Table of Contents
Redevelopment of Jaesong Green (Siyoung 83) Apartments / Announcement of Maintenance Plan Decision and Designation of Maintenance Area in Jaesong 5 District
- Investment in early redevelopment in Haeundae, 1146-1, Jaesong-dong
The redevelopment project of Jaesong 5 District, namely the redevelopment of Jaesong Green and Siyoung 83 Apartments, has entered a significant stage. Recently, announcements for the maintenance plan decision and maintenance area designation have been made, accelerating the project. This announcement comes eight months after the public consultation and briefing notice issued in March 2025.
The maintenance area has been set at 31,948㎡, with 26,267.5㎡ designated for apartment use and 5,680.5㎡ for maintenance infrastructure. The zoning has mostly changed from the existing general residential area type 2 to type 3.
Additionally, an architectural plan centered on multi-family housing and supporting welfare facilities has been established, with a floor area ratio of 240% or less, a building coverage ratio of 50% or less, and a maximum building height of 90m or less. This plan is expected to contribute to the area's development and improvement of the residential environment.
According to the maintenance plan, the current number of households is 567, and under the new plan, the number is expected to increase to 678, representing an increase of approximately 111 households (19.5%). The total planned households consist of national housing sizes (with exclusive areas of 85㎡ or less), making reoccupation conditions favorable for the members. However, due to the characteristics of small apartment redevelopment, the increase in households is low, making it difficult to expect clear profit structures in terms of project viability.
The proportional rate is reported to be 100.61%. Considering the recent conditions of the local redevelopment and regeneration market, it seems unlikely that this rate will increase further. These factors are expected to have significant effects on the future progress of the project.
The maintenance plan includes the establishment of a small park (347.9㎡) and the construction of five new roadlines. All 30 existing buildings will be demolished and redeveloped into multi-family houses. Notably, by providing public facilities and securing public spaces, a maximum relaxation of the floor area ratio by 40% is remarkable.
Jaesong 2-dong, where the Jaesong 5 District is located, is the administrative center for courts and prosecutors in the eastern part of Busan, home to the Eastern Branch of the Busan District Prosecutors' Office and the Eastern District Court. This area has a stable demand for legal personnel and related professions.
This area has generally been aging and has been located on steep terrain, which has resulted in low residential preference for a long time. Due to these characteristics, it has not attracted much interest for large-scale redevelopment projects until now, but if redevelopment and regeneration are actively carried out, there is a high possibility that the value of the area will be re-evaluated. Consequently, it is garnering a lot of attention.
Announcement No. 2025-445 of the Busan Metropolitan City
Modification of the Basic Urban and Residential Environment Maintenance Plan of Busan 2030,
Announcement of Maintenance Plan Decision and Designation of Maintenance Area for Jaesong 5 Redevelopment Project
1. The modification announced in the notice No. 2024-491 (2025.01.01.) regarding the “Modification of the Basic Urban and Residential Environment Maintenance Plan of Busan 2030” is hereby announced as follows according to Article 7, Paragraph 3 of the Urban and Residential Environment Maintenance Act.
2. The maintenance area for the Jaesong 5 redevelopment project in 1146-1, Jaesong-dong, Haeundae-gu, Busan is announced in accordance with Article 16 of the Urban and Residential Environment Maintenance Act, along with the terrain plan in compliance with Article 8 of the Basic Land Use Regulation Act and the Enforcement Ordinance thereof.
3. Related documents (land connection “http://www.eum.go.kr” available for viewing) are kept at the Urban Maintenance Division of the Busan Metropolitan City (☏ 051-888-4242) and the Architectural Division of Haeundae District (☏ 051-749-4614) for public viewing.
November 19, 2025
Mayor of Busan
I. Modification of the Basic Urban and Residential Environment Maintenance Plan of Busan 2030
1. Reason for modification
○ The scope of the planned maintenance area for Jaesong 5 redevelopment according to the “Basic Urban and Residential Environment Maintenance Plan of Busan 2030” has been changed considering surrounding conditions, linkage with urban management plans, and the normalization of district boundaries.
2. Modification details
| Designation Type | No. | Area Name | Area (hectares) | Location | Land Use Plan | Project Implementation Stage | Timing of Maintenance Plan Establishment | Stage-by-Stage Plan | Remarks |
| Previous | 274 | Jaesong-5 Redevelopment | 30.4 | Area of 1146, Jaesong 2-dong (Jaesong Green) | Residential Management | Formation of a Promotion Committee | 2012 | Phase 2 | Area Change (Increase of 1.5 hectares) |
| Change | 31.9 |
Ⅱ. Designation of Maintenance Area and Decision on Maintenance Plan
1. Designation of Maintenance Area for Redevelopment Project
| Designation Type | Type of Project | Name of Area | Location | Area (㎡) | Remarks |
| New | Redevelopment Project | Maintenance Area for Jaesong 5 Redevelopment | Area of 1146-1, Jaesong-dong, Haeundae-gu | 31,948.0 |
2. Redevelopment Project Maintenance Plan
○ Plan for Land Use
| Type | Name | Area (㎡) | Ratio (%) | Remarks | |
| Residential and Maintenance Infrastructure (Urban Planning Facilities) | Total | 31,948.0 | 100.0 | ||
| Land | 26,267.5 | 82.2 | |||
| Multi-family Residential Area | 26,267.5 | 82.2 | ⦁Multi-family housing and supporting welfare facilities | ||
| Maintenance Infrastructure (Urban Planning Facilities) | 5,680.5 | 17.8 | |||
| Park | 347.9 | 1.1 | |||
| Road | 5,332.6 | 16.7 | |||
○ Plan for Zoning Change
| Type | Area (㎡) | Composition Ratio (%) | Remarks | |||
| Current | Change | After Change | ||||
| Total | 31,948.0 | - | 31,948.0 | 100.0 | ||
| Residential Area | General Residential Area Type 2 | 31,948.0 | Decrease)30,438.0 | 1,510.0 | - | |
| General Residential Area Type 3 | - | Increase)30,438.0 | 30,438.0 | 100.0 | ||
■ Justification for Zoning Change
| Map Display Number | Location | Zoning | Area (㎡) | Justification for Change | |
| Current | Change | ||||
| - | Area of 1146, Jaesong 2-dong | General Residential Area Type 2 | General Residential Area Type 3 | 30,438.0 | ⦁ Change for the construction of multi-family housing due to redevelopment project |
○ Estimated Share of Costs and Calculation Basis by Land Owners
| (Unit: Thousand Won) | ||||
| Estimated Share | Estimated Total Revenue | Estimated Total Project Cost | Estimated Sum of Original Assets | Estimated Proportional Rate |
| 314,409,323 thousand won | 229,064,551 thousand won | 84,830,000 thousand won | 100.61% | |
| Calculation Basis | ∙ Estimated Sum of Original Assets = Sum of estimated original assets by land ownership∙ Estimated Proportional Rate = (Estimated Total Revenue - Estimated Total Project Cost)/Estimated Sum of Original Assets∙ Estimated Share of Costs by Land Owners = Membership sale price - Rights value | |||
※ The estimated sum of original assets and the calculation of individual shares may change depending on future management and disposal plans.
(Details on estimated share amounts and calculation basis are omitted)
○ Plans regarding primary use, building coverage ratio, floor area ratio, and height of buildings
| Category | Area Classification | Lot Classification | Location | Primary Use | Building Coverage Ratio | Floor Area Ratio | Height | Remarks | ||
| Name | Area (㎡) | Name | Area (㎡) | |||||||
| New | Maintenance Area for Jaesong 5 Redevelopment Project | 31,948.0 | I-1 | 13,263.2 | Area of 1146-1, Jaesong-dong | Multi-family housing and supporting welfare facilities | 50% or less | 240% or less | 90m or less | |
| II-1 | 13,004.3 | Area of 1155-3, Jaesong-dong | Multi-family housing and supporting welfare facilities | 50% or less | 240% or less | 90m or less | ||||
| Housing Scale and Construction Ratio by Scale | ∙Construction Ratio by Housing Size: Not Applicable∙Rental Housing Construction Ratio: Not Applicable | |||||||||
| Application of Floor Area Ratio Relaxation Criteria | ∙Application of floor area ratio relaxation criteria according to the “Basic Urban and Residential Environment Maintenance Plan of Busan 2030”∙Standard Floor Area Ratio: 200% (not applying design innovation for landscape management)∙Floor Area Ratio Relaxation: 47.1% (maximum 40% application)-Providing public facilities: 9.3%-Securing public open space: 4.2%-Siyoung Apartments: 16.6%-Local Economic Activation Incentive: 17.0%→ 12% (minimum 20% participation of local companies in single or joint bidding)→ 5% (minimum 50% participation of regional companies in design)∙Allowed Floor Area Ratio: 200% + 40% = 240.0%∙Planned Floor Area Ratio: 240.0% or less (exempt from local economic activation incentives if local construction companies do not participate) | |||||||||
| Plans regarding the Building Setback Line | ∙In accordance with Article 39-2 of the Construction Ordinance of Busan Metropolitan City | |||||||||
Classification
Notice
Agency Classification
City
Agency
Busan Metropolitan City
Notice Number
No. 2025-445
Title
Modification of the Basic Urban and Residential Environment Maintenance Plan of Busan 2030, Announcement of Maintenance Plan Decision and Designation of Maintenance Area for Jaesong 5 Redevelopment Project
Date
November 19, 2025
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Frequently Asked Questions (FAQ)
Q. What is the location and scope of the Jaesong 5 District redevelopment project?
The Jaesong 5 District redevelopment project is taking place in the area of 1146-1, Jaesong-dong, Haeundae-gu, Busan, covering 31,948㎡.
The Jaesong 5 District redevelopment project includes the area of 1146-1, Jaesong-dong, Haeundae-gu, Busan, with a total area of 31,948㎡. Out of this, 26,267.5㎡ is allocated for multi-family housing and 5,680.5㎡ for maintenance infrastructure. This area is designated as an investment site for early redevelopment in Haeundae, and the project is being accelerated.
Q. How have the maintenance plan and construction restrictions been set for Jaesong 5 District?
Floor area ratio is planned to be below 240%, building coverage ratio below 50%, and maximum building height below 90m.
The maintenance plan for Jaesong 5 District is established focusing on multi-family housing and supporting facilities. The floor area ratio is restricted to a maximum of 240%, the building coverage ratio is limited to within 50%, and the maximum height of buildings is stipulated to be below 90m, to contribute to regional development and the improvement of the residential environment. These limitations are designed to suit local characteristics and urban planning.
Q. What is the outlook for changes in the number of households and project viability after redevelopment?
There is an expected increase from the current 567 households to 678 households, representing an increase of about 19.5%, but project viability is limited.
Currently, the Jaesong 5 District has 567 households, and it is expected to increase to 678 households after redevelopment, adding approximately 111 households. The total planned households are designed to meet national housing standards to consider reoccupancy for members. However, due to the low household increase rate, the profit structure is not substantial, and the proportional rate is around 100.61%, reflecting the current local redevelopment market conditions, making it challenging to expect significant returns.
Q. What new infrastructure will be developed in Jaesong 5 District?
A new small park and five new road lines will improve the infrastructure.
The maintenance plan for Jaesong 5 District includes the establishment of a small park with an area of 347.9㎡ and the development of five new road lines. The existing 30 old buildings will be demolished and redeveloped into multi-family houses, providing public facilities and securing public open space, which will also apply a relaxation of the floor area ratio (up to 40%). Thus, a significant improvement in living environment and infrastructure in the area is anticipated.
Q. What are the characteristics and living area of the locality where the Jaesong 5 District redevelopment project is located?
It is located in Jaesong 2-dong, a judicial and prosecutorial administrative center in the eastern part of Haeundae.
Jaesong 5 District is situated in Jaesong 2-dong, which is the administrative center for courts and prosecutors in the eastern Busan region, housing the Eastern Branch of the Busan District Prosecutors' Office and the Eastern District Court, where stable demand exists for legal professionals and related occupations. Currently, it is an aging area with steep terrain that has seen low residential preference; however, as redevelopment and regeneration take place, there is an expectation for a reevaluation of the area's value, attracting many interests.
