Table of Contents
Residents' Meeting and Public Display Announcement for the Maintenance Plan Decision and Maintenance Zone Designation of Yangjeong District 4 Redevelopment Project
- Area of Yangjeongdong 366-40, Busanjin District
On May 28, Busanjin District announced the 'Decision on the Maintenance Plan and Designation of the Maintenance Zone for Yangjeong District 4 Redevelopment Project' and entered the residents' inspection process. This redevelopment area is located in Yangjeongdong 366-40, Busanjin District, covering an area of about 29,608.1㎡.
According to this plan, most of the 2nd general residential area will be changed to the 3rd general residential area, setting the floor area ratio to below 267%, with buildings constructed up to 83m (approximately 28 floors). Notably, there are 189 landowners, and the expected number of households is 605, indicating high business viability.
Additionally, more than 40% of the total households will be supplied with units of 85㎡ or less, including at least 10% as rental housing, considering both actual demand and vulnerable groups. This is expected to positively impact the housing stability of the local community.
The buildings within the maintenance zone are divided into 4 blocks, with the apartment block being central. The total number of households is 605, which is fewer than the 903 households recently sold in Yangjeong District 3, but given its flat terrain and excellent accessibility to transit, its competitiveness in sales is high.
The residents' meeting will be held on June 11, and the public display will run until June 27. After the meeting, the process for approving the establishment of the union will commence, and the construction company has not yet been decided.
There are 189 landowners, and with a relatively simple share structure, quick decision-making is expected. These factors are likely to have a positive impact on the future progress of the project.
The location conditions are outstanding. It is about an 8-minute walk from Yangjeong Station on Busan Subway Line 1, and the Central Daero BRT and Bujeon Station Transfer Center (planned) are also nearby. This area is well-equipped with infrastructure for living, education, and culture, being close to Busan Citizens Park, Yangjeong Elementary School, Yangjeong High School, and Dong-Eui University.
Furthermore, the simultaneous development of 5 nearby promotion zones along with Yangjeong Districts 1, 2, and 3 is expected to create a residential town with approximately 10,000 households, enhancing future value.
The outlook for real estate prices in the Busan area is bright. For instance, the 'Yangjeong Lotte Castle Frontier' located in Yangjeong District 3 registered sales prices of 660 million to 690 million won for units of 59㎡, and around 900 million won for units of 84㎡. Especially, the average sales price for new constructions in Busan this year has exceeded 220 million won per pyeong.
Yangjeong District 4 comprises medium-sized units, and thanks to its advantages of being in a transit area and flat land, it is expected to emerge as an attractive location for both residents and investors. These factors are likely to increase demand further.
The anticipated effects are clear. The double transit zones of Yangjeong and Bujeon stations, latent demand from Busan Citizens Park and the Yeonje Administrative Town, and the rarity of a medium-sized complex of 605 households are expected to significantly increase residential preference.
Busan Metropolitan City Busanjin District Announcement No. 2025-733
Decision on the Maintenance Plan and Designation of the Maintenance Zone for Yangjeong District 4 Redevelopment Project
Residents' Meeting and Public Display Announcement
On the area of Yangjeongdong 366-40, Busanjin District, a public display will be conducted, and a residents' meeting will be held on the decision on the maintenance plan and designation of the maintenance zone according to Article 15 of the "Urban and Residential Environment Maintenance Act" and Article 13 of its enforcement decree. If you have any opinions concerning the maintenance plan and designation of the maintenance zone, please submit your written opinions to the Building Division of Busanjin District Office during the inspection period.
May 28, 2025
Mayor of Busan Metropolitan City Busanjin District
Overview of the Residents' Meeting
a. Date: June 11, 2025 (Wednesday) 14:00
b. Location: Busanjin District Auditorium [30, Citizen Park Road, (Buam-dong)]
c. Attendees: Landowners and residents
d. Contents: Explanation of the maintenance plan decision and designation of the maintenance zone
Overview of the Public Display
a. Period: May 28, 2025 (Wednesday) ~ June 27, 2025 (Friday) (31 days)
b. Location: 8th Floor, Building Division, Busanjin District Office (☎051-605-8581)
c. Public Display Contents
Maintenance Zone Designation Document
| Category | Project Classification | Zone Name | Location | Area (㎡) |
| New | Redevelopment Project | Yangjeong District 4 Redevelopment Project Maintenance Zone | Area of Yangjeongdong 366-40, Busanjin District | 29,608.1 |
Decision on the Maintenance Plan
a) Estimated Amount of Contributions by Landowners and Calculation Basis
| Estimated Total Revenue | Estimated Total Project Cost | Estimated Total of Existing Assets | Estimated Proportional Rate |
| 313,037,335,675 | 242,316,823,310 | 68,132,890,000 | 103.8% |
Calculation Basis
Estimated Total of Existing Assets = Sum of Estimated Existing Assets by Landowners
Estimated Proportional Rate = (Estimated Total Revenue - Estimated Total Project Cost) / Estimated Total of Existing Assets
Estimated Amount of Contributions by Landowners = Member's Sale Price - Right Value
※ These estimates are subject to change due to changes in allocation scale during the approval processes of the business implementation plan and management disposition plan, reevaluation, confirmation of general sale price, changes in maintenance project costs (joint burden costs), etc.
b) Planning concerning Land Use Areas and Zones
| Category | Area (㎡) | Change | After Change | Composition Ratio (%) |
| Total | 29,608.1 | - | 29,608.1 | 100.0 |
| 2nd General Residential Area | 20,900.6 | Decrease) 20,900.6 | - | - |
| 3rd General Residential Area | 8,657.5 | Increase) 20,900.6 | 29,558.1 | 99.8 |
| General Commercial Area | 50.0 | - | 50.0 | 0.2 |
c) Land Use Plan
| Category | Name | Area (㎡) | Ratio (%) |
| Urban Management Plan Land Use Area | Total | 29,608.1 | 100.0 |
| | 3rd General Residential Area | 29,558.1 | 99.8 |
| | General Commercial Area | 50.0 | 0.2 |
| Urban Management Plan Land Use District | - | - | - |
| Residential and Maintenance Infrastructure (Urban Planning Facility) | Total | 29,608.1 | 100.0 |
| | Residential Land | 20,341.0 | 68.7 |
| | Apartment Land | 20,341.0 | 68.7 |
| | Maintenance Infrastructure (Urban Planning Facility) | 9,267.1 | 31.3 |
| | Senior Center | 159.3 | 0.5 |
| | Child Care Center | 312.0 | 1.0 |
| | Road | 8,795.8 | 29.7 |
d) Plans regarding Primary Use, Building Coverage Ratio, Floor Area Ratio, and Height of Buildings
Size of Housing and Construction Ratio
• More than 40% of total households will have units of 85㎡ or less
Concerning Rental Housing Construction
• At least 10% of total households will be built as rental housing
• If the number of rental housing units is more than 30% or more than 5% of the construction housing units
→ To be built as rental housing sized 40㎡ or less
Application of Floor Area Ratio Relaxation Standards
• Base Floor Area Ratio Calculation: 240% (Residential Maintenance Zone)
• Average Floor Area Ratio Calculation: 260%
• Public Interest Element Incentives
▸ Sustainable Apartment Incentive: 5%
▸ Local Economic Activation Incentive: 5% (installation exceeds 50%)
• Allowable Floor Area Ratio: 260% + 10% = 270%
• Planned Floor Area Ratio: below 267%
e) Other Matters: See Public Display Document
Public Display Document: Omitted from posting (available at the display location)
Method to Submit Opinions: Submit a written [attached] public display comment to the Building Division on the 8th floor of Busanjin District Office during the public display period
Classification
Announcement
Agency Classification
District
Agency
Busanjin District
Notice No.
No. 2025-733
Title
Residents' Meeting and Public Display Announcement for the Maintenance Plan Decision and Maintenance Zone Designation of Yangjeong District 4 Redevelopment Project
Date
May 28, 2025
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