Table of Contents
Hanyang Apartments Redevelopment in Yeonsan-dong / Designation Announcement of Maintenance Plan and Change of Maintenance Zone for Yeonsan District 6 Redevelopment Project
- Yeonsan-dong 387-1 area, Yeonje-gu
The redevelopment project of Hanyang Apartments (Yeonsan District 6) located in Yeonsan-dong, Yeonje-gu, has been officially announced by Busan Metropolitan City on June 25, 2025, regarding the maintenance plan and changes to the maintenance zone. With this change, the area has increased from 83,596㎡ to 84,191㎡ by 595㎡, and a new access road with a width of 27-34m and a length of 53m is included, excluding non-consenting parcels.
This also extends the project implementation period from the original 4 years to 7 years, giving the promotion committee time to reorganize the roadmap for the project with the future association.
Busan City reaffirmed its commitment to the project's continuity by extending the deadline for area clearing in February, and this area adjustment has entered the final stage of organizing rights. These changes are expected to have a positive effect on future redevelopment projects.
According to the previously planned project, it is planned to consist of a maximum of 37 stories with 1,672 households of exclusive area up to 85㎡.
The floor area ratio is set to be below 285%, and the building coverage ratio is set to be below 20%, aiming for an eco-friendly waterfront complex connected to the Oncheon-cheon riverside. In April 2025, a bid for the selection of a specialized management company for the maintenance project is scheduled to take place, and through this, the promotion committee plans to actively prepare for the actual business.
For price comparison, we looked at two complexes. The first is The Sharp Park City (2015, 1,758 households), and the second is Anrak Kyongdong Rin (2015, 693 households) located across Oncheon-cheon.
The transaction price for the exclusive area of 101.95㎡ in The Sharp Park City ranges from 669.7 million won to 735 million won, while for the exclusive area of 80.95㎡ in Anrak Kyongdong Rin, it ranges from 350 million won to 389 million won.
These two complexes have established the upper limits of the local price after 10 years of completion. Considering this, the redevelopment complex in Yeonsan District 6, which has a higher product quality, is likely to possess competitiveness at the stage of distribution and occupancy.
Currently, the supply situation of real estate in Busan is relatively positive. Approximately 9,110 housing units are scheduled to be occupied in 2025, which is the lowest number since 2009. Notably, in Yeonje-gu and Dongnae-gu, there have been no large-scale new complexes approved for use in the last five years. If the development of Yeonsan District 6 proceeds smoothly, a significant increase in demand for new housing is expected.
The area, known as 'Togok,' is located along Oncheon-cheon, featuring waterfront walking paths and a café street. In addition, educational institutions such as Yeoncheon Elementary and Middle schools are nearby, contributing to a favorable school district. Thanks to various road networks like Jungang-daero, Yeonan-ro, and Dongnae-ro, the convenience of living is high, and public transportation accessibility is excellent.
The newly developed roads, parks, and pedestrian pathways expected from this maintenance plan change are anticipated to play a significant role in solving traffic congestion issues and improving the walking environment.
The legal procedures have been newly organized through the maintenance plan and zone change announcement. Accordingly, the promotion committee must obtain approval for the establishment of the association within this year. It is important to proceed quickly with the selection of a construction company and the business implementation approval process afterwards. Investors and demanders should carefully observe the upcoming general assembly schedule and competition among construction companies.
Announcement No. 2025-236 of Busan Metropolitan City
Modification of the 2030 Busan Metropolitan City's Urban and Residential Environment Maintenance Basic Plan,
Designation announcement of maintenance plan and change of maintenance zone for Yeonsan District 6 Redevelopment Project
1. Regarding the modification of the "2030 Busan Metropolitan City Urban and Residential Environment Maintenance Basic Plan," announced as Busan Metropolitan City Announcement No. 2024-491 (2025.01.01.), it is hereby announced as follows in accordance with Article 7, Paragraph 3 of the "Urban and Residential Environment Maintenance Act."
2. The maintenance plan and maintenance zone designated as Busan Metropolitan City Announcement No. 2022-449 (2022.11.23.) for the Yeonsan District 6 Redevelopment Project are changed and announced as follows in accordance with Article 16 of the "Urban and Residential Environment Maintenance Act," and the terrain map is announced according to Article 8 of the "Basic Land Use Regulation Act" and Enforcement Decree Article 7.
3. Related documents (available for inspection at "http://eum.go.kr") are stored at the Busan Metropolitan City Urban Maintenance Division (☏051-888-4242) and Yeonje-gu Building Division (☏051-665-5052) for public access.
June 25, 2025
Mayor of Busan Metropolitan City
Ⅰ. Modification of the 2030 Busan Metropolitan City's Urban and Residential Environment Maintenance Basic Plan
1. Reason for Modification
○ Adjustment of the maintenance zone boundary and area change due to additional land incorporation for securing an alternative access road and exclusion of non-consenting parcels in the Yeonsan District-6 planned redevelopment area.
2. Modification Details
| Designation Type | No. | Zone Name | Area (1000㎡) | Location | Land Use Plan | Project Progress Stage | Maintenance Plan Establishment Period | Staged Plan | Remarks |
| Current | 328-2 | Yeonsan-6 Redevelopment | 83.6 | Yeonsan-dong 387-1 (Hanyang Apartments) | Residential Maintenance | Promotion Committee Formation | 2015 | Phase 4 | Area Change (Increase 0.6,000㎡) |
| Modified | 84.2 |
Ⅱ. Maintenance Plan and Maintenance Zone Modification for Yeonsan District 6 Redevelopment Project
1. Maintenance Zone Designation Record: Modification
| Designation Type | Type of Project | Name of Zone | Location | Area (㎡) | Remarks |
| Current | Redevelopment Project | Yeonsan District 6 Redevelopment Maintenance Zone | Yeonje-gu, Yeonsan-dong 387-1 area | 83,596 | |
| Modified | 84,191 | Increase) 595㎡ |
※ Reason for Modification: Change in zone boundary and area due to additional land incorporation for securing alternative access roads and exclusion of non-consenting parcels.
2. Maintenance Plan Decision: Modification
○ Plan regarding land use: Modification
| Category | Name | Area (㎡) | Ratio (%) | Remarks | |||
| Current | Modified | Post-modification | |||||
| Total | 83,596 | Increase) 595 | 84,191 | 100.0 | - | ||
| Maintenance Infrastructure etc. | Subtotal | 17,839 | Increase) 595 | 18,434 | 21.9 | - | |
| [Maintenance Infrastructure] | 12,216 | Increase) 595 | 12,811 | 15.2 | - | ||
| Road | 12,216 | Increase) 595 | 12,811 | 15.2 | ∙Securing the access road ∙Setback road inside the complex ∙Overlap of the flood control facility (A=1,348.1㎡) | ||
| [Urban Planning Facilities] | 5,623 | - | 5,623 | 6.7 | |||
| Park | 5,623 | - | 5,623 | 6.7 | ∙Street park ∙Overlap of flood control facility (A=898.9㎡) | ||
| Parcel | Subtotal | 65,757 | - | 65,757 | 78.1 | ||
| Multi-family housing land | 65,757 | - | 65,757 | 78.1 | ∙Including community facilities | ||
○ Plan regarding change of land use zone: Modification
| Category | Area (㎡) | Ratio (%) | Remarks | |||
| Before Modification | Modified | Post-modification | ||||
| Total | 83,596 | Increase) 595 | 84,191 | 100.0 | ||
| Residential Area | Type 3 General Residential Area | 82,528 | Increase) 1,585 | 84,113 | 99.9 | |
| Semi-residential Area | 1,068 | Decrease) 990 | 78 | 0.1 | ||
The plans regarding the main purposes of buildings, building coverage ratio, floor area ratio, and height have been revised. This is due to changes in area resulting from the exclusion and incorporation of zones without changes in land use.
| Decision Category | District Classification | Parcel Classification | Location | Main Use | Building Coverage Ratio | Floor Area Ratio | Height | Remarks | ||||
| Name | Area (㎡) | Name | Area (㎡) | |||||||||
| Current | Yeonsan District 6 Redevelopment Maintenance Zone | 83,596 | 1-1 | 65,757 | Yeonsan-dong 390-3 area | Multi-family housing and community facilities | Below 20% | Below 285% | Below 111m | |||
| Housing Scale and Construction Ratio | ∙Not applicable | |||||||||||
| Application of Floor Area Ratio Relaxation Standards | ∙Application of incentive calculation (average floor area ratio) when mixed land use is present in accordance with the "2020 Busan Metropolitan City Urban and Residential Environment Maintenance Basic Plan" ∙Relaxation and permissible floor area ratios 1) Standard floor area ratio - Type 3 General Residential Area: 240% (Residential maintenance) - Semi-residential area: 400% 2) Average floor area ratio: 307.1% ∙Planned floor area ratio: below 285% (considering reasonable land use in emergencies and subject locations) | |||||||||||
| Planning Regarding Building Lines of Buildings | ∙To secure shielding space for flood control facilities, a building limit line of 17m wide and 50m long is established within the project site adjacent to the east street park. | |||||||||||
| Modification | Yeonsan District 6 Redevelopment Maintenance Zone | 84,191 | 1-1 | 65,757 | Yeonsan-dong 390-3 area | Multi-family housing and community facilities | Below 20% | Below 285% | Below 111m | |||
| Housing Scale and Construction Ratio | ∙Not applicable | |||||||||||
| Application of Floor Area Ratio Relaxation Standards | ∙Application of incentive calculation (average floor area ratio) when mixed land use is present in accordance with the "2020 Busan Metropolitan City Urban and Residential Environment Maintenance Basic Plan" ∙Relaxation and permissible floor area ratios 1) Standard floor area ratio - Type 3 General Residential Area: 240% (Residential maintenance) - Semi-residential area: 400% 2) Average floor area ratio: 307.0% ∙Planned floor area ratio: below 285% (considering reasonable land use in emergencies and subject locations) | |||||||||||
| Planning Regarding Building Lines of Buildings | ∙To secure shielding space for flood control facilities, a building limit line of 17m wide and 50m long is established within the project site adjacent to the east street park. | |||||||||||
Categories
Announcement
Institutional Category
City
Institution
Busan Metropolitan City
Announcement Number
No. 2025-236
Title
Modification of the 2030 Busan Metropolitan City's Urban and Residential Environment Maintenance Basic Plan and the Designation Announcement of Maintenance Plan and Change of Maintenance Zone for Yeonsan District 6 Redevelopment Project
Date
2025-06-25
#YeonsanDistrict6, #Yeonsan-dongReconstruction, #HanyangApartments, #BusanReconstruction, #Yeonje-guRealEstate, #OncheoncheonView, #DoubleStationZone, #YeonsanStation, #Gyo-daeStation, #1672Units, #37StoryApartments, #FloorAreaRatio285, #MaintenancePlanChange, #AlternativeAccessRoad, #BusanApartmentPrices, #TheSharpParkCity, #AnrakKyongdongRin, #NewConstructionScarcity, #ResidentialEnvironmentImprovement, #BusanMoveInQuantity, #WaterfrontCommunity, #PedestrianBridgePlan, #ConstructionCompanySelection, #AssociationEstablishment, #ProjectApproval, #BusanUrbanMaintenance, #InvestmentPoints, #BusanRedevelopment, #SupplyCliff, #RealEstateMarketTrends
Frequently Asked Questions (FAQ)
Q. What are the changes to the maintenance zone of the Yeonsan District 6 redevelopment project?
The Yeonsan District 6 redevelopment project has been officially announced for a change in the maintenance zone, increasing the area from 83,596㎡ to 84,191㎡ by 595㎡ and including a new access road.
On June 25, 2025, Busan Metropolitan City officially announced changes to the maintenance plan and zone for the Hanyang Apartments (Yeonsan District 6) located in Yeonsan-dong. The existing area of 83,596㎡ has been increased by 595㎡ to 84,191㎡, and a new access road with a width of 27-34m and a length of 53m has been newly included, excluding non-consenting parcels. This change in the zone serves as the final stage of organizing rights and strengthens the legal foundation of the project.
Q. What are the main plans and scale of the redevelopment project?
The Yeonsan District 6 is planned as an eco-friendly waterfront complex with a maximum height of 37 stories, comprising 1,672 units of exclusive area below 85㎡, with a floor area ratio of below 285% and a building coverage ratio of below 20%.
According to past plans, the redevelopment of Yeonsan District 6 is to be developed into buildings with a maximum height of 37 stories, consisting of a total of 1,672 units with exclusive areas under 85㎡. The floor area ratio is set below 285%, and the building coverage ratio is below 20% to create a pleasant residential environment. Furthermore, it aims to develop an eco-friendly waterfront complex linked to the Oncheon-cheon river, allowing for a lifestyle in harmony with nature. In April 2025, bids are planned for the selection of specialized management companies to allow for substantive business preparations.
Q. What is the market competitiveness of the Yeonsan District 6 complex and the current price situation in the area?
The Yeonsan District 6 is expected to have strong competitiveness due to its high product quality compared to nearby complexes like The Sharp Park City and Anrak Kyongdong Rin.
Nearby complex The Sharp Park City (exclusive area 101.95㎡) trades between 669.7 million won and 735 million won, while Anrak Kyongdong Rin (exclusive area 80.95㎡) trades from 350 million won to 389 million won. Considering that these two complexes establish the upper limit of the local price, the newly constructed Yeonsan District 6 complex is expected to have sufficient market competitiveness at the stages of distribution and occupancy.
Q. What impact will the Yeonsan District 6 redevelopment project have on the local housing market?
The redevelopment project in Yeonsan District 6 is expected to contribute to an increase in demand for new housing and alleviate the supply shortages in Yeonje-gu and Dongnae-gu.
In 2025, about 9,110 new apartments are projected to be completed in Busan, which is the lowest figure since 2009. Particularly, Yeonje-gu and Dongnae-gu have seen few cases of new complexes being approved for use over the last five years, indicating limitations in housing supply. Therefore, if the redevelopment of Yeonsan District 6 proceeds as planned, it will play an essential role in meeting future demand for new housing in this area, positively impacting the local real estate market.
Q. What are the characteristics of the location and living environment of Yeonsan District 6?
Yeonsan District 6 is a convenient residential area adjacent to the Oncheon-cheon riverside, featuring excellent educational facilities and transportation infrastructure.
This area, known as 'Togok,' features pleasant environments such as waterfront walking paths and café streets along the Oncheon-cheon. Educational institutions like Yeoncheon Elementary and Middle schools enhance the quality of the district's schools. Additionally, the area boasts excellent living convenience with access to major road networks like Jungang-daero, Yeonan-ro, and Dongnae-ro, along with strong public transportation accessibility. The newly planned access roads, pedestrian pathways, and parks are expected to alleviate traffic congestion and create a more pleasant pedestrian environment.
Q. What are the upcoming schedules and procedures for the Yeonsan District 6 redevelopment project?
The establishment of the association must be approved by the end of 2025, followed by swift procedures for selecting a construction company and obtaining business implementation approval.
According to the Busan city's maintenance plan and zone change announcement, the promotion committee needs to obtain approval for the establishment of the association within this year. Subsequently, the important processes of selecting a construction company and obtaining business implementation approval will follow. Investors and demanders will need to observe and respond closely to the assembly schedule and competition among construction companies. Successfully completing these processes is crucial for the stable advancement of the project.
