standards, along with neighborhood living facilities and business facilities, creating an environment where residents can enjoy living, working, and convenience facilities all in one place.
The construction company has not yet been decided, but the industry expects a high possibility of participation from a large construction company with rich experience in high-rise buildings of 49 floors or more. The selection of the construction company is expected to be completed in 2025, with construction starting in early 2026, and completion and move-in expected in the first half of 2029. These plans are expected to have a positive impact on the development of the Seomyeon area.
The location is situated between Beomeggol Station on Line 1 and the International Finance Center Station on Line 2, allowing for a swift 10-minute commute to the Seomyeon and Munhyeon financial complex and the North Port redevelopment area. Surrounding the apartment are 10-year-old apartment complexes such as Beomcheon Gyeongnam and Seomyeon e-Comfort, where the actual transaction prices for the exclusive 84㎡ units range from 385 million won to 430 million won. Additionally, the newly constructed high-rise brand apartment, Hope Together, is expected to have relatively lower rents, garnering great interest among youth and newlyweds.
Busan Metropolitan City, Busanjin-gu Announcement No. 2025-76
Approval Announcement for Change to Housing Construction Business Plan (2nd)
With reference to the housing construction business plan approval for the area of land lot 858-6 in Beomcheon-dong, announced as Busanjin-gu Announcement No. 2022-88 (June 22, 2022), the approval for change to the housing construction business plan (2nd) is hereby announced in accordance with Article 15, Clause 6 of the Housing Act.
May 7, 2025
Mayor of Busanjin-gu, Busan Metropolitan City
1. Name of the project: New construction of Hope Together Apartment in Beomcheon-dong
2. Name and address of the business entity
a. Name: Korea Land Trust Co., Ltd., Representative Park Jong-cheol
b. Address: 517, Yeongdong-daero, Gangnam-gu, Seoul, 26th floor, 33rd floor (Samseong-dong, Asem Tower)
3. Location, area of the project area, and scale of the housing
a. Location: 858-6 Beomcheon-dong, Busanjin-gu, Busan, and 7 other plots
b. Land area: 6,481.1㎡
c. Building area: 4,139.8774㎡
d. Total floor area: 115,727.037㎡
e. Building summary: 6 underground floors / 49 above-ground floors, 2 buildings, multi-family housing (614 units) and auxiliary welfare facilities, business facilities, neighborhood living facilities
4. Implementation period: January 31, 2026 to April 30, 2029.
5. Main changes: total floor area, building height, changes in unit configurations and layout of auxiliary welfare facilities, changes in implementation period, etc.
6. Matters deemed to be announced under Article 19, Clause 1 of the Housing Act
a. Changes to permits and required notifications under Article 16 of the Building Act
Category
Announcement
Local Government Division
District
Agency
Busanjin-gu
Announcement Number
2025-76
Title
Approval Announcement for Change to Housing Construction Business Plan (2nd)
Date
2025-05-07
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