Table of Contents
Geumjeongsan Kolon Skyview Lumiel February Sales / Announcement of Housing Construction Project Plan (Amendment) Approval
- Jangjeon-dong 618-1, Human Park Jangjeon Regional Housing Association Mixed-Use Construction Project
The city of Geumjeong-gu in Busan Metropolitan City confirmed the announcement of the approval for the housing construction project plan (amendment) for the 'Human Park Jangjeon Regional Housing Association Mixed-Use Construction Project' as of January 14, 2026. This project is known as 'Geumjeongsan Kolon Skyview Lumiel' located at 618-1 Jangjeon-dong.
In February 2024, the construction company will change to Kolon Global, with full-scale construction expected to begin in April of the same year. Due to the nature of regional housing association projects, some time has been needed during the process, but now that it has entered the construction and sales phase, it is interpreted as a positive signal in terms of business stability.
This development is expected to greatly impact the enhancement of the residential environment in Geumjeong-gu and the real estate market. Future developments will be closely monitored.
The project site is located in a general commercial area, subject to regulations on fire districts and maximum heights by block. The land area is 11,039㎡, with a building area of 4,083.9245㎡ and a total floor area of 133,350.9709㎡. The building will rise 48 floors above ground and 6 floors below ground, housing 669 apartment units. Among them, 213 units are planned for general sale, along with 74 officetel units.
A total of 927 parking spaces are designed for the project, with a floor area ratio of 835.57% and a building coverage ratio of 38.71%. The initial completion date was set for August 2028, but it has been extended to January 19, 2029. The progress of this project is expected to have a positive impact on regional development.
Nearby are existing residential complexes such as Jangjeon Raemian and Raemian Prestige. Considering the characteristics of a small high-rise mixed-use complex, The Shop Oncheon Heritage serves as the most suitable benchmark for price comparisons. This complex, located in Oncheon-dong, Dongnae-gu, has recently recorded actual transaction prices around 600 million KRW for a dedicated area of 84㎡ (approx. 118㎡). This kind of data allows for assessment of the market value of the complex.
Geumjeongsan Kolon Skyview Lumiel is regarded as an apartment complex attracting attention when considering various elements. First, it's located in a general commercial area and is designed in a super high-rise mixed-use format. Moreover, the well-known brand of Kolon Skyview attracts market interest.
Notably, the expected price for the 84㎡ unit is around 700 million KRW. Reflecting the characteristics of the housing association project and current real estate market trends, the sales price is expected to be slightly higher than surrounding market prices. However, the scarcity of new supply in the Jangjeon-dong area and the valuation of product quality are expected to play crucial roles in sales performance.
The current announcement includes adjustments to building area and total floor area, performance-based design changes, revisions to parking and sewage plans, and extensions to the project duration. Additionally, in accordance with the Housing Act, the granting of building permits and development activity permits, including urban planning facility project implementation plan approvals, are to proceed together. Following this schedule, sales procedures are set to begin in earnest based on the approval announcement.
Announcement No. 2026-10 of Geumjeong-gu, Busan Metropolitan City
Announcement of Approval of Housing Construction Project Plan (Amendment)
1. Regarding the "Human Park Jangjeon Regional Housing Association Mixed-Use Construction Project" located at 618-1 Jangjeon-dong, Geumjeong-gu, Busan Metropolitan City, the approval for the amendment of the housing construction project plan is made under Article 15 of the Housing Act, and is hereby announced as follows pursuant to Article 15, paragraph 6 of the said law and Article 30, paragraph 5 of the enforcement decree of the same law.
2. Relevant documents are stored in the Building Department of Geumjeong-gu and are available to the general public and interested parties; related drawings are omitted from publication (accessible on land information at “http://eum.go.kr”).
January 14, 2026
Mayor of Geumjeong-gu, Busan Metropolitan City
1. Project Name:
Human Park Jangjeon Regional Housing Association Mixed-Use Construction Project
2. Name and Address of the Project Entity (no change)
a. Name and Address
- Jin Jeong-il, Chair of the Human Park Jangjeon Regional Housing Association [60 Oncheonjang-ro, Dongnae-gu, Busan, 6th Floor (Oncheon-dong)]
- Kim Jeong-il, CEO of Kolon Global Co., Ltd. [11 Kolon-ro, Gwacheon-si, Gyeonggi-do (Byeolyang-dong, Kolon)]
3. Location, Area, and Scale of the Project
a. Location: 618-1 Jangjeon-dong, Geumjeong-gu, Busan Metropolitan City
b. Land Area: No Change
c. Building Area: (Initial) 4,081.7531㎡
(Amendment) 4,083.9245㎡
d. Total Floor Area: (Initial) 133,221.5046㎡
(Amendment) 133,350.9709㎡
e. Purpose and Building Scale: No Change
4. Project Implementation Period
(Initial) 2024. 03. 31. ~ 2028. 08. 31.
(Amendment) 2024. 03. 31. ~ 2029. 01. 19
5. Key Changes:
a. Changes in building area and total floor area
b. Performance-based design changes
c. Changes to parking spaces and vehicle passage widths due to modifications in parking barrier installations
d. Changes in sewage plans
e. Changes to project duration, etc.
6. Matters subject to presumptive approval under Article 19, paragraph 1 of the Housing Act
a. Building permits pursuant to Article 11 of the Building Act
b. Approval for development activities pursuant to Article 56 of the National Land Use Planning and Utilization Act (amendment)
- Project Duration: (Initial) within 6 months of approval date ~ August 31, 2028 (53 months)
(Amendment) within 6 months of approval date ~ January 19, 2029 (58 months)
c. Approval of urban planning facility project implementation plans under Article 88 of the National Land Use Planning and Utilization Act
7. For further inquiries:
Geumjeong-gu Building Department, Busan Metropolitan City (☎051-519-4605)
Category
Announcement
Authority Category
District
Agency
Geumjeong-gu
Announcement Number
No. 2026-10
Title
Announcement of Approval of Housing Construction Project Plan (Amendment)
Date
January 14, 2026
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Frequently Asked Questions (FAQ)
Q. What is the location and scale of the Geumjeongsan Kolon Skyview Lumiel project?
Geumjeongsan Kolon Skyview Lumiel is located at 618-1 Jangjeon-dong, Geumjeong-gu, Busan and is a 669-unit apartment complex with 6 basement floors and 48 above-ground floors.
This project is located at 618-1 Jangjeon-dong, Geumjeong-gu, Busan Metropolitan City and is known as the Human Park Jangjeon Regional Housing Association Mixed-Use Construction Project. The land area is 11,039㎡, the building area is approximately 4,083.9245㎡, and the total floor area reaches 133,350.9709㎡. The building is large, reaching 6 underground floors and 48 above-ground floors, including a total of 669 apartment units and 74 officetel units. This complex is located in a general commercial area, subject to fire district and maximum height regulations by block.
Q. What is the schedule for sales and construction?
In February 2024, Kolon Global will be changed as the construction company, and substantial construction and sales will begin in April.
The project will have Kolon Global as the construction company starting in February 2024, and substantial construction is expected to begin in April. Due to the nature of regional housing association projects, this process has taken some time, but construction and sales stages have now begun, proceeding in a stable manner. The announcement was confirmed on January 14, 2026, as the housing construction project plan amendment approval, and the sales procedure is expected to start in earnest.
Q. What is the planned number of sold units and parking spaces?
Out of the 669 apartment units, 213 units are for general sale, and a total of 927 parking spaces will be provided.
Geumjeongsan Kolon Skyview Lumiel consists of a total of 669 apartment units, 213 of which will be available for general sale. Additionally, there will be 74 officetel units included in the plan. A total of 927 parking spaces have been designed, ensuring sufficient convenience for residents' parking. Furthermore, improvements have been made to parking plans, including changes to the position of parking barriers and adjustments to vehicle passage widths.
Q. How do the sales prices compare to the surrounding market prices?
The sales price for the dedicated 84㎡ unit is expected to be around 700 million KRW, slightly higher than the surrounding prices.
The expected price for the 84㎡ dedicated area in Geumjeongsan Kolon Skyview Lumiel is around 700 million KRW. Considering that similar dedicated 84㎡ units in The Shop Oncheon Heritage complex in the nearby Dongnae-gu Oncheon-dong have recently been traded around 600 million KRW, the projected sales price is somewhat above the surrounding market level. However, given the rarity of new supply in the Jangjeon-dong area and the value of the Kolon Skyview brand, this project is receiving positive feedback in the market, leading to high interest in its sales potential.
Q. What are the main points included in this housing construction project plan amendment announcement?
The announcement includes changes to the building area and total floor area, performance-based design changes, revisions of parking and sewage plans, and extension of the project duration.
The housing construction project plan amendment announced on January 14, 2026, shows a slight increase in building area from 4,081.7531㎡ to 4,083.9245㎡, and total floor area from 133,221.5046㎡ to 133,350.9709㎡. It has incorporated various adjustments like performance-centered design changes, modifications in parking space numbers and locations, vehicle passage width adjustments, and alterations to sewage planning. The anticipated completion date has been extended from August 2028 to January 19, 2029.