Table of Contents
Sky Town The Ocean / Small-Scale Reconstruction Maintenance Project Approval in Namcheon-dong Hwamik Town
The Hwamik Apartment located at 47-1 Namcheon-dong, Suyeong-gu, is undergoing a reconstruction project.
Currently, the district map and feasibility analysis are being conducted, and expectations for future development potential are increasing.
It is important to closely observe the development situation in this area.
The small-scale reconstruction maintenance project of Hwamik Town in Namcheon-dong has officially begun as it received business implementation plan approval on November 20, 2025. This project received approval for union establishment in 2021 and a minor change approval in 2024 before reaching final approval, characterized by its rapid progress.
The maintenance district located at 47-1 Namcheon-dong, Suyeong-gu, Busan has an area of approximately 49,938㎡. This project plans to supply a total of 275 households in two apartment buildings, consisting of 4 basement floors and 33 above-ground floors.
The exclusive area per household varies from 59㎡, 75㎡, to 84㎡, but is characterized by a structure focused on 59㎡ to 84㎡ designed for real demand, without mid or large-sized units. Notably, the 84㎡ type accounts for 151 households, which represents 54.9% of the total, indicating a significant impact on family-oriented demand.
The construction company for this project is Kolon Global, which was designated under the brand name ‘Sky Town The Ocean’ in January 2022. The initial plan included 289 households and a maximum height of 34 floors, but recent announcements have modified the figures to 275 households and 33 floors after going through the maintenance standards and review processes. Kolon Global achieves high contracting performance every year and secures both stability and marketability for the project through the 'Sky Town' brand.
According to the architectural plan, the building coverage ratio is set at 28.98%, and the floor area ratio at 472.67%. The maximum height will be 94.9m, evaluated as a case of high profitability even for a small-scale reconstruction project due to the high floor area ratio applied.
The total floor area of this project is 49,938㎡, and the formation of a new complex to replace aging apartments is expected to accelerate. This is projected to positively impact local development.
This approval allows the project to be carried out for five years from the date of approval, during which the related laws such as the Housing Act and Building Act will be streamlined. The project executor is the Hwamik Town Small-Scale Reconstruction Maintenance Project Association, and the relevant documents are available at the association's office and the District Office's building department.
Namcheon-dong is considered an excellent location due to its proximity to Gwangalli and well-equipped living convenience facilities. Considering the surrounding apartment prices, it is noteworthy that the new complex will likely have high competitiveness upon completion. The approval of this business implementation plan paves the way for the essential steps such as construction and management disposition approval and sales procedures, marking a crucial turning point for future development. Therefore, the future of Namcheon-dong is highly anticipated.
Announcement No. 2025-124 of Busan Metropolitan City Suyeong-gu
Approval of Business Implementation Plan for the Small-Scale Reconstruction Maintenance Project of Hwamik Town
On September 1, 2021, the approval for the establishment of the association at 47-1 Namcheon-dong, Suyeong-gu, Busan was received, and the minor change approval for the association was announced in the public notice No. 2024-85 (September 25, 2024). Regarding the “small-scale reconstruction maintenance zone of Hwamik Town,” pursuant to Article 29 of the Special Act on the Maintenance of Vacant Houses and Small-Sized Housing, the business implementation plan is approved, and it is announced as follows according to Article 10 of the Enforcement Rules of the same law.
November 26, 2025
Mayor of Suyeong-gu, Busan
1. Type and name of the maintenance project
: Small-Scale Reconstruction Maintenance Project of Hwamik Town
2. Location of the maintenance district
: 47-1 Namcheon-dong, Suyeong-gu, Busan
3. Area of the maintenance district
: 49,938.0703㎡
4. Name and address of the project executor
a. Name : Small-Scale Reconstruction Maintenance Project Association of Hwamik Town (Chairman Lee Chwi-ho)
b. Address : 33-3 Namcheon-dong, Suyeong-gu, Busan, 2nd Floor, 6 Namcheonbada-ro (Namcheon-dong)
5. Duration of the maintenance project
: 60 months from the date of business implementation plan approval
6. Date of business implementation plan approval
: November 20, 2025
7. Description of land or buildings to be acquired or used and specifications of rights other than ownership
: Not applicable
8. Matters regarding the architectural plans, such as site area, building coverage ratio, floor area ratio, height, purpose, etc.
| Category | Details | Category | Details |
| Site Area | 6,682㎡ | Building Area | 1,936.2486㎡ |
| Building Coverage Ratio | 28.98% | Total Floor Area | 49,938.0703㎡ |
| Floor Area Ratio | 472.67% | Maximum Height | 94.9m |
| Primary Purpose | Residential (Apartment) and Auxiliary Facilities | Number of Floors | Apartment (4 basement, 33 above-ground floors) |
| Number of Buildings | 2 Apartment Buildings | Number of Households | 275 Households |
9. Details of housing scale and housing construction plan
| Type of Supply | Residential (Apartment) | |||
| Type | Exclusive Area (㎡) | Number of Households | Proportion | |
| Apartment | 59 | 59.9861 | 60 | 21.8% |
| 75 | 75.9822 | 64 | 23.3% | |
| 84A | 84.9862 | 88 | 32.0% | |
| 84B | 84.9205 | 63 | 22.9% | |
| Subtotal | - | 275 | 100% | |
| Note | ||||
10. Relevant provisions under other laws
a. Approval of the business plan under Article 15 of the Housing Act
b. Building permit under Article 11 of the Building Act
c. Provisions of the Special Act on the Maintenance of Vacant Houses and Small-Sized Housing regarding permitting and licensing (if related documents designated by relevant laws are submitted)
11. Other related documents are kept and available at the Building Department of Suyeong-gu Office (☎051-610-4665) and the association’s office (☎051-626-9590). End.
Classification
Notice
Agency Classification
District
Agency
Suyeong-gu
Notice Number
No. 2025-124
Title
Approval of Business Implementation Plan for the Small-Scale Reconstruction Maintenance Project of Hwamik Town
Date
November 26, 2025
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Frequently Asked Questions (FAQ)
Q. What is the small-scale reconstruction maintenance project of Hwamik Town in Namcheon-dong?
The small-scale reconstruction maintenance project of Hwamik Town in Namcheon-dong is a housing development project in Suyeong-gu, Busan, to reconstruct the aging Hwamik apartments.
This project aims to replace the old Hwamik apartment complex located in Namcheon-dong, Suyeong-gu, Busan, with a new apartment complex. It received approval for the establishment of the association in 2021 and underwent a minor change approval in 2024, reaching final business implementation plan approval on November 20, 2025. The plan includes the construction of two apartment buildings with 275 households total, consisting of 4 basement floors and 33 above-ground floors, aimed at improving the local residential environment by replacing aging housing.
Q. What is the size and household composition of the Namcheon Sky Town The Ocean apartment?
Namcheon Sky Town The Ocean consists of 33 above-ground floors, 2 buildings, and a total of 275 households, with unit sizes ranging from 59㎡ to 84㎡ targeted for real demand.
This apartment is being developed at 47-1 Namcheon-dong, Suyeong-gu, Busan, consisting of two buildings with 4 basement floors and 33 above-ground floors. It is planned for a total of 275 households, with unit sizes of 59㎡, 75㎡, and 84㎡. Notably, the 84㎡ type comprises 151 households (approximately 54.9% of the total), focusing on family-oriented residents' demands. There are no mid or large-sized units, emphasizing the creation of a comfortable living environment tailored to real demand.
Q. Who is the construction company for this reconstruction project and what are its characteristics?
The construction company is Kolon Global, which has been designated under the brand name ‘Namcheon Sky Town The Ocean’ since 2022.
Kolon Global is the construction company for this Hwamik Town small-scale reconstruction project, designated in January 2022 under the brand name ‘Namcheon Sky Town The Ocean’. The preliminary plan was for 289 households and a height of 34 floors, but after reviews and announcements, it was modified to 275 households and 33 floors. Kolon Global consistently records high contracting performance in the domestic market annually, and it enhances competitiveness for new apartments in the region through the stability and superior quality secured by the Sky Town brand.
Q. What does the business implementation plan approval mean, and what are the subsequent procedures?
Following the business implementation plan approval, the project will proceed for five years before moving on to major procedures such as construction, management disposition approval, and sales.
The business implementation plan approval is an official procedure for promoting the maintenance project, which was granted on November 20, 2025. The project will progress for five years from the date of approval, during which the approval processes for laws such as the Housing Act and Building Act will be simplified. It will then transition to phases of construction, management disposition approval, and sales, with expectations to positively impact local development. Related documents can be checked at the Building Department of Suyeong-gu Office and the association office.
Q. What are the locational advantages of the Hwamik Town reconstruction project in Namcheon-dong?
It is located near Gwangalli, offering great convenience, with high competitiveness as a new complex compared to surrounding prices.
Namcheon-dong is close to Gwangalli and is well-equipped with various convenience facilities. It has high residential satisfaction due to accessible transportation and convenience facilities, connecting to nearby subway stations including Geumgyeongsan Station. Given the surrounding prices of existing apartments, the new complex is expected to have high competitiveness upon completion. Thus, this area's reconstruction project is noted by both end-users and investors, enhancing future development possibilities.
