Table of Contents
Beomcheon 4 District Housing Redevelopment Project Implementation Plan Approval
- Located at 1269-15 Beomcheon-dong, Busanjin-gu
The Beomcheon 4 District housing redevelopment project has officially passed the project implementation plan approval on June 11. This project is located on a site of approximately 126,709㎡ at 1269-15 Beomcheon-dong, Busanjin-gu.
The planned buildings consist of 18 blocks with 6 underground floors and 36 above-ground floors, accommodating a total of 2,206 households (including 161 rental units). Hyundai Construction Hillstate has been confirmed as the contractor, with groundbreaking scheduled for May 2028 and completion anticipated in August 2031.
This approval came two months after the public exhibition and announcement for the project implementation plan in April.
Within the complex, 6 new roads including Line 3-15 will be constructed, along with small parks and children's parks, significantly improving the residential environment and green spaces. Additionally, it is evaluated as a prime location within the city, being a 15-minute walk to Beomnaegol Station (Line 1) and a 10-15 minute drive to the Seomyeon Central Business District and International Financial District.
The market value of Beomcheon 4 District is evaluated in comparison to the nearby e-Pyeonhwan Seongdong the Central (998 households). Recently, the actual transaction price for the unit area of 59㎡ reached about 18 million won per pyeong, and for 84㎡ it reached about 21 million won per pyeong.
Considering the rise in construction costs, brand value, and the premium for large complexes, Beomcheon 4 District is expected to have more than double the number of households compared to this apartment complex and significantly improved living infrastructure. Therefore, upon completion, it is likely to lead the market value in the Seomyeon-Beomcheon area.
Brand new large complexes and brand apartments are rare in the Seomyeon living area and are expected to satisfy both housing preferences and rental demand. Industry insiders emphasize the importance of prompt progress, the recently increased construction costs, and reasonable pricing.
If the management disposition procedure is completed swiftly and the relocation and demolition proceed smoothly, Beomcheon 4 District is likely to emerge as a key investment spot for urban redevelopment in Busan. These changes are expected to positively impact the regional real estate market.
Busanjin-gu Announcement No. 2025-97
Approval for Project Implementation Plan for the Beomcheon 4 District Housing Redevelopment Project
The Beomcheon 4 District housing redevelopment project located at 1269-15 Beomcheon-dong, Busanjin-gu, designated as a maintenance zone and approved for maintenance plans by Busan Metropolitan City Announcement No. 2007-145 (2007.04.11) and changed by Busan Metropolitan City Announcement No. 2021-16 (2021.01.20), is approved for project implementation plan according to Article 50(1) of the Urban and Residential Environment Maintenance Act, and this is announced in accordance with Article 50(7) of the same Act and Article 10(3) of the Enforcement Decree of the same Act. Matters subject to deemed treatment under each clause of Article 57(1) of the same Act are considered to have been announced according to relevant laws by this announcement.
June 11, 2025
Mayor of Busanjin-gu, Busan Metropolitan City
1. Type and Name of Maintenance Project
a. Type: Redevelopment Project
b. Name: Beomcheon 4 District Housing Redevelopment Project
2. Location and Area of the Maintenance Zone
a. Location: Area of 1269-15 Beomcheon-dong, Busanjin-gu, Busan Metropolitan City
b. Area: 126,709㎡
3. Name and Address of the Project Implementer
a. Implementer: Beomcheon 4 District Housing Redevelopment Project Association (Chairman Kim Min-jae)
b. Address: 203, Sangga, 66 Sinam-ro, Busanjin-gu, Busan Metropolitan City (Beomcheon-dong)
4. Implementation period of the maintenance project: 120 months from the date of project implementation approval
5. Date of Project Implementation Plan Approval: June 2, 2025
6. Details of lands or buildings to be acquired or used, and rights other than ownership: Attached
7. Matters related to construction plans, including site area, building coverage ratio, floor area ratio, height, and use
* Site area: 91,105㎡
* Building area: 14,872.1611㎡
* Total floor area: 426,028.1603㎡
* Maximum height: 107.2m
* Floor area ratio: 276.21%
* Building coverage ratio: 16.32%
* Number of floors: 6 underground/36 aboveground
* Number of buildings: 18
* Use: multi-family housing (apartments) and ancillary welfare facilities, office facilities (offices), neighborhood commercial facilities
* Number of households: 2,206 households (including 161 rental households)
8. Scale of houses and housing construction plans
| Supply Type | Housing Type | Number of Buildings | Number of Households | Number of Households by Housing Scale (Based on Exclusive Area, ㎡) |
| Total | - | 18 | 2,206 | - |
| Main | Multi-family housing (including rental) | 18 | 2,045 | 39(124 households), 54(57 households), 59(496 households), 74A(311 households), 74B(30 households), 84A(778 households), 84B(315 households) |
| Rental | Multi-family housing | - | 161 | 84(44 households), 84(2 households), 84(64 households), 101(254 households), 112(1 household), 132(1 household), 146(1 household) |
9. Matters related to the attribution of maintenance infrastructure and land according to Article 97 of the Urban and Residential Environment Maintenance Act
a. Maintenance infrastructure whose use is abolished: See attached land list
b. Newly installed maintenance infrastructure
10. Matters subject to deemed approval under other laws
a. Approval of business plan under Article 15 of the Housing Act
b. Building permit under Article 11 of the Building Act
c. Designation of the urban planning facility project implementer under Article 86 of the National Land Planning and Utilization Act and approval of the execution plan for urban planning facilities under Article 88 of the same law
d. Matters subject to deemed approval under Article 57 of the Urban and Residential Environment Maintenance Act (when relevant documents required by the law are submitted)
11. Urban planning facility project operation details
a. Project operation site: Area of 1269-15 Beomcheon-dong, Busanjin-gu, Busan Metropolitan City
b. Type of project: urban planning facility
c. Project scale: 6 new roads and 4 public facilities
* Road planning facilities
* Major Road Line 3-15 (width 25~28m, length 1,450m)
* Medium Road 1-370 (width 20~23m, length 119m)
* Medium Road 3-105 (width 12~35m, length 2,300m)
* Minor Road 3-303 (width 6m, length 270m)
* Minor Road 3-304 (width 6m, length 100m)
* Public facility
* Public facility A: Area of 1272-367 Beomcheon-dong, Busanjin-gu, 794㎡
* Public facility B: Area of 1272-15 Beomcheon-dong, Busanjin-gu, 35㎡
* Public facility C: Area of 1272-13 Beomcheon-dong, Busanjin-gu, 148㎡
* Public facility D: Area of 1269-16 Beomcheon-dong, Busanjin-gu, 353㎡
※ Decision on urban planning facility (park) plan is on hold for future determination
d. Name and address of the project implementer
1. Name: Beomcheon 4 District Housing Redevelopment Project Association (Chairman Kim Min-jae)
2. Address: 203, Sangga, 66 Sinam-ro, Busanjin-gu, Busan Metropolitan City (Beomcheon-dong)
e. Project period
1. Scheduled start date: May 2, 2028
2. Scheduled completion date: August 5, 2031
f. Related documents: Omitted
Category
Announcement
Agency Classification
District
Agency
Busanjin-gu
Announcement Number
No. 2025-97
Title
Approval for Project Implementation Plan for the Beomcheon 4 District Housing Redevelopment Project
Date
June 11, 2025
#Beomcheon4District, #HillstateRenaissance, #BusanRedevelopment, #BusanjinGuApartments, #BeomnaegolStationArea, #HyundaiConstruction, #ProjectImplementationPlanApproval, #2206Households, #BrandTown, #UrbanLargeComplex, #ScheduledStart2028, #ScheduledCompletion2031, #SeomyeonLivingArea, #AdjacentToInternationalFinancialDistrict, #UrbanMaintenanceProject, #BusanNewApartments, #SalesPriceOutlook, #2300PerPyeong, #2600PerPyeong, #TransportationRedevelopment, #LivingInfrastructureExpansion, #6NewRoads, #CreationOfSmallParks, #PublicFacilities, #IncreaseInResidentialValue, #BrandPower, #HillstateIconic, #BusanApartmentPrices, #InvestmentPoint, #RealEstateNews
Frequently Asked Questions (FAQ)
Q. What is the location and area of the Beomcheon 4 District Housing Redevelopment Project?
It is located in Beomcheon-dong, Busanjin-gu, at 1269-15, covering an area of approximately 126,709㎡.
The Beomcheon 4 District housing redevelopment project is located in the area around 1269-15 Beomcheon-dong, Busanjin-gu, Busan, with a site area of approximately 126,709㎡. This area is adjacent to the Seomyeon living area within Busan's city center, and its location is expected to enhance urban accessibility and improve living infrastructure.
Q. What are the major construction plans for the Beomcheon 4 District Housing Redevelopment Project that has received project implementation plan approval?
Plans include 6 underground floors and 36 above-ground floors with 18 blocks, totaling 2,206 households of apartments.
The Beomcheon 4 District project entails the construction of 18 blocks comprising 6 underground and 36 above-ground floors, encompassing a total of 2,206 households (including 161 rental units), along with ancillary welfare facilities, office facilities, and neighborhood commercial facilities. The site area is 91,105㎡, the building area is 14,872㎡, and the total floor area is approximately 426,028㎡. The maximum height is set at 107.2m with a floor area ratio of 276.21%.
Q. When is the expected start and completion date for the Beomcheon 4 District Housing Redevelopment Project?
Groundbreaking is scheduled for May 2028, with completion expected in August 2031.
This project has completed the project implementation plan approval as of June 2, 2025, with the expected groundbreaking date being May 2, 2028, and the anticipated completion date set for August 5, 2031. The total duration of the project is 120 months from the date of project implementation approval, and if the relocation and demolition procedures proceed smoothly, it is expected to be completed as scheduled.
Q. What infrastructure is being developed within the Beomcheon 4 District Housing Redevelopment Project, and what are the transportation conditions like?
Six new roads will be constructed, along with the creation of small parks and children's parks, and excellent accessibility to public transportation.
Within the project site, six new roads, including Line 3-15, will be developed, significantly enhancing traffic flow. Additionally, small parks, children's parks, and public spaces will be established, providing a pleasant residential environment and green spaces. It is a 15-minute walk to Beomnaegol Station (Line 1) and a 10-15 minute drive to the Seomyeon Central Business District and International Financial District, boasting excellent locational conditions.
Q. Who is constructing the Beomcheon 4 District Housing Redevelopment Project and how is the brand value assessed?
Hyundai Construction Hillstate is the contractor, and the brand and large complex premium are highly valued.
This project has confirmed Hyundai Construction Hillstate as the contractor. Compared to the nearby large complex e-Pyeonhwan Seongdong the Central, which has more than double the number of households and improved living infrastructure, it is expected to have high housing preference. The brand value is likely to make it a core brand town in Busan due to rising construction costs and the premium for large complexes.
Q. What impact will the Beomcheon 4 District Housing Redevelopment Project have on the Busan real estate market?
It is expected to meet both housing preference and rental demand as a new large complex brand apartment.
The Beomcheon 4 District, a new large complex brand apartment rarely supplied in the Seomyeon living area, will require fast progress and reasonable sale prices. If management disposition, relocation, and demolition proceed smoothly, it is likely to emerge as a key investment spot for urban redevelopment in Busan. This is expected to bring positive investment and housing environment improvements to the regional real estate market.