Table of Contents
Notice of Designation of Project Management Agent for the Seongam Apartment Small-scale Reconstruction Project
The ePureun Sesame Seomyeon Park Maison, located at 80-8, Buam-dong, Busanjin-gu, is currently in progress.
The project site is noted for its excellent accessibility and high market potential.
It is expected to have a positive impact on the local real estate market.
The small-scale reconstruction project of Seongam Apartment in Buam-dong, Busanjin-gu has regained momentum with the designation of a project management agent. The Busanjin-gu has officially announced Coramco Asset Trust Co., Ltd. as the project management agent for the reconstruction project of Seongam Apartment located at 80-8, Buam-dong.
The Seongam Apartment, built in 1976, is an old 5-story apartment complex with currently 130 households residing. This apartment is expected to transform into a new appearance through small-scale reconstruction.
According to the plan, it will have a structure from 6 basement floors to 34 above ground floors, providing a total of 344 households across three buildings. Among them, 288 households will be apartments, and the remaining 56 households will be officetels.
Specifically, a total of 142 units will be for general sale, with various housing types including 128 units of 59㎡, 32 units of 74㎡, and 128 units of 84㎡ type. It is expected to make a significant contribution to improving the local residential environment.
The location is very advantageous. It is close to Busan Citizen Park, allowing a view of the park to the east, providing a pleasant environment for daily walks.
Furthermore, it is very convenient for transportation as it can be accessed on foot to both Donghae Line and Bujeon Station of Busan Metro Line 1. Essential residential conveniences such as Busanjin-gu Office, EMart Traders, and Lotte Mart are close by, greatly assisting residents' daily lives.
The educational environment is also excellent, with nearby schools including Buam Elementary School, Seongji Elementary School, Busanjin Middle School, and Seomyeon Middle School, indicating a good school district.
This project selected DL E&C as the construction company in December 2020, and the project name has been decided as 'ePureun Sesame Seomyeon Park Maison.' The project implementation plan approval was announced on June 9, 2023, and due to the nature of small-scale reconstruction, it will proceed simultaneously with the project implementation plan approval without management disposal plan approval.
In the past two years, the project progress has been delayed, resulting in the trust company being designated as the project management agent. Thus, subsequent procedures such as relocation, demolition, and sale will proceed through the trust method. The project management agent will be responsible for overall project cost management, permits, and sales operations.
The commencement date for the project management is set for December 10, 2025, with construction expected to start in December of the same year. Completion is planned for November 2030, thus attracting attention to the future progress of the project.
The small-scale maintenance project is characterized by a simpler procedure, allowing for faster progress than typical reconstruction or redevelopment. With the designation of the project management agent, the administrative and financial management systems have been established, preparing the Seongam Apartment's small-scale reconstruction project to move into the substantial stages of relocation, demolition, and sale.
Notice No. 2025-196 from Busanjin-gu, Busan Metropolitan City
Notice of Designation of Project Management Agent for the Seongam Apartment Small-scale Reconstruction Project
In accordance with Article 56 of the "Special Act on Empty House and Small-scale Housing Maintenance" and Article 28 of the "Urban and Residential Environment Maintenance Act," the project management agent for the small-scale reconstruction project of Seongam Apartment at 80-8, Buam-dong, Busanjin-gu, Busan Metropolitan City is hereby designated and announced.
December 17, 2025
Mayor of Busanjin-gu, Busan Metropolitan City
1. Type and Name of Maintenance Project
○ Type: Small-scale Reconstruction Project
○ Name: Seongam Apartment Small-scale Reconstruction Project
2. Name and Address of the Project Implementer
○ Corporation Name: Seongam Apartment Housing Reconstruction Maintenance Project Association
○ Representative’s Name and Address: (38, Citizens' Park Road 19-gil, Busanjin-gu, Busan, 406, Da-dong, Seongam Apartment)
○ Location of the Principal Office: 38, Citizens' Park Road 19-gil, Busanjin-gu, Busan, 208, Ga-dong (Buam-dong)
3. Location and Area of the Maintenance Zone
○ Location: 80-8, Buam-dong, Busanjin-gu, Busan
○ Area: 4,665㎡
4. Scheduled Start and Completion Dates of the Project
○ Expected Start Date: December 2025
○ Expected Completion Date: November 2030
5. Date of Decision to Commence Project Management
: December 10, 2025
6. Project Management Agent
○ Project Management Agent: Coramco Asset Trust Co., Ltd. (CEO: Lee Chung-seong)
○ Address: 511, Samsung-ro, Gangnam-gu, Seoul, 4th Floor (Samseong-dong, Icon Samsung)
7. Responsibilities of the Project Management Agent
○ Contracting with the project implementer (association and landowners) for the trust on the land for the maintenance project and its management
○ Assistance with governmental permits related to architectural plans, including project implementation and modification approvals
○ As the contractor under the construction contract, supporting administrative tasks, overseeing construction, and executing trust services
○ Handling sales tasks and managing funds such as sale proceeds
○ Supporting borrowing of funds and managing the execution of borrowed trust funds
○ Management and execution of project costs (payment for construction, etc.)
○ Assisting in establishing and modifying the management disposal plan for the project association
○ Other tasks in accordance with the Urban and Residential Environment Maintenance Act, from the day following the announcement of the project management designation until the day of the announcement of project management completion as set within the scope of the small-scale housing maintenance law, urban maintenance law, enforcement decree of the law, trust contract, and this contract.
Classification
Announcement
Agency Division
District
Agency
Busanjin-gu
Announcement Number
No. 2025-196
Title
Notice of Designation of Project Management Agent for the Seongam Apartment Small-scale Reconstruction Project
Date
December 17, 2025
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Frequently Asked Questions (FAQ)
Q. What are the location and basic information of the Seongam Apartment Small-scale Reconstruction Project?
Seongam Apartment is located at 80-8, Buam-dong, Busanjin-gu, and is a 5-story old apartment built in 1976, currently housing 130 households.
The Seongam Apartment Small-scale Reconstruction Project is underway at 80-8, Buam-dong, Busanjin-gu. It is a 5-story apartment built in 1976, currently housing 130 households, and it is set to transform into a complex of 344 households across three buildings with 6 basement floors and 34 floors above ground through reconstruction. Among them, 288 households will be apartments, and there will be 56 officetels. The housing types will be diverse, including 59㎡, 74㎡, and 84㎡ types, contributing to the improvement of the local residential environment.
Q. Who is the project management agent and what role do they play?
Coramco Asset Trust Co., Ltd. has been designated as the project management agent, overseeing project cost management, permissions, and sales.
The project management agent for the Seongam Apartment Small-scale Reconstruction Project is Coramco Asset Trust Co., Ltd. (CEO: Lee Chung-seong), located in Gangnam-gu, Seoul. They handle overall project operations including project cost management, assistance with permits, overseeing construction, managing sales and fund collection, supporting fund borrowing, and managing project fund execution. They also assist with establishing and managing the disposal plan between associations and landowners.
Q. What is the project timeline and expected completion date?
Project management will begin on December 10, 2025, with the anticipated start date in December 2025 and completion expected in November 2030.
The date of designation of the project management agent is December 10, 2025, with the project commencement expected in the same month. Subsequently, procedures such as relocation, demolition, and sale will be advanced through the trust method. Completion is planned for November 2030, with a work duration of about five years, benefiting from faster progress typical of small-scale maintenance projects.
Q. What is the location and surrounding environment of this reconstruction project?
It's located near Busan Citizen Park, offering a view of the park to the east, and has excellent transportation and nearby living conveniences.
The Seongam Apartment Small-scale Reconstruction Project site is located in Buam-dong, Busanjin-gu, in close proximity to Busan Citizen Park, providing a pleasant environment with the ability to view the park. Transportation is convenient with walking access to both the Donghae Line and Bujeon Station on Busan Metro Line 1, and essential living conveniences such as Busanjin-gu office, EMart Traders, and Lotte Mart are close by, greatly aiding residents. The educational environment is also good, with schools such as Buam Elementary School, Seongji Elementary School, Busanjin Middle School, and Seomyeon Middle School within the district.
Q. Who is the construction company for this project and what is the project name?
DL E&C has been selected as the construction company, and the project name is ‘ePureun Sesame Seomyeon Park Maison’.
DL E&C was selected as the construction company for the Seongam Apartment Small-scale Reconstruction Project in December 2020. The project is named ‘ePureun Sesame Seomyeon Park Maison’, and is being developed at a location characterized by excellent accessibility and market potential at 80-8, Buam-dong, Busanjin-gu. Due to the nature of small-scale reconstruction, the project is progressing without needing management disposal plan approval, leading to rapid advancements.
