Table of Contents
Raemian Prestige / Transfer Notice for Oncheon 4 Redevelopment Project
- 1861 Oncheon-dong, Dongrae-gu and 752 Jangjeon-dong, Geumjeong-gu
The Oncheon 4 Redevelopment Project (Raemian Prestige) in Oncheon-dong, Dongrae-gu, and Jangjeon-dong, Geumjeong-gu, Busan, has completed its ownership transfer procedure. The area of this project reaches 221,230.6㎡, and partial completion approval is expected to be received in September 2024. This ownership transfer notice has been publicly announced as of October 22, 2025.
The construction company is Samsung C&T, and the project is named 'Oncheon 4 Redevelopment Project'. The brand name is 'Raemian Prestige'. The management division plan was first approved in 2018, and the final amendment is scheduled for September 2025.
This notice officially confirms the transfer of land and building ownership between the consortium and residents. This implies the legal effectiveness of rights such as registration transfer, mortgage loans, and sales. As a result, it is anticipated that diverse transactions can proceed smoothly in the future.
Information about Raemian Prestige Complex
| Number of Units | 4043 units (including 220 additional rental units, total of 36 buildings) | Lowest/Highest Floors | 14 floors/35 floors |
| Usage Approval Date | September 2024 | Total Parking Spaces | 4914 spaces (1.21 spaces per unit) |
| Floor Area Ratio | - | Building Coverage Ratio | - |
| Constructor | Samsung C&T Co., Ltd. | ||
| Heating | Individual heating, city gas | ||
| Management Office | - | ||
| Address | 100-13 Oncheon-dong, Dongrae-gu, Busan and 151-46 Geumgang-ro, Dongrae-gu, Busan | ||
| Area | 62㎡, 75㎡, 86A㎡, 86C㎡, 88B㎡, 88D㎡, 101D㎡, 102A㎡, 102B㎡, 102C㎡, 102E㎡, 117A㎡, 117C㎡, 117E㎡, 118B㎡, 118D㎡, 118F㎡, 127㎡, 151㎡, 168A㎡, 168B㎡, 179㎡, 184㎡, 196㎡, 198㎡ | ||
Raemian Prestige is a completed apartment complex, and the recent transaction price for the 84㎡ unit has reached 860 million won (as of September 2025). Currently, the listing prices are forming in the 900 million won range. This reflects a high market value among new brand apartments in Busan, which can be attributed to its proximity to Oncheonjang Station on Subway Line 1 and the convenience of living in the Dongrae city center. These locational characteristics are appealing to many potential buyers.
This transfer notice indicates that the redevelopment project is in its final stages. It is expected to be a turning point for stabilizing rights and activating transactions.
Oncheon 4 District Housing Redevelopment Management Project Association Notification No. 2025-1
Partial transfer notice for the Oncheon 4 Redevelopment Project
1. In accordance with Article 83 of the Urban and Residential Environment Maintenance Act, this is a public notification concerning the partial completion approval of the 'Oncheon 4 Redevelopment Project' as per Busan Metropolitan City Dongrae-gu Notice No. 2024-97 (2024.10.02) for the purpose of ownership transfer of land and buildings under Article 86 of the same law.
2. Relevant documents are available at the office of the Oncheon 4 District Housing Redevelopment Management Project Association (☎ 051-553-9476) for interested parties to review.
October 22, 2025
Oncheon 4 District Housing Redevelopment Management Project Association
1. Type and name of the redevelopment project
a. Type: Redevelopment Project
b. Name: Oncheon 4 Redevelopment Project
2. Location and area of the redevelopment zone
a. Location: 1861 Oncheon-dong and other 38 parcels in Dongrae-gu, and 752 Jangjeon-dong and other 7 parcels in Geumjeong-gu, Busan
* Previous: 100-13 Oncheon-dong and 511-2 Jangjeon-dong, Dongrae-gu, Busan
b. Area of the redevelopment zone: 221,230.6㎡
* Area of transfer notice: 221,230.6㎡, actual land area (multi-family housing): 160,638.9㎡
3. Name and address of the project implementer
a. Implementer: Oncheon 4 District Housing Redevelopment Management Project Association (Chairman Shin Gyu-cheol)
b. Address: 65, 2nd floor, Oncheonjang-ro 119-gil, Dongrae-gu, Busan (Oncheon-dong, Saemaul Geumgo)
4. Date of management plan approval: July 5, 2018 (last amended: September 19, 2025)
5. Date of partial completion approval: September 27, 2024.
6. Date of partial completion notification: October 2, 2024.
7. Contents of the transfer notification
Classification
Notification
Agency Classification
Other Agency
Agency
Oncheon 4 District Housing Redevelopment Management Project Association
Notification Number
No. 2025-1
Title
Partial Transfer Notification for Oncheon 4 Redevelopment Project
Date
October 22, 2025
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Frequently Asked Questions (FAQ)
Q. What is the location and area of the Oncheon 4 Redevelopment Project?
The Oncheon 4 Redevelopment Project is located in Oncheon-dong, Dongrae-gu, and Jangjeon-dong, Geumjeong-gu, Busan, with an area of approximately 221,230.6㎡.
The Oncheon 4 Redevelopment Project is located at 1861 Oncheon-dong and other 38 parcels, as well as 752 Jangjeon-dong and other 7 parcels in Geumjeong-gu, Busan. The total area of the project is 221,230.6㎡, with an actual land area for multi-family housing of 160,638.9㎡. This area has been designated as a broad redevelopment zone covering both Dongrae-gu and Geumjeong-gu.
Q. What does the recent transfer notice indicate?
The ownership transfer notice signifies that the rights of the consortium and residents are legally confirmed.
The partial transfer notification conducted on October 22, 2025, indicates that the ownership transfer of land and buildings between the Oncheon 4 Redevelopment Project Association and the residents is officially confirmed. This means that the rights involved in registration transfers, mortgage loans, and sales carry legal effects, playing a crucial role in the stabilization of rights and activation of transactions. Therefore, a foundation for smooth various real estate transactions has been established going forward.
Q. What is the current market price of the Raemian Prestige complex?
As of September 2025, the actual transaction price for the 84㎡ unit is approximately 860 million won, and the listing price is in the 900 million won range.
The Raemian Prestige complex ranks high among new brand apartments in Busan regarding market price. Recently traded 84㎡ units are priced at 860 million won, and current selling prices are forming in the 900 million won range. Its proximity to Oncheonjang Station on Line 1 of the subway and the abundance of living conveniences in the Dongrae city center significantly contribute to the high price formation.
Q. What is the status of the completion and management plan of the redevelopment project?
Partial completion was approved in September 2024, and the final amendment of the management plan will take place in September 2025.
Partial completion approval for the Oncheon 4 Redevelopment Project was officially granted on September 27, 2024, and the corresponding partial completion notice was issued on October 2, 2024. The management plan was first approved on July 5, 2018, and is updated regularly, with the final amendment made on September 19, 2025. The completion of these procedures indicates that the project is reaching its final stages.
Q. Who is the project implementer, and what is the contact number?
The project implementer is the Oncheon 4 District Housing Redevelopment Management Project Association, and the contact number is 051-553-9476.
The implementer of the Oncheon 4 Redevelopment Project is the Oncheon 4 District Housing Redevelopment Management Project Association, headed by Chairman Shin Gyu-cheol. The association office is located at 65, 2nd floor, Oncheonjang-ro 119-gil, Dongrae-gu, Busan (Oncheon-dong, Saemaul Geumgo). Interested parties can contact the association office at 051-553-9476 for document inquiries and reviews, allowing stakeholders to confirm necessary information directly.
