Table of Contents
Announcement of the maintenance plan decision and designation of the maintenance area for the redevelopment project of District 2
- Area of 1043-1 Sujeong-dong, Dong-gu
The redevelopment project of District 2 is being conducted in the area of 1043-1 Sujeong-dong, Dong-gu, Busan. This project completed the maintenance plan decision and area designation on June 25. The announcement came 8 months after the resident consultation and briefing held in October last year, highlighting the quick administrative process.
The area of the maintenance zone is approximately 28,316㎡ and has been changed from a type 2 general residential area to a type 3 area. This change allows for a building coverage ratio of 40%, a floor area ratio of 259%, and a maximum height of up to 110m.
The planned number of households is 670 units, with over 40% being medium and small homes with exclusive areas of 85㎡ or less, and more than 10% designated as rental housing. The application of incentives has increased the floor area ratio, enhancing project feasibility, and once the construction company is selected, the construction scale is expected to reach approximately 300 billion won.
e-Comfortable world apartments of 84㎡ near Busan Port are trading between 570 million and 610 million won as of May 2025.
Similarly, apartments of the same size at Choryang Bestium Central Bay are reported to be between 480 million and 580 million won in the first half of 2025.
If District 2 is developed into a large-scale branded apartment complex, it seems likely that the price difference between the two complexes will narrow.
The area is home to excellent educational facilities. Dongil Central Elementary School, Busan Seo Middle School, Busan Middle School, Busan High School, Gyeongnam Girls' Middle School, and Gyeongnam Girls' High School are located nearby, allowing easy access to 12 years of education within walking distance.
Additionally, the new 1-490 road (22m width) and the extension and expansion of existing roads, along with the opening of public pedestrian paths measuring 163m and 90m, are expected to improve traffic flow and pedestrian routes.
It is located near Choryang Station on Busan Metro Line 1, and by car, you can reach the Nampo area, Busan Station, and Seomyeon within 10 minutes via Mangyang-ro and Honggok-nam-ro. In particular, with the first phase of the North Port redevelopment project and the Ministry of Oceans and Fisheries relocation plan coinciding, substantial increases in demand for work, culture, and housing are anticipated in the future.
With the designation of the maintenance zone confirmed, risks have been alleviated, and subsequent steps will include establishing the association and obtaining approval for the business implementation plan and management disposition plan.
This transformation of the old residential area into a modern apartment complex of 670 households is expected to rejuvenate the Dong-gu original downtown area, along with an influx of population.
Announcement No. 2025-242 by Busan Metropolitan City
Announcement on the maintenance plan decision and designation of the maintenance area for the redevelopment project of District 2
1. In accordance with Article 16 of the Urban and Residential Environment Maintenance Act, the maintenance plan decision and designation of the maintenance area for the redevelopment project of District 2 in 1043-1 Sujeong-dong, Dong-gu, Busan is made and announced, along with the topographic map as per Article 8 and Enforcement Rule Article 7 of the Basic Act on Land Use Regulation.
2. Relevant documents (land connection “http://www.eum.go.kr” available for review) are kept at the Busan Metropolitan City Urban Maintenance Division (☏051-888-4231) and the Dong-gu Building Division (☏051-440-4461) for public viewing.
June 25, 2025
Mayor of Busan Metropolitan City
Ⅰ. Designation of the maintenance area and decision on the maintenance plan
1. Designation report of the redevelopment project maintenance area
| Designation Category | Type of Project | Name of Area | Location | Area (㎡) | Remarks |
| Newly Established | Redevelopment Project | Maintenance Area of District 2 Redevelopment Project | Area of 1043-1 Sujeong-dong | 28,316 | - |
2. Redevelopment Project Maintenance Plan
○ Plans regarding land use
| Category | Name | Area (㎡) | Ratio (%) | Remarks | |
| Urban Management Plan Area | Total | 28,316 | 100.0 | - | |
| General Residential Area Type 3 | 28,316 | 100.0 | Type 2 → Type 3 | ||
| Land and Maintenance Infrastructure (Urban Planning Facilities) | Total | 28,316 | 100.0 | - | |
| Land | 23,995 | 84.7 | - | ||
| Multi-Family Housing Land | 23,995 | 84.7 | - | ||
| Maintenance Infrastructure (Urban Planning Facilities) | 4,321 | 15.3 | - | ||
| Roads | 4,321 | 15.3 | - | ||
○ Plan for changes in land use areas
| Category | Area (㎡) | Ratio (%) | Remarks | |||
| Existing | Change | After Change | ||||
| Total | 28,316 | - | 28,316 | 100.0 | - | |
| Land Use Zones | Type 2 General Residential Area | 28,316 | Reduce) 28,316 | - | 0.0 | - |
| Type 3 General Residential Area | - | Increase) 28,316 | 28,316 | 100.0 | - | |
○ Estimated contribution burden by land ownership and calculation basis
| Estimated Contribution Amount | Estimated Total Income Amount | Estimated Total Project Cost | Estimated Total Asset Amount | Estimated Proportional Rate |
| 356,738,234,875 | 269,660,958,373 | 82,962,520,486 | 104.96% | |
| Basis for Calculation | ◦ Estimated Total Asset Amount = Total Sum of Estimated Assets by Land Owners ◦ Estimated Proportional Rate = (Estimated Total Income Amount – Estimated Total Project Cost) / Estimated Total Asset Amount × 100% ◦ Contribution by Land Owners = Member Selling Price - Rights Value | |||
※ The above estimated total asset amounts and individual contribution calculations may change according to future management plans etc.
(Estimates and calculation basis for the contribution burden by land ownership omitted)
○ Plans for primary usage of buildings, coverage ratio, floor area ratio, height, etc.
| Category | Area Classification | Unit or Lot Classification | Location | Primary Use | Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) | Remarks | ||
| Name | Area (㎡) | Name | Area (㎡) | |||||||
| Newly Established | Maintenance Area of District 2 Redevelopment Project | 28,316 | A-1 | 23,995 | Area of 1043-40 Sujeong-dong | Multi-Family Housing | 40 or below | 259 or below | 110 or below | |
| Scale of Housing and Construction Ratio by Size | ◦ Over 40% of the total number of housing units constructed to be 85㎡ or less | |||||||||
| Matters Concerning the Construction of Rental Housing | ◦ At least 10% of the total number of housing units constructed to be rental housing ◦ More than 30% of the total number of rental housing units or more than 5% of the total number of housing units constructed → Rental housing with area of 40㎡ or less | |||||||||
| Application of Floor Area Ratio Relaxation Criteria | ◦ Basic Floor Area Ratio: 219% (Residential Management Area 210%, Special Maintenance Area 9%) ◦ Calculation of Floor Area Ratio Incentives: 42.2% - Incentives for providing public interest elements: 3.2% = 1.5 × (Provided Area ÷ Provided After Land Area) × 200% = 1.5 × (257.0㎡ ÷ 23,995.0㎡) × 200% = 3.2% - Regional Economic Revitalization Incentives: 25.0% → Independent/Joint Bids 20%, Designers 5% - Additional Incentives: 14.0% → Sustainable Multi-Family Housing 5.0% → Green Building Certification Energy Efficiency Rating Certification 9.0% ◦ Allowable Floor Area Ratio Calculation - 219% + 40% (Total Incentives Applied) = 259.0% ◦ Planned Floor Area Ratio: 259.0% or less (excluding regional economic revitalization incentives if no local construction companies participate) | |||||||||
Classification
Announcement
Agency Classification
City
Agency
Busan Metropolitan City
Announcement Number
No. 2025-242
Title
Announcement on the maintenance plan decision and designation of the maintenance area for the redevelopment project of District 2
Date
2025-06-25
#District 2, #Sujeong 2 Redevelopment, #Maintenance Plan Decision, #Maintenance Area Designation, #Dong-gu Redevelopment, #Busan Redevelopment, #Sujeong-dong, #670 Households, #Type 3 General Residential Area, #Floor Area Ratio 259, #e-Comfortable world Busan Port, #Choryang Bestium Central Bay, #Busan Apartment Price, #Jochon Station, #Choryang Station, #Dongil Central Elementary School, #Busan Seo Middle School, #Busan Middle School, #Busan High School, #Gyeongnam Girls' Middle School, #Gyeongnam Girls' High School, #School Zone, #North Port Redevelopment, #Ministry of Oceans and Fisheries Relocation, #Transportation Network Improvement, #Public Pedestrian Paths, #Residential Environment Improvement, #Brand Apartments, #Busan Real Estate, #New Construction Premium, #Investment Point
Frequently Asked Questions (FAQ)
Q. What are the main contents of the redevelopment project of District 2?
The redevelopment project of District 2 entails creating an apartment complex with 670 households in an area of 28,316㎡ at 1043-1 Sujeong-dong, Dong-gu.
The redevelopment project of District 2 located at 1043-1 Sujeong-dong, Dong-gu, Busan received its announcement on maintenance plan decision and area designation on June 25, 2025. The site has changed from a type 2 general residential area to a type 3 general residential area, with a building coverage ratio of 40%, a floor area ratio of 259%, and a maximum height of 110m. There are plans for 670 households, of which over 40% will be smaller homes with exclusive areas of 85㎡ or less, and more than 10% will be rental housing. After selecting a construction company, the project scale is estimated to reach approximately 300 billion won.
Q. What is the location and transport environment of the redevelopment project of District 2?
It is located in Sujeong-dong, Dong-gu, and is near Choryang Station, allowing access to Nampo, Busan Station, and Seomyeon within 10 minutes.
District 2 is located near Choryang Station on Busan Metro Line 1. By car, you can reach the Nampo area, Busan Station and Seomyeon within 10 minutes via Mangyang-ro and Honggok-nam-ro, making transport very convenient. Furthermore, the establishment of new road 1-490 and the opening of public pedestrian paths measuring 163m and 90m are expected to significantly enhance traffic flow and pedestrian environments. With the first phase of the North Port redevelopment project and the Ministry of Oceans and Fisheries relocation plan aligning, a substantial increase in work, cultural, and residential demand is anticipated.
Q. What impact will the District 2 redevelopment project have on the local residential environment and population?
Old residential areas are expected to transform into a modern apartment complex of 670 households, rejuvenating the original downtown of Dong-gu and leading to an influx of population.
The designation of the maintenance zone alleviates risks associated with the project, leading to the establishment of the association, approval of the business implementation plan, and management disposition plan being carried out sequentially. The transformation of the old residential area into a modern apartment complex is expected to contribute to the revitalization of the original downtown area in Dong-gu. Additionally, the entry of new apartments is likely to promote population influx, thereby positively impacting the local economy.
Q. What is the ratio of medium-sized and rental housing in the redevelopment project of District 2?
More than 40% of the total households will be medium-sized housing of 85㎡ or less, and over 10% will be rental housing.
In the redevelopment project of District 2, out of the planned 670 households, more than 40% will consist of medium-sized housing with an exclusive area of 85㎡ or less, facilitating residential convenience for actual demand. More than 10% of the units will be allotted as rental housing, intending to create a residential environment where diverse socio-economic classes can reside stably. This arrangement aims to enhance project viability while securing stability in local housing supply.
Q. How are the apartment prices near the District 2 redevelopment project being determined?
Nearby e-Comfortable world apartments of 84㎡ are priced between 570 million and 610 million won, while Choryang Bestium Central Bay values range from 480 million to 580 million won.
The e-Comfortable world apartments located near Busan Port of 84㎡ are trading between 570 million and 610 million won as of May 2025. Apartments of the same size at Choryang Bestium Central Bay are reported to be in the range of 480 million to 580 million won in the first half of 2025. If District 2 is developed into a large-scale branded apartment complex, there is a high likelihood of narrowing the price difference between these two complexes, positively impacting the real estate market.
