Table of Contents
Decision on the Maintenance Plan and Designation of the Yongho 1 District Redevelopment Project
- Area of 50-18 Yongho-dong, Nam-gu
The 'Yongho 1 District' in the area of 50-18, Yongho-dong, Nam-gu, Busan, passed the decision on the maintenance plan and the announcement of the designation of the maintenance district (Busan City Announcement No. 2025-228) on the 18th. The area of this district is 158,382.2㎡, and it is planned to create 2,336 units of 35-story apartments along with neighborhood living facilities, public offices, and street parks.
A public briefing is scheduled for December 2024, and since the announcement was completed 7 months later, the project is progressing quickly. This speed is expected to positively impact the local residents.
The estimated proportional rate is 104.61%, with total revenue set at 1.4167 trillion won and total project cost set at 389.6 billion won. The construction company is currently undecided, and after the approval of the promotion committee and the establishment of the association, the selection process for the construction company will begin in the second half of this year.
It is characterized by very good educational conditions. The project site is close to Yongho Elementary School, making it noteworthy as an ‘excellent educational area,’ and Yongmoon Middle School is also within walking distance.
Additionally, the nearby LG Metro City area has a large number of academies, known as the 'Metro City Academy Area,' providing a wide range of educational choices. Daeyeon-dong and Namcheon-dong academy areas, located a 10-minute drive away, also allow for access to various educational infrastructures.
A comparable complex to the surrounding price is 'Desian Harrington Place Park City' located at 36 Yongju-ro, Nam-gu. The recent transaction price for an apartment with a dedicated area of 84.99㎡ is reported to be 580 million won (2025.6.2). KB's price report shows transaction prices ranging from 380 million won to 575 million won.
When Yongho 1 District is completed, the real estate prices of the area are expected to rise significantly. In particular, being located near the entrance to Yongho-dong and close to elementary schools, it is anticipated to hold a higher value than Yongho Desian.
As the project is activated, the aging residential area of Yongho-dong is expected to transform into a large-scale brand town. This transformation is projected to noticeably increase the living value of the area.
Confirmation of Redevelopment Areas in Yongho-dong
Announcement No. 2025-228 of Busan Metropolitan City
Announcement of the Decision on the Maintenance Plan and Designation of the Yongho 1 Redevelopment Project
1. Regarding the Yongho 1 Redevelopment Project maintenance district in the area of 50-18 Yongho-dong, Nam-gu, Busan Metropolitan City, the maintenance plan decision and maintenance district designation are announced in accordance with Article 16 of the Urban and Residential Environment Maintenance Act. The topographical map is also announced in accordance with Article 8 of the Basic Law on Land Use Regulation and Article 7 of its enforcement decree.
2. Relevant documents (land transfers can be viewed at "http://www.eum.go.kr") are kept at the Urban Maintenance Division of Busan Metropolitan City (☏051-888-4231) and the Building Division of Nam-gu (☏051-607-4616) for public inspection.
June 18, 2025
Mayor of Busan Metropolitan City
I. Designation of the Maintenance District and Decision on the Maintenance Plan
1. Designation Report for Redevelopment Project Maintenance District
| Designation Category | Project Category | District Name | Location | Area (㎡) | Remarks |
| New | Redevelopment Project | Yongho 1 Redevelopment Project Maintenance District | Area of 50-18, Yongho-dong, Nam-gu, Busan | 158,382.2 | - |
2. Redevelopment Project Maintenance Plan
○ Planning regarding Land Use
| Category | Name | Area (㎡) | Proportion (%) | Remarks | |||
| Urban Management Planning Area | Total | 158,382.2 | 100.0 | - | |||
| General Residential Area Type 3 | 153,483.9 | 96.9 | Type 2 → Type 3 | ||||
| Semi-residential Area | 2,544.9 | 1.6 | - | ||||
| General Commercial Area | 1,904.4 | 1.2 | - | ||||
| Natural Green Area | 449.0 | 0.3 | - | ||||
| Urban Management Planning Area | Fire Prevention Area | 1,904.4 | 1.2 | - | |||
| Land and Maintenance Infrastructure (Urban Planning Facilities) | Total | 158,382.2 | 100.0 | - | |||
| Land | 104,873.0 | 66.2 | - | ||||
| Land for Multiple Dwelling Units | 98,021.0 | 61.9 | - | ||||
| First Complex | 31,170.0 | 19.7 | - | ||||
| Second Complex | 30,062.0 | 19.0 | - | ||||
| Third Complex | 36,789.0 | 23.2 | - | ||||
| Land for Neighborhood Living Facilities | 6,852.0 | 4.3 | - | ||||
| Neighborhood Living Facility 1 | 3,677.0 | 2.3 | - | ||||
| Neighborhood Living Facility 2 | 2,817.0 | 1.8 | - | ||||
| Neighborhood Living Facility 3 | 358.0 | 0.2 | - | ||||
| Maintenance Infrastructure (Urban Planning Facilities) | 53,509.2 | 33.8 | - | ||||
| Public Office | 1,606.0 | 1.1 | - | ||||
| Public Office A | 705.0 | 0.5 | Police Center | ||||
| Public Office B | 901.0 | 0.6 | Administrative Welfare Center | ||||
| Park | 8,022.0 | 5.1 | Street park | ||||
| Public Space | 780.0 | 0.5 | - | ||||
| Parking Lot | 2,153.0 | 1.3 | - | ||||
| Parking Lot A (Water Reservoir) | 1,342.0 | 0.8 | Duplicate Decision | ||||
| Parking Lot B | 811.0 | 0.5 | - | ||||
| Road | 40,948.2 | 25.8 | - | ||||
○ Plan regarding the Change of Land Use Zones
| Category | Area (㎡) | Proportion (%) | Remarks | |||
| Existing | Change | After Change | ||||
| Total | 158,382.2 | - | 158,382.2 | 100.0 | - | |
| Land Use Zone | General Residential Area Type 2 | 147,472.4 | Decrease)147,472.4 | - | - | - |
| General Residential Area Type 3 | 6,011.5 | Increase)147,472.4 | 153,483.9 | 96.9 | - | |
| Semi-residential Area | 2,544.9 | - | 2,544.9 | 1.6 | ||
| General Commercial Area | 1,904.4 | - | 1,904.4 | 1.2 | Fire Prevention Area | |
| Natural Green Area | 449.0 | - | 449.0 | 0.3 | ||
■ Statement of Reasons for Changing Land Use Zones
| Map Display Number | Location | Land Use Zone | Area (㎡) | Floor Area Ratio | Reason for Decision (Change) | |
| Existing | Change | |||||
| - | Area of 50-18 Yongho-dong, Nam-gu | General Residential Area Type 2 | General Residential Area Type 3 | 147,472.4 | 300% or less | • The target area is densely populated with aging and poor-quality buildings, requiring improvement of living environment and maintenance of infrastructure, thus it is proposed to change from General Residential Area Type 2 to General Residential Area Type 3 for effective land use. |
○ Estimated Contributions for Landowners and Basis for Calculation
| Estimated Contribution Amount | Estimated Total Revenue | Estimated Total Project Cost | Estimated Aggregate Total Assets | Estimated Proportional Rate |
| 1,824,217,519,000 | 1,416,702,226,000 | 389,557,420,000 | 104.61% | |
| Basis for Calculation | ⦁Estimated Aggregate Total Assets = Sum of estimated assets per landowner⦁Estimated Proportional Rate = (Estimated Total Revenue - Estimated Total Project Cost) / Estimated Aggregate Total Assets × 100%⦁Estimated Contribution per landowner = Membership share price - Value of rights | |||
※ The above estimated total assets and individual contribution calculation amounts may change in accordance with future management disposal plans.
(Details regarding estimated contributions and basis for calculation are omitted)
○ Plan regarding the principal use, coverage ratio, floor area ratio, and height of buildings
| Category | District Category | Household or Lot Category | Location | Primary Use | Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) | |||||||||||||||||||||||||||||||||||||
| Name | Area (㎡) | Name | Area (㎡) | |||||||||||||||||||||||||||||||||||||||||
| New | Yongho 1 Redevelopment Project Maintenance District | 158,382.2 | 1-1 | 31,170.0 | Area of 50-4, Yongho-dong, Nam-gu | Multiple Housing and Ancillary Welfare Facilities | Below 50 | Below 273 | Below 108 | |||||||||||||||||||||||||||||||||||
| 1-2 | 3,677.0 | Area of 243-1, Yongho-dong, Nam-gu | Neighborhood Living Facilities and Possible Buildings within Natural Green Area for General Residential Area Type 3 | Below 50 | Below 240 | Below 20 | ||||||||||||||||||||||||||||||||||||||
| 1-3 | 358.0 | Area of 196-3, Yongho-dong, Nam-gu | Neighborhood Living Facilities and Possible Buildings within General Residential Area Type 3 | Below 50 | Below 240 | Below 20 | ||||||||||||||||||||||||||||||||||||||
| 1-5 | 705.0 | Area of 41-13, Yongho-dong, Nam-gu | Public Office (Police Center) | Below 50 | Below 240 | Below 20 | ||||||||||||||||||||||||||||||||||||||
| 1-6 | 901.0 | Area of 41-32, Yongho-dong, Nam-gu | Public Office (Administrative Welfare Center) | Below 50 | Below 240 | Below 20 | ||||||||||||||||||||||||||||||||||||||
| 2-1 | 30,062.0 | Area of 414-3, Yongho-dong, Nam-gu | Multiple Housing and Ancillary Welfare Facilities | Below 50 | Below 246 | Below 102 | ||||||||||||||||||||||||||||||||||||||
| 2-6 | 2,817.0 | Area of 417-13, Yongho-dong, Nam-gu | Neighborhood Living Facilities and Possible Buildings within General Residential Area Type 3 | Below 50 | Below 240 | Below 20 | ||||||||||||||||||||||||||||||||||||||
| 3-1 | 36,789.0 | Area of 407-5, Yongho-dong, Nam-gu | Multiple Housing and Ancillary Welfare Facilities | Below 50 | Below 288 | Below 108 | ||||||||||||||||||||||||||||||||||||||
| Construction Ratio and Proportion by Scale | ⦁At least 40% of the total number of units constructed must be 85㎡ or less. | |||||||||||||||||||||||||||||||||||||||||||
| Matters Regarding the Construction of Rental Housing | ⦁At least 10% of the total number of units constructed must be rental housing. ⦁Over 30% of the number of rental housing units or at least 5% of the total number of constructed housing units must be rental housing units sized 40㎡ or less. | |||||||||||||||||||||||||||||||||||||||||||
| Application of Floor Area Ratio Relaxation Standards | ⦁Application of the criteria for evaluating floor area ratio standards and relaxation standards according to the '2030 Busan Metropolitan City Urban and Residential Environment Maintenance Basic Plan' ⦁Basic floor area ratio calculation: 240% (Residential Improvement District) | |||||||||||||||||||||||||||||||||||||||||||
| Category | Evaluation Criteria Score | ⇨ | Evaluation Criteria Points | Land Use | Basic Floor Area Ratio | |||||||||||||||||||||||||||||||||||||||
| Yongho 1 District | 64 points | 50~80 points | Residential Improvement | 240% | ||||||||||||||||||||||||||||||||||||||||
| ⦁Calculation of Relaxed Floor Area Ratio (Incentive): ① Incentive for providing public facility land = 1.5 × (Public Facility Provision Area / Total Land Area After Provision) × 207.40% ※ [(147,472.4㎡×200%) + (6,011.5㎡×200%) + (2,544.9㎡×360%) + (1,904.4㎡×600%)] / 157,933.2㎡ = 207.40% - Public facility provision area: 9,494.3㎡, total land area after provision: 98,021.0㎡ = 1.5 × (9,494.3㎡ / 98,021.0㎡) × 207.40% = 30.12% (practically applied 20%) ② Incentive for sustainable multi-dwelling units (criteria for easily remodelable multi-dwelling units): 5% ③ Incentive for regional economic revitalization (participation of local construction and design companies): 5% ④ Green building and energy efficiency grades: 6% [Green Building (Excellent) 3%, Energy Efficiency Grade (1+) 3%] ⦁Relaxed floor area ratio calculation: 20% + 5% + 5% + 6% = 36.0% ⦁Permissible floor area ratio calculation: 240% + 20% + 5% + 5% + 6% = 276% ⦁Planned Floor Area Ratio: Below 270% (Average floor area ratio of multiple housing land (1-1, 2-1, 3-1) is below 270%) | ||||||||||||||||||||||||||||||||||||||||||||
Classification
Announcement
Institution Type
City
Busan Metropolitan City
Announcement No.
No. 2025-228
Title
Announcement of the Decision on the Maintenance Plan and Designation of the Yongho 1 Redevelopment Project
Date
June 18, 2025
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Frequently Asked Questions (FAQ)
Q. What are the main contents of the Yongho 1 District Redevelopment Project in Nam-gu, Busan?
Yongho 1 District is a redevelopment area with a size of 158,000㎡ that includes 2,336 units of 35-story apartments and public facilities.
The Yongho 1 District in the area of 50-18 Yongho-dong, Nam-gu, Busan has received the maintenance plan decision and maintenance district designation. The total area is 158,382.2㎡, and it is planned to construct 2,336 units of 35-story apartments along with neighborhood living facilities, public offices, and street parks. A public briefing is scheduled for December 2024, and the project is expected to progress quickly afterward.
Q. What is the current status of the redevelopment project and the construction company selection plan?
The construction company is currently undecided, and the selection process will begin after the association's approval in the second half of the year.
Currently, the construction company for the Yongho 1 District redevelopment project has not been determined. The selection process for the construction company is expected to begin in the second half of 2025 after the approval of the promotion committee and establishment of the association. The project is progressing quickly within 7 months post-announcement, which is expected to positively influence the local residents.
Q. How are the educational conditions of the Yongho 1 District Redevelopment Project evaluated?
The area is close to Yongho Elementary and Yongmoon Middle Schools, providing an excellent educational environment and various academy options.
The Yongho 1 District is evaluated as an excellent educational area due to its proximity to Yongho Elementary School, with Yongmoon Middle School also being within walking distance. It is well-supported by a variety of educational infrastructures such as the nearby LG Metro City Academy Area and the Daeyeon-dong and Namcheon-dong academy areas, which are just a 10-minute drive away. This is seen as a significant advantage by parents and residents.
Q. What is the expected real estate price after the completion of the Yongho 1 District Redevelopment Project?
It is expected that real estate prices in Yongho-dong will rise upon completion, and the new development will likely hold more value than Yongho Desian.
The recent transaction price for an apartment with a dedicated area of 85㎡ at 36 Yongju-ro, Nam-gu called 'Desian Harrington Place Park City' is around 580 million won. It is anticipated that completion of Yongho 1 District will improve residential conditions and form brand apartments, leading to a price increase compared to nearby apartments. Specifically, its proximity to elementary schools is expected to enhance its real estate value significantly.
Q. What impact will the Yongho 1 District Redevelopment Project have on the local area?
The aging residential areas are expected to be transformed into large-scale branded towns, significantly elevating residential values.
This redevelopment project will transform the aging residential areas of Yongho-dong into brand apartment complexes along with neighborhood living facilities, public offices, and street parks. This is expected to fundamentally improve local living conditions and infrastructure, leading to increased satisfaction among residents and a significant rise in property values. It will also likely have a positive effect on the local economy.
