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Announcement of Redevelopment Plan Decision and Designation of Redevelopment Area for Yeonsan 13 Area
- Yeonsan 2-dong redevelopment, area around Yeonsan-dong 794-16, Yeonje-gu
The Yeonsan 13 redevelopment project officially commenced on June 11 with the decision of the redevelopment plan and designation of the redevelopment area. The project area spans 35,978㎡ in Yeonsan-dong 794-16 in Yeonje-gu, with plans to construct approximately 780 households in 7 apartment buildings.
The maximum floor area ratio is set at 280%, and the maximum building height is planned at 100m, expected to transform into a mid to high-rise residential complex. The public notice for the redevelopment plan decision and designation was made in January 2025, and the project officially commenced 6 months later.
Announcement No. 2025-220 by Busan Metropolitan City
Announcement of the Redevelopment Plan Decision and Designation of the Redevelopment Area for Yeonsan 13 Project
1. In accordance with Article 16 of the Urban and Residential Environment Maintenance Act, the redevelopment plan decision and designation of the redevelopment area for the Yeonsan 13 Redevelopment Project located at Yeonsan-dong 794-16, Yeonje-gu, Busan Metropolitan City, are hereby announced, including the topographical map according to Article 8 of the Land Use Regulation Basic Act and Article 7 of its Enforcement Decree.
2. Relevant materials can be accessed at the Busan Metropolitan City Urban Regeneration Division (☏051-888-4231) and Yeonje-gu Urban Planning Division (☏051-665-5051) for public inspection.
June 11, 2025
The Mayor of Busan Metropolitan City
Ⅰ. Designation of Redevelopment Area and Decision of Redevelopment Plan
1. Redevelopment Area Designation Document
| Type | Project Classification | Area Name | Location | Area (㎡) | Remarks |
| New | Redevelopment Project | Yeonsan 13 Redevelopment Area | Yeonje-gu Yeonsan-dong 794-16 | 35,978.4 |
2. Redevelopment Project Plan
○ Plan regarding land use
Frequently Asked Questions (FAQ)
Q. What is the location and scale of the Yeonsan 13 Redevelopment Project?
The Yeonsan 13 area is located in Yeonje-gu, Busan, at 794-16 Yeonsan-dong, covering an area of 35,978㎡, with approximately 780 households in 7 apartment buildings planned.
The target site for the Yeonsan 13 redevelopment project is located in Yeonje-gu, Busan, at 794-16 Yeonsan-dong, covering a total area of 35,978㎡. There are plans to construct approximately 780 households in 7 apartment buildings, expecting the development of a mid to high-rise residential complex in the area. The floor area ratio is set to a maximum of 280%, with a maximum building height of 100m, transforming into a modern living environment.
Q. How will traffic and living convenience improve in the redevelopment project?
Yeonsan 13 area is adjacent to the back side of Emart Yeonje and about a 10-minute walk from Yeonsan Station, with improvements to transportation such as new roads and pedestrian paths.
This project site is next to the rear of Emart Yeonje, making it easy to access living convenience facilities. It is about a 10-minute walk to Yeonsan Station, which is a transfer station for Busan Metro Lines 1 and 3, boasting excellent accessibility. Moreover, plans include a new 17-meter-wide road, a 6-meter pedestrian pathway, and establishment of air rights, significantly contributing to the improvement of residents' transportation conditions and pedestrian convenience.
Q. How will the living environment change after the redevelopment of Yeonsan 13 area?
After the demolition of the 227 old houses, new residential apartments, a childcare center, neighborhood facilities, and a public parking lot will be established, with more than 40% of the houses planned to be below 85㎡.
The Yeonsan 13 area will demolish the existing 227 old houses and establish a new apartment complex with a childcare center, neighborhood facilities, and a public parking lot of 625㎡, greatly improving the living infrastructure. More than 40% of the new apartments will have an exclusive area below 85㎡, and more than 10% will be allocated as rental housing, providing more opportunities for actual demanders and young generations to acquire homes. Additionally, it is expected that the neighborhood will also enhance the conditions for commuting to nearby schools.
Q. What is the future schedule and outlook for the Yeonsan 13 Redevelopment Project?
If quickly promoted, authorization for project implementation can occur within 4 years from the announcement, with construction and sales expected in 6-7 years, and potential price increases during interest rate declines.
The Yeonsan 13 redevelopment project is expected to receive project implementation approval within 4 years from the announcement date of June 11, 2025, and construction and sales are anticipated within 6-7 years. Analysts suggest that if there is a decline in interest rates, there is substantial potential for sale price increases compared to surrounding prices, but it is necessary to closely monitor the speed of incorporation establishment, competition among construction companies, business costs, and determined allocations.
Q. What is the current status of real estate prices and investment references near Yeonsan 13 area?
The nearby Yeonje Lotte Castle Desire offers 84㎡ at approximately 563-570 million won, while Brownstone Yeonje for 83㎡ is at about 442-450 million won.
The nearby apartment complex Yeonje Lotte Castle Desire, completed in 2018 with 1,168 households, recently trades 84㎡ at approximately 563-570 million won, roughly 2,260 million won per pyung. In contrast, the Brownstone Yeonje, completed in 2016 with 738 households, has a transaction price for 83㎡ around 442-450 million won, about 1,770 million won per pyung. The approximately 30% price difference may serve as an essential reference point for investors.