Table of Contents
Syangyong The Platinum Dongnae Asiad Scheduled for Sale in July / Announcement of Oncheon 2nd Public Apartment Area Street Housing Maintenance Project Business Implementation Plan (Change) Approval
- Area of Oncheon-dong 1370-1, Dongnae-gu
The Oncheon 2nd Public Apartment Street Housing Maintenance Project is being carried out in the area of Oncheon-dong 1370-1, Dongnae-gu, Busan. This project is known by the brand name 'Syangyong The Platinum Dongnae Asiad', which recently received approval for the change of the business implementation plan on June 20.
The total site area is 9,019.7㎡, and three buildings will be constructed from two basement floors to 24 floors above ground. The apartment consists of 232 units of 59㎡ and 39 units of 84㎡ based on exclusive area. The floor area ratio is set at 299.16%, and the building coverage ratio is set at 23.7%, with a project implementation period defined from the approval date for 60 months.
The contractor for this project is Syangyong Construction, which was selected at the general meeting of the association in 2021 and has signed a construction contract worth 68.6 billion won. Future progress is being closely monitored.
The project received approval for the establishment of the association in 2021 and cleared the business implementation plan approval in March 2023. By August 2024, the first changed authorization will be completed, and this second change authorization is also completed.
It is currently at the stage before construction, and Syangyong The Platinum Dongnae Asiad is preparing for sales approval, aiming for general sales in July. Occupancy is scheduled for August 2028.
A comparable complex in terms of market price is e-Comfortable World Dongnae Asiad. The recent transaction prices for 84㎡ in this complex range between 670 million won and 720 million won, providing a gauge for the prices of nearby new apartments. The maintenance project for Oncheon 2nd Public Apartment combines brand value and rarity, raising interest in how competitive pricing for the same area will be set. It is time to closely monitor future market trends.
The location conditions are very attractive. Sajik Station and Minam Station are nearby, allowing access to both subway lines 3 and 4. Additionally, Asiad Stadium and Oncheon Stream waterfront park are in the vicinity, providing a pleasant residential environment. Educational institutions such as Dongnae Elementary, Dongnae Middle, and Dongnae High School are densely packed nearby, offering advantages in the academic area. When using a vehicle, easy access to Jungang-daero, Chungnyeol-daero, and Manduk-daero enables travel to anywhere in Busan within 20 minutes.
Recent adjustments have been completed regarding cooperative members and common sale units, and estimates for construction costs and revenue have also been recalibrated. Through this, the maintenance of old residential areas and the expansion of living SOC, as well as the supply of brand large-scale apartments, are expected.
Such changes are anticipated to contribute significantly to improving the residential environment in the Dongnae area. New apartment complexes being formed along with e-Comfortable World Dongnae Asiad, completed in 2020, are expected to play a crucial role in increasing local values.
Announcement No. 2025-64 of Dongnae-gu, Busan Metropolitan City
Announcement of the Oncheon 2nd Public Apartment Area Street Housing Maintenance Project Business Implementation Plan (Change) Approval
Approved by Announcement No. 2023-29 (March 1, 2023) of Dongnae-gu, Busan Metropolitan City and announced by Announcement No. 2024-78 (August 28, 2024), the business implementation plan for the Oncheon 2nd Public Apartment Area Street Housing Maintenance Project located in Oncheon-dong 1370-1, Dongnae-gu, Busan, is hereby approved in accordance with Article 29 of the Special Law on the Maintenance of Vacant Houses and Small Scale Housing. This announcement is made in accordance with the Enforcement Rule of the same Law, Article 10.
June 25, 2025
Mayor of Dongnae-gu, Busan Metropolitan City
1. Type and name of the maintenance project
a. Type: Street Housing Maintenance Project
b. Project Name: Oncheon 2nd Public Apartment Area Street Housing Maintenance Project
2. Location and area of the maintenance sector
a. Area: Oncheon-dong 1370-1, Dongnae-gu, Busan
b. Area: 9,019.7㎡
3. Name and address of the project implementer
a. Implementer: Oncheon 2nd Public Apartment Area Street Housing Maintenance Project Association (Chairman Kim Yong-guk)
b. Address: 2nd Floor, 38 Yeogobuk-ro, Dongnae-gu, Busan
4. Duration of the maintenance project: Within 60 months from the date of the business implementation approval
5. Date of approval of the business implementation plan (change): June 20, 2025
6. Details of land or buildings to be acquired or used and specifications relating to rights other than ownership: None
7. Matters concerning the building plan such as land area, building coverage ratio, floor area ratio, height, and use (change)
| Category | Details | Category | Details |
| Land Area | 9,019.7㎡ | Building Area | 2,137.3468㎡ |
| Building Coverage Ratio | 23.7% | Total Floor Area | 46,242.3149㎡ |
| Floor Area Ratio | 299.16% | Maximum Height | 70.88m |
| Use | Multi-family housing and ancillary facilities | Total | 24 |
| Number of Buildings | 3 | Total Units | 271 units |
8. Housing construction plan including scale of housing
| Supply Type | Number of Buildings | Total Units | 59A | 59B | 59C | 59D | 59E | 59F | 84A | 84B | 84C | 84D |
| Total | 3 | 271 | 23 | 83 | 7 | 6 | 1 | 2 | 87 | 42 | 19 | 1 |
| Sales | 3 | 271 | 23 | 83 | 7 | 6 | 1 | 2 | 87 | 42 | 19 | 1 |
| Rental | - | - | - | - | - | - | - | - | - | - | - | - |
9. Scale and sales plan (change) of the sales or withheld units
| Target Supply | Total | 59A | 59B | 59C | 59D | 59E | 59F | 84A | 84B | 84C | 84D | Commercial (㎡) |
| Landowners | 132 | 4 | 34 | - | 6 | - | 2 | 75 | 8 | 2 | 1 | 642.11 |
| Withheld Units | 2 | - | 1 | - | - | - | - | - | - | - | - | - |
| General Sales | 86 | 12 | 31 | 5 | - | 1 | - | 6 | 21 | 10 | - | - |
| Special Supply | 51 | 7 | 17 | 2 | - | - | - | 5 | 13 | 7 | - | - |
| Rental Housing | Not applicable | - | - | - | - | - | - | - | - | - | - | - |
10. Matters concerning the attribution of maintenance infrastructure: Not applicable
11. Matters concerning the attribution of permissions, etc., 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. Attribution matters concerning permissions under Article 55 of the Special Law on the Maintenance of Vacant Houses and Small Scale Housing, etc.
12. Designation of urban planning facilities business implementer and contents of authorization for implementation plan: Not applicable
13. Changes and reasons
a. Changes in the number of cooperative sales and general sales units (no change in total units)
b. Changes in maintenance project costs (including changes in construction costs and estimates)
Classification
Announcement
Institution Classification
Gu/Gun
Institution
Dongnae-gu
Announcement/Notice Number
No. 2025-64
Title
Announcement of the Business Implementation Plan (Change) Approval for the Oncheon 2nd Public Apartment Area Street Housing Maintenance Project
Date
June 25, 2025
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Frequently Asked Questions (FAQ)
Q. What is the sale schedule for the Syangyong The Platinum Dongnae Asiad apartment?
Syangyong The Platinum Dongnae Asiad is preparing for sales approval with the goal of general sales in July 2025, and occupancy is scheduled for August 2028.
The Oncheon 2nd Public Apartment Street Housing Maintenance Project is called 'Syangyong The Platinum Dongnae Asiad' and is preparing for general sales scheduled for July 2025. Occupancy is expected to take place in about three years, in August 2028. The approval for the change in the business implementation plan was completed in June 2025, and construction is imminent, so it is expected that the sales schedule will proceed without significant disruption.
Q. What is the scale and composition of the Oncheon 2nd Public Apartment Street Housing Maintenance Project?
The project has a total land area of 9,019.7㎡, with 3 buildings from 2 basement floors to 24 floors, consisting of 271 units (232 units of 59㎡ and 39 units of 84㎡).
This project is being conducted on a site of 9,019.7㎡ located in Oncheon-dong 1370-1, Dongnae-gu, and will be constructed as 3 buildings from 2 basement floors to 24 floors. The apartments will consist of 232 units of 59㎡ and 39 units of 84㎡, totaling 271 units. The floor area ratio is set at 299.16% and the building coverage ratio at 23.7%, planned at an appropriate density. This scale is considered a suitable size for a medium to large residential complex compared to competing complexes in the area.
Q. What are the location conditions and living infrastructure of Syangyong The Platinum Dongnae Asiad?
Located near Sajik Station and Minam Station allowing access to subway lines 3 and 4, with Asiad Stadium, Oncheon Stream waterfront park, academic district, and convenient transportation network.
The apartment complex is conveniently located near subway lines 3 and 4 at Sajik Station and Minam Station, and is adjacent to Asiad Stadium and Oncheon Stream waterfront park providing a pleasant residential environment. It also boasts excellent educational conditions, with esteemed schools such as Dongnae Elementary, Dongnae Middle, and Dongnae High School densely located nearby. When using a vehicle, it allows easy access to Jungang-daero, Chungnyeol-daero, and Manduk-daero, making travel to any part of Busan possible within 20 minutes.
Q. Who is the project implementer and what is the current status of the project?
The contractor is Syangyong Construction, and after the establishment of the association in 2021, it has completed the approval for the business implementation plan and is now on the verge of starting construction.
The contractor for the Oncheon 2nd Public Apartment Street Housing Maintenance Project, selected at the general meeting of the association in 2021, is Syangyong Construction, with a construction contract valued at 68.6 billion won. The approval for the business implementation plan was obtained in March 2023, with two subsequent change approvals in 2024 and 2025, refining the project plan. It is currently at the point immediately before starting construction, and major building construction is set to begin after the general sales in July, with the project period set to be within 60 months from the approval date, aiming for completion by August 2028.
Q. What are the expected prices and market trends?
The market price for 84㎡ in the nearby e-Comfortable World Dongnae Asiad is between 670 million and 720 million won, while the new complex is expected to have a competitive price reflecting brand value and rarity.
The recent transaction prices for the representative new apartment, e-Comfortable World Dongnae Asiad's 84㎡ units, have formed between 670 million won and 720 million won. Given the similar size configuration and brand strength of Syangyong The Platinum Dongnae Asiad, the sale prices are expected to be set competitively. However, the actual pricing will depend on market trends and sales approvals, necessitating careful monitoring of future price movements from an investment perspective.