Table of Contents
Notice of Cancellation of Project Agent Designation for the Urban Housing Improvement Project in Anrak-dong 144
- Progress of redevelopment in the area of Anrak-dong 144, district map, project viability, Dongnae real estate investment
A significant change has occurred in the progress of the urban housing improvement project in the area of Anrak-dong 144 in Dongnae-gu as the decision for the project agent designation has been canceled. This project continued administrative processes after being conditionally approved at the 10th meeting of the Building Committee on August 7, 2025. It is necessary to pay attention to the future direction of the project.
The urban housing improvement project in the area of Anrak-dong 144 received the permit for association establishment in September 2022. Subsequently, in December 2023, a project agent was designated, and the project was officially launched. This project site is located west of Anrak Tranche Complex 1, surrounded by residential areas and convenience facilities, and is evaluated as having excellent living environment and transportation accessibility.
During the contractor selection process, Ilseong Construction and Namkwang Construction were competing by the bid deadline in June 2024. However, it has not yet been officially confirmed which contractor has been selected. The association has been pursuing the project through a trust company, but recently the decision to designate the project agent has been canceled. This change is expected to significantly impact the future progress of the project.
The cancellation of the project agent designation can have a significant impact on the way the association proceeds with the project and its future plans. Although the trust method has advantages in managing funds and administrative procedures efficiently, this decision increases the likelihood that the association will need to readjust the structure of the project moving forward. However, specific changes or follow-up schedules will need to be confirmed through additional notices or official announcements from the association.
The Anrak-dong area is known to have stable residential demand in Dongnae-gu. It is expected to supply small-scale housing and improve the living environment through the urban housing improvement project. Following the recent notice of cancellation of the project agent designation, the association's response and the progress of future administrative procedures are likely to be the main concerns of the project. It will be necessary to carefully observe the future situation.
Notice No. 2025-121 from Dongnae-gu, Busan Metropolitan City
Urban Housing Improvement Project in Anrak-dong 144
Cancellation Notice of Project Agent Designation
In accordance with Article 28 of the “Urban and Residential Environment Improvement Act,” the urban housing improvement project in the area of Anrak-dong 144 has had its project agent designation canceled as per the notice No. 2023-155 issued by Dongnae-gu, Busan Metropolitan City on December 20, 2023, and is hereby notified in accordance with Article 23 of the “Enforcement Decree of Urban and Residential Environment Improvement Act” as follows.
December 17, 2025
Mayor of Dongnae-gu, Busan Metropolitan City
1. Type and Name of the Project
a. Type: Urban Housing Improvement Project
b. Name: Urban Housing Improvement Project in Anrak-dong 144-10
2. Name and Address of the Project Executor
a. Project Executor: Anrak-dong 144 Urban Housing Improvement Association (Chairman Lee Tae-ja)
b. Address: 203, 417 Chungnyeoldae-ro, Dongnae-gu, Busan,
3. Location and Area of the Project
a. Location: Area of Anrak-dong 144-10, Dongnae-gu, Busan
b. Area: 8,806.27㎡
4. Scheduled Start and Completion Dates
a. Scheduled Start Date: February 2026
b. Scheduled Completion Date: January 2029
5. Contents of Cancellation of Project Agent Designation
a. Project Agent: Daesin Asset Trust Co., Ltd. (CEO Kim Seung-kyu)
b. Address: 343, Samil-daero, Jung-gu, Seoul (Jeong-dong 1-ga, Daesin Finance Center)
c. Project Agent Designation Date: December 12, 2023
d. Cancellation Notice of Project Agent Designation Date: December 17, 2025
e. Reason for Cancellation: Decision by the assembly based on the consent of the majority of members
Classification
Announcement
Agency Classification
District
Agency
Dongnae-gu
Announcement Number
No. 2025-121
Title
Cancellation Notice of Project Agent Designation for Urban Housing Improvement Project in Anrak-dong 144
Date
December 17, 2025
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Frequently Asked Questions (FAQ)
Q. Why was the project agent designation for the urban housing improvement project in Anrak-dong 144 canceled?
The project agent designation was canceled according to the resolution of the general assembly with the consent of the majority of members.
The designation of the project agent for the urban housing improvement project in Anrak-dong 144 was canceled as of December 17, 2025. This cancellation decision was made based on the resolution of the general assembly with the consent of the majority of members and was officially announced by the Dongnae-gu Office in accordance with administrative procedures. This decision is expected to change the approach and schedule of the project, and the association is likely to reconsider the project structure moving forward.
Q. What is the location and area of the urban housing improvement project in Anrak-dong 144?
The location is Anrak-dong 144-10 in Dongnae-gu, Busan, and the area is 8,806.27㎡.
The urban housing improvement project is located in the area of Anrak-dong 144-10, Dongnae-gu, Busan. The total area of the project site is approximately 8,806.27㎡, making it suitable for a small-scale improvement project. The surroundings consist of residential areas and convenience facilities, and the living environment and transportation accessibility are excellent, making it a region with stable residential demand within Dongnae-gu.
Q. When are the scheduled start and completion dates for the project?
The scheduled start date is February 2026, and the scheduled completion date is January 2029.
The urban housing improvement project in Anrak-dong 144 is planned to start in February 2026. The scheduled completion date is set for January 2029, indicating that the project will take approximately three years. However, as the project agent designation has recently been canceled, there may be changes in the project schedule or approach, so careful attention to the association's additional announcements is necessary.
Q. Which trust company was designated as the project agent and what was the reason for the cancellation?
Daesin Asset Trust was designated, but the designation was canceled due to the consent of the members of the association.
In December 2023, Daesin Asset Trust Co., Ltd. was designated as the project agent for the urban housing improvement project in Anrak-dong 144. However, on December 17, 2025, the Dongnae-gu Office's notice stated that the designation of the project agent was canceled, based on the consent of the majority of members through the general assembly. This decision requires the association to reevaluate the trust method of project implementation and seek alternative methods.
Q. What is the progress of the Anrak-dong urban housing improvement project and the outlook for real estate investment?
The project is underway following the establishment of the association and designation of the project agent, and there is high investment interest due to the stable living environment.
The urban housing improvement project in the area of Anrak-dong 144 received its authorization for association establishment in September 2022, and it commenced actively in December 2023 when the project agent was designated. The contractor selection process is ongoing with Ilseong Construction and Namkwang Construction participating in the bidding. This area is recognized as having stable residential demand due to its excellent living environment and concentration of convenience facilities, making it a focus for real estate investment within Dongnae-gu. However, due to the recent cancellation of the project agent's designation, there are expected changes in the future project schedule, necessitating careful analysis of the situation.
