Table of Contents
Notification of the Decision on the Redevelopment Project Plan and Designation of the Redevelopment District for Yeonsan 11 District
- Area of 651-10, Yeonsan-dong, Yeonje-gu
On June 11, 2025, the city of Busan officially designated the 'Yeonsan 11 Redevelopment District.' This district is located in Yeonsan-dong, Yeonje-gu at 651-10, with an area of 56,573㎡.
The decision on the redevelopment project plan and designation of the redevelopment district was announced in December 2024, and this is the action taken approximately six months later.
The land will transition from a second-class general residential area to a third-class general residential area and quasi-residential area. As a result, the planned floor area ratio will be set at 265%, and plans are in place for apartment buildings up to 32 stories above ground along with various ancillary facilities.
Additionally, the newly established road No. 1-488 and 489 is designed to be 21-22m wide, including a children's park (area of 3,376㎡) and a public pedestrian path (6m wide and 134m long). These facilities are expected to facilitate smooth traffic flow and significantly enhance the convenience of life for residents.
According to the redevelopment plan, the site for the apartments is set at 38,263㎡. If dedicated areas of 59·74·84㎡ are supplied, considering the increased floor area ratio, the number of households is expected to increase from the existing 1,115 units to approximately 1,200 units. The approval for the implementation of this project is expected to occur within four years from the announcement date.
Although the construction company has not yet been determined, a similar project across the nearby Yeonsan 10 District completed 1,166 units, with five large construction firms participating and HDC Hyundai Industrial Development being selected. This indicates that competition among major brand companies is expected to be intense.
Yeonsan Station and Mulmangol Station in Busan are conveniently located within a 10-15 minute walking distance, providing excellent transportation options. The area boasts close proximity to living infrastructure such as Oncheoncheon, City Hall, and the Hwangnyeongsan Tunnel, resulting in excellent living conditions. In terms of education, nearby schools include Yeondong Elementary, Yeonsan Middle School, Yeonje Middle School, and Yeonsan High School, making it suitable for family residences.
The actual transaction price for a representative apartment complex in Busan, 'Yeonsan Jai,' recently marked approximately 590 million won for 84㎡, with listings for 32-pyeong units ranging from 540 million won to 700 million won. This price range is a contributing factor to the stability of the housing market in this area.
In early June, the notification for the redevelopment district of Yeonsan 12 District was completed, drawing attention to the Mulmangol area in Yeonsan-dong.
There is a high likelihood that large-scale apartment complexes will be developed, accommodating a minimum of 5,000 units, extending from Yeonsan 11 and 12 Districts to 13, 14, and 15 Districts.
This is expected to lead the area to grow into a mini new city.
After the project's completion, significant improvements in the safety of aging residential areas and alleviation of traffic congestion are anticipated. Thanks to the collective effect of large brand complexes, residential preferences are expected to increase, leading to a rise in property values in the medium to long term.
Furthermore, a 5% additional floor area ratio incentive will be provided to encourage local construction companies and designers' participation, along with a 5% design incentive to facilitate remodeling. These aspects are expected to contribute to economic revitalization in the region and improvements in energy efficiency.
Notification No. 2025-221 of Busan Metropolitan City
Notification of the Decision on the Redevelopment Project Plan and Designation of the Redevelopment District for Yeonsan 11 District
1. The redevelopment district for Yeonsan 11 project in the area of 651-10, Yeonsan-dong, Yeonje-gu, Busan is hereby officially announced as the decision plan and designation under Article 16 of the "Urban and Residential Environment Maintenance Act," and the topographical map is announced according to Article 8 of the "Basic Act on Land Use Regulations" and Article 7 of the implementing regulations thereof.
2. Related documents (land connection available at “http://www.eum.go.kr”) are available for public viewing at the Urban Maintenance Department of Busan Metropolitan City (☏ 051-888-4231) and the Building Department of Yeonje-gu (☏ 051-665-5052).
June 11, 2025
Mayor of Busan Metropolitan City
Ⅰ. Designation of the Redevelopment District and Decision on the Redevelopment Project Plan
1. Redevelopment Project District Designation Document
| Designation Type | Type of Project | Area Name | Location | Area(㎡) | Remarks |
| New | Redevelopment Project | Yeonsan 11 Redevelopment Project District | Area of 651-10, Yeonsan-dong, Yeonje-gu | 56,573 |
2. Redevelopment Project Plan
○ Plan pertaining to land use
| Category | Name | Area(㎡) | Ratio (%) | Remarks | |
| Urban Management Planning Use Area | Total | 56,573 | 100.0 | ||
| Third-Class General Residential Area | 52,161 | 92.2 | 2nd to 3rd | ||
| Quasi-Residential Area | 4,412 | 7.8 | |||
| Urban Management Planning Use District | - | - | - | ||
| Residential and Maintenance Infrastructure (Urban Planning Facilities) | Total | 56,573 | 100.0 | ||
| Residential Land | 39,531 | 69.9 | |||
| Apartments | 38,263 | 67.6 | |||
| Religious Facility | 653 | 1.2 | |||
| Facility for Seniors and Disabled | 615 | 1.1 | |||
| Maintenance Infrastructure (Urban Planning Facilities) | 17,042 | 30.1 | |||
| Road | 13,425 | 23.7 | |||
| Park | 3,376 | 6.0 | |||
| Parking Lot | 241 | 0.4 | |||
○ Plan for Changing Land Use Districts
| Classification | Area(㎡) | Ratio (%) | Remarks | ||
| Current | Change | After Change | |||
| Total | 56,573 | - | 56,573 | 100.0 | |
| Second-Class General Residential Area | 52,161 | Decrease) 52,161 | - | - | |
| Third-Class General Residential Area | - | Increase) 52,161 | 52,161 | 92.2 | |
| Quasi-Residential Area | 4,412 | - | 4,412 | 7.8 | |
■ Statement of Reasons for Changing Land Use Districts
| Map Display Number | Location | Land Use District | Area(㎡) | Floor Area Ratio (%) | Reason for Change | |
| Current | Change | |||||
| - | Area of 651-10, Yeonsan-dong, Yeonje-gu | Second-Class General Residential Area | Third-Class General Residential Area | 52,161 | Below 300% | The target area is dense with old and poor-quality buildings and requires improvement of residential conditions and maintenance infrastructure, thus aiming to change the second-class general residential area to a third-class general residential area for efficient land use purposes. |
○ Estimated sharing amount and calculation basis per landowner
| Estimated Sharing Amount | Estimated Total Income | Estimated Total Project Cost | Estimated Total of Current Assets | Estimated Ratio |
| 603,164,764,000 won | 439,827,436,000 won | 163,337,328,000 won | 100.00% | |
| Calculation Basis | ⦁Estimated Total of Current Assets = Sum of estimated current assets by landowners. ⦁Estimated Ratio = (Estimated Total Income - Estimated Total Project Cost)/Estimated Total of Current Assets. ⦁Estimated Sharing Amount by Landowners = Members’ selling price - Rights price. | |||
※ The above estimated total assets and individual sharing amounts may change according to future management disposal plans, etc. (Estimated sharing amounts and calculation basis per landowner: omitted)
○ Plans regarding the main use, building coverage ratio, floor area ratio, and height of buildings
| Classification | District Classification | Household or Plot Classification | Location | Main Use | Building Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) | Remarks | ||||||||||||||||||
| Name | Area(㎡) | Name | Area(㎡) | |||||||||||||||||||||||
| New | Yeonsan 11 Redevelopment Project District | 56,573 | 1-1 | 38,263 | Area of 1184-2, Yeonsan-dong, Yeonje-gu | Apartment and ancillary facilities | Below 50% | Below 265% | Below 113m | |||||||||||||||||
| 1-2 | 653 | Area of 1225, Yeonsan-dong, Yeonje-gu | Religious Facilities | Below 50% | Below 360% | Below 30m | ||||||||||||||||||||
| 1-3 | 615 | Area of 1215-1, Yeonsan-dong, Yeonje-gu | Facility for Seniors and Disabled | Below 50% | Below 240% | Below 30m | ||||||||||||||||||||
| Scale and Construction Ratio of Housing | ·At least 40% of the total number of housing units to be built should be below 85㎡ | |||||||||||||||||||||||||
| Matters Related to the Construction of Rental Housing | ·At least 10% of the total number of housing units to be built should be for rental housing. ·More than 30% of the total rental housing units, or more than 5% of the total number of housing units to be built should be rental housing below 40㎡ | |||||||||||||||||||||||||
| Application of Floor Area Ratio Relaxation Standards | ·Application of standard floor area ratio evaluation criteria and floor area ratio relaxation criteria according to the "2030 Busan Metropolitan City Urban and Residential Environment Maintenance Basic Plan". ·Standard floor area ratio: 240% (residential maintenance district), 360% (including semi-residential areas). | |||||||||||||||||||||||||
| Classification | Evaluation Standards Score | ⇨ | Evaluation Standards Points | Land Use | Standard Floor Area Ratio | |||||||||||||||||||||
| Yeonsan 11 District | 76 points | 50-80 points | Residential Maintenance | 240% | ||||||||||||||||||||||
| ·Average floor area ratio: Below 249% (with mixed land use, applying a standard floor area ratio of 360% for quasi-residential areas). [(52,161㎡×240%) + (4,412㎡×360%)] ÷ 56,573㎡ ≒ 249.3% ·Application of floor area ratio relaxations: ‣ Sustainable type apartments (easy-to-remodel apartments) incentive: 5% ‣ Regional economic activation (participation of local construction and design firms) incentive: 5% ‣ Green building and energy efficiency certification incentive: 6% ·Permissible floor area ratio: 249% + 5% + 5% + 6% = 265% ·Planned floor area ratio: Below 265% | ||||||||||||||||||||||||||
Classification
Notification
Organization Type
City
Agency
Busan Metropolitan City
Notification No.
2025-221
Title
Notification of the Decision on the Redevelopment Project Plan and Designation of the Redevelopment District for Yeonsan 11
Date
2025-06-11
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Frequently Asked Questions (FAQ)
Q. When was the Yeonsan11 District Redevelopment Project declared?
The city of Busan officially designated the Yeonsan 11 Redevelopment District on June 11, 2025.
The city of Busan officially designated the Yeonsan 11 redevelopment district in the area of 651-10, Yeonsan-dong, Yeonje-gu on June 11, 2025. This decision was made approximately six months after the publication of the redevelopment project plan and designation notice in December 2024. This allows for the full-scale promotion of the redevelopment project to take place.
Q. How will the land use area and floor area ratio change in the Yeonsan 11 Redevelopment Project?
It will be changed from the Second-Class General Residential Area to the Third-Class General Residential and Quasi-Residential Areas, with the floor area ratio set at 265%.
The Yeonsan 11 District will undergo a change from the current Second-Class General Residential Area to a Third-Class General Residential Area and a Quasi-Residential Area. Accordingly, the planned floor area ratio is set at 265%, which will allow for the construction of apartment complexes up to 32 stories above ground and ancillary facilities. This change enables the creation of a denser residential environment.
Q. How many households are expected in the Yeonsan 11 Redevelopment Project?
The number of households is expected to increase to about 1,200 from the existing 1,115.
According to the redevelopment plan, the site will be developed into 38,263㎡ for apartments. With dedicated areas of 59·74·84㎡ anticipated to be supplied, and considering the increase in floor area ratio, it is likely that the number of households will increase to approximately 1,200, which will expand residential supply and increase the local population.
Q. What are the transportation and living infrastructure like around the Yeonsan 11 District?
Yeonsan Station and Mulmangol Station are conveniently located within a 10~15 minute walking distance, with good living infrastructure and nearby schools.
The Yeonsan 11 District is recognized as one of Busan's representative transit-oriented developments, with Yeonsan Station and Mulmangol Station situated within a 10-15 minute walking distance, providing a highly convenient transportation environment. Furthermore, nearby amenities such as Oncheoncheon, City Hall, and Hwangnyeongsan Tunnel enhance the living conditions. Educational facilities such as Yeondong Elementary School, Yeonsan Middle School, Yeonje Middle School, and Yeonsan High School are also in close proximity, providing a suitable environment for family living.
Q. What expected benefits will result from the completion of the Yeonsan 11 Redevelopment Project?
Improved safety in aging residential areas, alleviation of traffic congestion, increased residential preferences, and rising property values are anticipated.
Following the completion of the project, it is anticipated that the safety of aging housing conditions will be significantly improved and traffic congestion will be alleviated with roads and public pedestrian pathways designed at widths of 21-22 meters. Additionally, as large brand complexes emerge, a rise in residential preferences is expected, leading to positive outcomes such as an increase in local property values in the medium to long term. Moreover, incentives will be provided to promote local economic revitalization and enhancements in energy efficiency.
