Table of Contents
Ju-rae Daesung, Dong-il Apartment Reconstruction / Ju-re 2 Reconstruction Project Maintenance Plan Decision and Maintenance Area Designation Announcement
- Sasang-gu, Ju-rae-dong 316 Area, Location, Sector Map, Project Viability, Location Analysis
The 'Ju-re 2 Reconstruction Project' being held at Ju-rae Daesung and Dong-il Apartments located at 316 Ju-rae-dong, Sasang-gu, Busan has been designated as a maintenance area along with the decision of the maintenance plan. This designation was made 9 months after the residents' briefing and public consultation held in January 2025, marking the beginning of the project.
According to the recently announced notification, the total area of the maintenance zone is 29,453.5m², and the project type is identified as a reconstruction project. The area is all classified as a Type 3 general residential area, and the planned floor area ratio has been set at less than 299%.
Moreover, the building coverage ratio is set at less than 50%, and the height of the building is regulated not to exceed 105m. The land for the multi-family housing will occupy 27,145m², which corresponds to 92.2% of the total area, while infrastructure such as roads constitutes 2,308m², or 7.8%.
The total investment cost of this project amounts to approximately 107.1 billion won, with expected total revenue estimated at 348 billion won. The proportion rate is set at 100.2%, and the existing 696 households are planned to be newly constructed into a 793-unit apartment complex after demolition. While the number of households may increase by about 14%, there is a possibility that the actual profitability may decline due to rising construction costs.
The location conditions of Ju-rae-dong are positioned north of the Gyeongbu Line railway, slightly lacking connectivity with Gaya-daero, Urban Railway Line 2, and Western Busan BRT. However, being adjacent to Baekyang-daero and in close proximity to Sasang-gu Office and Western Busan IC, vehicular accessibility is relatively good.
Looking at the market price near Ju-rae Lotte Castle Gold Smart (completed in 2020), the actual transaction price for a dedicated 84m² appears to be between 570 million won and 630 million won (as of September 2025, Ministry of Land, Infrastructure and Transport real transaction price disclosure system).
Once the newly constructed branded complex after reconstruction is completed, it is highly likely that a new apartment market will be formed within a similar price range.
This announcement includes plans to widen the streets and main roads, abolish the pedestrian-only road, and establish a new public walkway. In particular, the newly created public walkway is designed to be open 24 hours, with the Mayor of Sasang-gu registering as the landowner to ensure permanent public usage.
The Ju-re 2 Reconstruction Project aims to implement the project within 4 years after the designation announcement of the maintenance area. Following this, the processes of establishing the association and selecting the construction company will take place. With the maintenance of the aging Ju-rae Daesung and Dong-il Apartment areas, it is expected to transform the residential area of Sasang into a new landmark complex.
Busan Metropolitan City Announcement No. 2025-395
Announcement of the Maintenance Plan Decision and Maintenance Area Designation for the Ju-re 2 Reconstruction Project
1. Regarding the maintenance area of the Ju-re 2 Reconstruction Project in 316 Ju-rae-dong, Sasang-gu, Busan, the maintenance plan decision and maintenance area are designated as follows in accordance with Article 16 of the Urban and Residential Environment Maintenance Act, and a topographic map is announced according to Article 8 and Article 7 of the same law's enforcement regulations.
2. Related documents (land connection "
http://eum.go.kr
” available for viewing) are kept at the Urban Improvement Division of Busan Metropolitan City (☏051-888-4244) and the Architecture Division of Sasang-gu (☏051-310-4492) for public viewing (interested parties).
October 22, 2025
Mayor of Busan Metropolitan City
Ⅰ. Designation of Maintenance Area and Decision of Maintenance Plan
1. Designation Approval Document
| Designation Type | Type of Business | Zone Name | Location | Area (㎡) | Remarks |
| New | Reconstruction Project | Ju-re 2 Reconstruction Project Maintenance Area | Area of 316 Ju-rae-dong, Sasang-gu | 29,453.5 | - |
2. Reconstruction Maintenance Plan
○ Land Use Plan
| Classification | Name | Area (㎡) | Ratio (%) | Remarks | |
| Housing and Maintenance Infrastructure (Urban Planning Facilities) | Total | 29,453.5 | 100.0 | - | |
| Land | Subtotal | 27,145.5 | 92.2 | - | |
| Multi-family Housing | 27,145.5 | 92.2 | - | ||
| Maintenance Infrastructure etc. | Subtotal | 2,308.0 | 7.8 | - | |
| Road | 2,308.0 | 7.8 | - | ||
○ Plans for Changes in Land Use (No Changes)
| Classification | Area (㎡) | Ratio (%) | Remarks | |||
| Current | Change | After Change | ||||
| Total | 29,453.5 | - | 29,453.5 | 100.0 | - | |
| Residential Area | Type 3 General Residential Area | 29,453.5 | - | 29,453.5 | 100.0 | - |
○ Estimates of Assessment Amounts and Bases by Ownership
| Estimated Amount | Estimated Total Income | Estimated Total Project Cost | Estimated Total of Existing Assets | Estimated Proportion Rate |
| 455.39 billion won | 348.09 billion won | 107.14 billion won | 100.2% | |
| Basis of Calculation | ⦁Estimated total of existing assets = Sum of estimated existing assets by owners ⦁Estimated proportion rate = (Estimated total income – Estimated total project cost) / Estimated total of existing assets ⦁Estimated share by owners = Member sale price - Right value | |||
The expected amount of existing assets and individual share amounts may vary depending on the future management disposition plan.
In addition, detailed plans for the main purpose of the buildings, coverage ratio, floor area ratio, and height are required.
| Decision Type | Zone Division | Land Division | Location | Main Purpose | Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) | ||
| Name | Area (㎡) | Name | Area (㎡) | ||||||
| New | Ju-re 2 Reconstruction Project Maintenance Area | 29,453.5 | I-1 | 27,145.5 | Area of 316 Ju-rae-dong | Multi-family Housing | 50 or less | 299 or less | 105 or less |
| Housing Scale and Construction Ratio by Scale | ◦Not applicable | ||||||||
| Matters Related to Construction of Rental Housing | ◦Not applicable | ||||||||
| Application of Floor Area Ratio Relaxation Criteria | ◦Application of floor area ratio relaxation criteria according to the Basic Plan for Urban and Residential Environment Improvement of Busan Metropolitan City - Standard floor area ratio: 269% (260% (Development Induction) + 9% (Special Maintenance Area)) - Incentives for providing public facility land: 25.9% (maximum 20%) - Incentive for revitalizing local economy (participation of local design firms): 5% - Sustainable multi-family housing (multi-family housing that is easy to remodel): 5% - Allowed floor area ratio: 269% + 20% + 5% + 5% = 299.0% - Planned floor area ratio: less than 299.0% | ||||||||
| Plans Regarding Building Lines of Structures | ◦According to Article 39-2 of the Busan City Building Ordinance | ||||||||
Classification
Announcement
Institution Classification
City
Institution
Busan Metropolitan City
Announcement No.
No. 2025-395
Title
Announcement of the Maintenance Plan Decision and Maintenance Area Designation for the Ju-re 2 Reconstruction Project
Date
October 22, 2025
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Frequently Asked Questions (FAQ)
Q. What is the Ju-re 2 Reconstruction Project?
It is a reconstruction project targeting Ju-rae Daesung and Dong-il Apartments located at 316 Ju-rae-dong, Sasang-gu, Busan.
The Ju-re 2 Reconstruction Project is an urban improvement project to reconstruct the Ju-rae Daesung and Dong-il Apartments located at 316 Ju-rae-dong, Sasang-gu, Busan. The project plans to demolish the existing aging apartment complex and reconstitute it into a new multi-family housing complex with a scale of 793 households, following the decision of the maintenance plan and designation of the maintenance area announced by Busan City in October 2025. It aims to improve the deteriorating residential environment and transform it into a new landmark.
Q. What are the main planning details in the Ju-re 2 Reconstruction Project zone?
Total area of 29,453.5㎡, floor area ratio less than 299%, coverage ratio less than 50%, and building height less than 105m.
The maintenance area of the Ju-re 2 Reconstruction Project is designated as a Type 3 general residential area, with a total area of approximately 29,453.5㎡. The planned floor area ratio is less than 299%, the coverage ratio is less than 50%, and the height of the building is regulated not to exceed 105m. The land for multi-family housing will constitute 92.2% of the total area, and infrastructure and roads will occupy 7.8% of 2,308㎡. Through such plans, improvements to the residential environment and maintenance of urban infrastructure are expected to be made.
Q. How will the number of households and project viability change after reconstruction?
An increase from the existing 696 households to 793 households, a 14% increase, but profitability may decline due to rising construction costs.
After the Ju-re 2 Reconstruction Project, the apartment complex is expected to increase from the existing 696 households to 793 households, approximately a 14% increase. The total investment is estimated to be around 107.1 billion won, with expected revenue estimated at 348 billion won, and the proportion rate set at 100.2%. However, due to the recent increase in construction costs, the actual profitability may decrease. This project is aimed at long-term improvement of the residential environment and increase in asset value, but it requires caution regarding profitability changes due to factors affecting costs.
Q. What are the location characteristics of the Ju-rae-dong reconstruction area?
Located north of the Gyeongbu Line railway and adjacent to Baekyang-daero, vehicular accessibility is good.
The reconstruction area of 316 Ju-rae-dong is located north of the Gyeongbu Line railway, slightly lacking connectivity to Gaya-daero, Line 2 of the urban subway, and Western Busan BRT, however, its proximity to Baekyang-daero and close distance to Sasang-gu Office and the Western Busan IC provides relatively good vehicular accessibility. These location characteristics are expected to enhance the convenience of residents’ lives and positively impact the value of the residential area after reconstruction.
Q. What are the plans for the creation of public walkways in this reconstruction project?
The pedestrian-only road will be abolished, and a 24-hour open public walkway will be newly created.
The announcement of the Ju-re 2 Reconstruction Project includes plans to abolish the existing pedestrian-only road and widen the main and secondary roads. In particular, the newly established public walkway will be open 24 hours, and the Mayor of Sasang-gu will register the landowner, allowing for permanent public access. This is expected to enhance the walking convenience and create a safer urban environment for local residents.
