Table of Contents
Daeyeon Dongwon Vista / Daeyeon Mansion Small-scale Reconstruction Project Business Implementation Plan (Change) Approval Announcement
Dongwon Development and Dongwon Construction will carry out construction starting at 405 Daeyeon-dong, Nam-gu. This project is gaining attention for its number of households and business profitability, which can be previewed through a bird's-eye view.
The small-scale reconstruction project for Daeyeon Mansion at 405 Daeyeon-dong, Nam-gu, Busan has received approval for a change in the business implementation plan as of October 1, 2025. The project first obtained business implementation plan approval in February 2023 and passed the review of the Busan Architectural Advisory Committee in February 2024. The progress of the reconstruction project is expected to accelerate further.
Recently, adjustments to the unit floor plan, structural changes, and financing plan modifications have been made, finalizing the scale of the project. This project consists of 5 basement floors and 29 above-ground floors, with a total of 160 households to be supplied. The exclusive areas are primarily planned at 59㎡ and 84㎡, and neighborhood living facilities will also be included.
Dongwon Development, responsible for construction, has adjusted the originally contracted construction cost of approximately 49.9 billion KRW to about 58.1 billion KRW through a contract signed in January 2025. This reflects the increase in material and labor costs and aligns with the recent trend of unavoidable construction cost increases in the reconstruction market. These changes are progressing in connection with the market situation.
The project is scheduled to commence in July 2024. The recent approval announcement has laid the groundwork for strengthening the design and financing plans to prepare for the full-scale start of construction.
Through reconstruction, Daeyeon Mansion will transform into a new apartment called 'Daeyeon Dongwon Vista.' This apartment is located in the central living area of Nam-gu, and it is expected that the residential value of the area will increase due to the effect of a branded construction company. However, the impact of rising construction costs on the sales price will be a matter to watch in the future.
Announcement No. 2025-120 from Nam-gu, Busan
Approval Announcement for the Business Implementation Plan (Change) for the Daeyeon Mansion Small-scale Reconstruction Project
According to the provisions of Article 29 (Approval of Business Implementation Plan) Paragraph 1 of the Special Act on the Maintenance of Vacant Houses and Small-scale Housing, the Daeyeon Mansion small-scale reconstruction project located at 405 Daeyeon-dong, Nam-gu, Busan, which was approved by Announcement No. 2023-14 dated February 22, 2023, is announced as follows in accordance with Paragraph 5 of the same Article and Article 10, Paragraph 2, Item 1 of the Enforcement Regulations of the same Act.
October 1, 2025
Mayor of Nam-gu, Busan
1. Type and name of the project
a. Type: Small-scale Reconstruction Project
b. Name: Daeyeon Mansion Small-scale Reconstruction Maintenance Project
2. Location and area of the project implementation zone
a. Location: 405 Daeyeon-dong, Nam-gu, Busan
b. Area: 2,940㎡
3. Name and address of the project implementer
a. Implementer: Daeyeon Mansion Small-scale Reconstruction Maintenance Association
b. Address: 289 Suyeong-ro, Nam-gu, Busan (Daeyeon-dong, Daeyeon Mansion)
4. Project implementation period
: From the date of establishment of the association to the date of completion of the liquidation work pursuant to Article 41 of the Special Act on the Maintenance of Vacant Houses and Small-scale Housing
5. Date of approval for the business implementation plan (change)
: September 26, 2025
6. Reasons for change
: Changes to unit floor plans, structural changes, changes to the financing plan, etc.
7. Matters related to the building's site area, floor area ratio, height, use, etc. (change)
| Category | Content | Category | Content |
| Site Area | 2,940㎡ | Building Area | 1,101.3460㎡ |
| Coverage Ratio | 55.07% | Floor Area | 25,706.7755㎡ |
| Floor Area Ratio | 862.33% | Maximum Height | 92.18 m |
| Use | Multiplex Housing and Auxiliary Welfare Facilities, Neighborhood Living Facilities | Scale | 5 basement floors, 29 above-ground floors |
| Number of Buildings | 1 | Number of Households | 160 households |
8. Scale of Housing Construction Plan (Change)
| Supply Type | Housing Type | Number of Buildings | Number of Households | Number of Households by Housing Size (Based on Exclusive Area, ㎡) | ||||
| 59A | 59B | 84A | 84B | 84C | ||||
| 59.9041 | 59.8880 | 84.9740 | 84.8376 | 84.8873 | ||||
| Total | Multiplex Housing | 1 | 160 | 26 | 26 | 54 | 27 | 27 |
9. Scale and Sale Plan of Allocated or Reserved Land (Change)
| Supply Target | Number of Households by Housing Size (Based on Exclusive Area) | Commercial Area (㎡) | |||||
| Total | 59A | 59B | 84A | 84B | 84C | ||
| 59.9041 | 59.8880 | 84.9740 | 84.8376 | 84.8873 | |||
| Total | 160 | 26 | 26 | 54 | 27 | 27 | |
| Landowners | 56 | 1 | 0 | 52 | 1 | 2 | 388.9742 |
| Reserved Facilities | 1 | - | - | - | 1 | - | - |
| General Sale | 63 | 15 | 16 | 2 | 15 | 15 | 2,204.3009 |
| Special Supply | 40 | 10 | 10 | - | 10 | 10 | - |
| Rental | - | - | - | - | - | - | - |
10. Matters Regarding the Attribution of Maintenance Infrastructure:
No applicable matters
11. Matters on the assumption of permits and licenses under other laws
Assumed matters of permits and licenses under Article 55 of the Special Act on the Maintenance of Vacant Houses and Small-scale Housing
Classification
Announcement
Agency Classification
District
Agency
Nam-gu
Announcement Number
No. 2025-120
Title
Approval Announcement for the Business Implementation Plan (Change) for the Daeyeon Mansion Small-scale Reconstruction Project
Date
October 1, 2025
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Frequently Asked Questions (FAQ)
Q. Where is the Daeyeon Mansion small-scale reconstruction project being carried out?
It is being carried out at 405 Daeyeon-dong, Nam-gu, Busan.
The Daeyeon Mansion small-scale reconstruction project is aimed at the area around 405 Daeyeon-dong, Nam-gu, Busan. This area is located in Nam-gu, Busan, and has excellent traffic and living conditions. Through reconstruction, it is set to transform into a new apartment complex called 'Daeyeon Dongwon Vista.'
Q. What are the main changes in this reconstruction project?
Changes include adjustments to the unit floor plans, structural changes, and modifications to the financing plan.
This change in the business implementation plan includes adjustments to unit floor plans, alterations to the building structure, and revisions to the financing plan. These changes have finalized the scale of the project, allowing for more realistic designs and financial operations. The change approval was granted on September 26, 2025, and is speeding up project advancement.
Q. What is the scale and structure of the reconstruction apartments?
One building with 5 basement floors and 29 above-ground floors, supplying a total of 160 households.
The Daeyeon Mansion reconstruction apartments consist of a single building with 5 basement floors and 29 above-ground floors. A total of 160 households are expected to be supplied, with the exclusive areas primarily planned at 59㎡ and 84㎡, which will meet various housing demands. Additionally, neighborhood living facilities will be included to enhance convenience.
Q. Who is the construction company, and how much is the construction cost?
It is handled by Dongwon Development, and the construction cost has been increased to about 58.1 billion KRW.
The construction is led by Dongwon Development and Dongwon Construction. The originally contracted construction cost of approximately 49.9 billion KRW has been adjusted to about 58.1 billion KRW through a contract signed in January 2025, reflecting increases in material and labor costs. This aligns with the recent trend of rising construction costs in the reconstruction market.
Q. What is the timeline for the project and its current progress?
Scheduled to start construction in July 2024, with a change approval announcement in October 2025.
The Daeyeon Mansion reconstruction project received its first approval for the business implementation plan in February 2023, followed by passing the architectural committee’s review in February 2024. Subsequently, approval for the change in the business implementation plan was gained on September 26, 2025, and the announcement was made on October 1, 2025. The construction is scheduled to begin in July 2024, with preparations complete for full-scale construction operations.
