Table of Contents
Raemian Mark the Suite / Myongryun 2 District Reconstruction Management Disposal Plan Approval Notice
- Myongryun-dong 702-47, including Samchang, Daejin, and Hanshin Apartments
The reconstruction of Myongryun District 2 is being actively carried out under the new name 'Raemian Mark the Suite' following the approval of the management disposal plan. According to the notice, the project site is located at 702-47 Myongryun-dong, Dongnae-gu, with an area of 24,879㎡. This project consists of 5 buildings with 3 underground floors and 28 above-ground floors, totaling 499 units. The management disposal approval was granted on June 13, 2025, and the association plans to start the formal relocation process in the second half of this year.
Samsung C&T, which was selected as the construction company at the 2021 assembly meeting, emphasizes its premium brand image. They propose the complex name 'Raemian Mark the Suite' and promise to provide unique architectural design and special community facilities like a sky lounge.
The project is progressing smoothly. When the project implementation plan is approved in February 2024, the construction cost will be set at approximately 7,755,000 KRW per 3.3㎡. The association is preparing to start relocation in August 2025 and is adjusting the schedule with a target move-in date in March 2029.
Discussions on sale prices are nearing completion. The association plans to set the general sales price at approximately 29.5 million KRW per 3.3㎡, while the price for association members is being adjusted to around 27 million KRW.
Looking at the surrounding market, recent transaction prices for nearby Dongnae Raemian I-Park (84㎡) are set around 900 million KRW, suggesting that the 'Raemian Mark the Suite' will maintain significant price competitiveness even after moving in.
The advantages of the location are very clear. It is near Myongryun Station on Busan Subway Line 1, providing convenient access to public transportation. Various living infrastructures such as commercial areas, educational facilities, Myongryun Park, and Bokcheon Museum are nearby, creating a desirable living environment.
If the reconstruction proceeds, the aging Samchang, Daejin, and Hanshin Apartments will transform into a modern branded complex, which is expected to improve the local residential environment and positively impact the rising apartment prices in Dongnae-gu.
Busan Metropolitan City Dongnae-gu Notice No. 2025-61
Management disposal plan approval notice for Myongryun 2 Reconstruction Project
In accordance with Article 74 (1) of the Urban and Residential Environment Maintenance Act, the management disposal plan is approved for the 'Myongryun 2 Reconstruction Project' in the area of 702-47 Myongryun-dong, Dongnae-gu, which was approved for the project implementation plan by Busan Metropolitan City Dongnae-gu Notice No. 2024-14 (2024.02.28).
June 18, 2025
Mayor of Dongnae-gu, Busan Metropolitan City
1. Type and Name of Maintenance Project
a. Type: Reconstruction Project
b. Name: Myongryun 2 Reconstruction Project
2. Location and Area of Maintenance District
a. Location: Area of 702-47 Myongryun-dong, Dongnae-gu, Busan Metropolitan City
b. Area: 24,879㎡
3. Name and Address of the Project Implementer
a. Implementer: Myongryun 2 Reconstruction Association (Chairman Lee Jong-ho)
b. Address: 210 Myongryun-ro, 6th Floor, Dongnae-gu, Busan
4. Date of Management Disposal Plan Approval: June 13, 2025 (Friday)
5. Summary of Management Disposal Plan
a. Land Use Plan
| Maintenance District Area (㎡) | Residential Land (㎡) | Maintenance Infrastructure (㎡) Subtotal | Road (㎡) | Public Space (㎡) |
| 24,879 | 21,465 | 3,414 | 3,384 | 30 |
b. Scale of Land and Buildings, Building Plan
Building Plan
| Category | Site Area (㎡) | Number of Buildings | Number of Floors | Number of Units | Total Floor Area (㎡) |
| Housing | | | | | |
| Subtotal | 21,243.9080 | 5 buildings | 28 floors | 499 units | 104,124.5083 |
| Sale | 21,243.9080 | 5 buildings | 28 floors | 499 units | 104,124.5083 |
| Rental | - | - | - | - | - |
| Commercial | 221.0920 | 2 buildings | 2 floors | - | 1,083.5024 |
c. Scale of sale or reserved land
Supply Target
Number of units by housing scale (based on exclusive area, ㎡)
| Supply Target | Total | 59.9869 | 74.9874 | 74.9807 | 84.9893 | 84.9862 | 110.8175 | 146.7154 | 154.4220 | 170.7021 | Commercial Area (㎡) |
| Total | 499 | 127 | 33 | 21 | 204 | 65 | 46 | 1 | 1 | 1 | 1,083.5024 |
| Landowners | 413 | 104 | 13 | 6 | 199 | 43 | 45 | - | 1 | 1 | 892.7165 |
| Reserved Facilities | 4 | - | - | 1 | 1 | 1 | 1 | - | - | - | - |
| General Sale | 82 | 23 | 19 | 14 | 5 | 21 | - | - | - | - | 190.7859 |
| Rental | - | - | - | - | - | - | - | - | - | - | - |
d. Specifications of newly established or abolished maintenance infrastructure
| Abolished Maintenance Infrastructure | Scale (㎡) | Newly Established Maintenance Infrastructure | Scale (㎡) | Implementer | Cost Bearer and Burden Details |
| Road | 1,669 | Road (Subroad No. 1-6) | 1,235 | Myongryun 2 District Reconstruction Association | Free of charge to project implementer/management agency |
| Road and Landscaping | 81 | Road (Subroad No. 2-6) | 835 | | |
| Landscaping and Sidewalk | 225 | Road (Subroad No. 2-8) | 1,314 | | |
| Road and Space | 48 | Public Space | 30 | | |
| Total | 2,023 | Total | 3,414 | | |
The anticipated demolition timing for existing buildings: Approximately 10 months from the initial start of relocation.
1. This may change based on the progress of relocation or ongoing building delivery lawsuits.
2. Decisions follow discussions with the construction company and resolutions by the board and delegate council.
Category
Notice
Agency Classification
District
Agency
Dongnae-gu
Notice Number
No. 2025-61
Title
Approval Notice for the Management Disposal Plan of Myongryun 2 Reconstruction Project
Date
2025-06-18
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Frequently Asked Questions (FAQ)
Q. Where is the Raemian Mark the Suite reconstruction project located?
It is located in the area of 702-47 Myongryun-dong, Dongnae-gu, Busan.
The Raemian Mark the Suite is a reconstruction project underway in the area of 702-47 Myongryun-dong, Dongnae-gu, Busan, specifically within Myongryun District 2. This area is strategically located near Myongryun Station on Busan Subway Line 1, offering ultra-station area benefits. Various living conveniences such as commercial areas, educational facilities, Myongryun Park, and Bokcheon Museum surround it, leading to an excellent residential environment.
Q. Can you tell me about the main scale and composition of the Raemian Mark the Suite complex?
It consists of 5 buildings, with 3 underground floors and 28 above-ground floors, totaling 499 units.
This reconstruction project spans approximately 24,879㎡, comprising of 5 buildings with 3 underground floors and 28 above-ground floors. It includes a total of 499 units and is a premium brand complex with advanced design and layout implemented by Samsung C&T. Special community facilities like a sky lounge are also planned to enhance residential satisfaction.
Q. When was the project schedule and management disposal plan approval obtained?
The management disposal plan was approved on June 13, 2025, and relocation will start in the second half of 2025.
The management disposal plan was approved on June 13, 2025, and the association plans to begin the formal relocation process in August of that year. Subsequently, the project is underway with a target move-in date of March 2029. In February 2024, the project implementation plan will be completed, and the detailed plans regarding construction costs and sale prices will be smoothly confirmed.
Q. How are the sale prices determined, and how does their competitiveness compare to nearby market prices?
The general sale price is set at approximately 29.5 million KRW per unit, while the member sale price is around 27 million KRW.
The sale prices are currently in the finalization stage, with general sales prices set at about 29.5 million KRW per unit and member prices around 27 million KRW. Looking into the nearby Dongnae Raemian I-Park, recent transactions for the 84㎡ units are approximately 900 million KRW, indicating good price competitiveness and value appreciation expected for the 'Raemian Mark the Suite' after move-in.
Q. What impact will the reconstruction project have on the area and residential environment?
The transformation of old apartments into a branded complex will improve the residential environment and real estate value.
The Myongryun 2 District reconstruction project will revamp the aging facilities of the existing Samchang, Daejin, and Hanshin Apartments into a premium branded complex known as 'Raemian Mark the Suite.' This is expected to significantly enhance the residential environment in Dongnae-gu and positively affect the rising apartment prices there. The combination of a favorable location and modern design is likely to increase residents' satisfaction levels.
