Table of Contents
Notification of Cooperative Establishment Approval for the Small-Scale Redevelopment Project near Exit 1 of Namsan Station
- The area around 225-33 Namseong-dong, Geumjeong-gu: location, district map, progress, small-scale redevelopment investment
The small-scale redevelopment project near Exit 1 of Namsan Station in Namseong-dong, Geumjeong-gu, has entered a significant phase as it received approval for the establishment of a cooperative.
On January 7, 2026, Geumjeong-gu Office announced that it has completed the notification of the cooperative establishment approval and the topographical map for 225-33 Namseong-dong.
As a result, expectations for local development have increased considerably.
The recently approved project site is located near Exit 1 of Namsan Station on Line 1 of the Busan Subway, with an area set at 4,933.3㎡ for the small-scale redevelopment zone. The approval for the establishment of the cooperative is scheduled for December 29, 2025, which will grant the cooperative legal status. This lays the groundwork for establishing future project implementation plans and various permits and approvals.
The area around Namsan Station has a favorable location based on its excellent transport-oriented position and good access to Jungang-daero. Notably, because it is being carried out in a small-scale redevelopment manner rather than a large-scale maintenance project, the procedures for the project are simpler and the pace of advancement is faster compared to typical redevelopment or reconstruction.
Although the scale of the project is not large, the location and the ease of small-scale investment may attract interest from genuine users and small-scale investors. However, since it is being conducted on a small scale in a non-premium area, there may be constraints on project viability. In reality, establishing as wide an area as possible in such regions can positively impact the project's profitability.
Therefore, investment opportunities around Namsan Station should be approached with caution.
As the project implementation plan and building plans are solidified, improvements in the residential environment around Namsan Station are expected. Consequently, the maintenance effects of aging residential areas are also anticipated.
Geumjeong-gu Notification No. 2026-2 of Busan Metropolitan City
Notification of Cooperative Establishment Approval for the Small-Scale Redevelopment Project near Exit 1 of Namsan Station
Based on the provisions of Article 23, Paragraph 2 of the Special Act on the Maintenance of Vacant Houses and Small Housing, approval is granted for the establishment of a cooperative regarding the 'Small-Scale Redevelopment Project near Exit 1 of Namsan Station' in the area around 225-33 Namseong-dong, Geumjeong-gu, Busan, and this notice is made in accordance with Article 23, Paragraph 9 of the same Act and Article 21-2 of the Enforcement Decree.
Date: January 7, 2026
Mayor of Geumjeong-gu, Busan
1. Type and Name of Project
a. Type: Small-scale redevelopment project
b. Name: Small-Scale Redevelopment Project near Exit 1 of Namsan Station
2. Location and Area of Project Implementation Zone
a. Location: Area around 225-33 Namseong-dong, Geumjeong-gu, Busan
b. Area: 4,933.3㎡
3. Scheduled Start Date and Completion Date of the Project
a. Scheduled Start Date: To be determined
b. Scheduled Completion Date: To be determined
4. Name of Cooperative and Office Location
a. Cooperative Name: Small-Scale Redevelopment Maintenance Cooperative near Exit 1 of Namsan Station
b. Office Location: 6, 2007 Beon-gil, Jungang-daero, Geumjeong-gu, Busan
5. Date of Cooperative Establishment Approval: December 29, 2025
Classification
Notification
Institution Type
District Council
Organization
Geumjeong-gu
Notification/Announcement Number
No. 2026-2
Title
Notification of Cooperative Establishment Approval for the Small-Scale Redevelopment Project near Exit 1 of Namsan Station
Date
January 7, 2026
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Frequently Asked Questions (FAQ)
Q. When is the approval date for the cooperative establishment for the small-scale redevelopment project near Exit 1 of Namsan Station?
The cooperative establishment approval is scheduled for December 29, 2025.
The small-scale redevelopment project near Exit 1 of Namsan Station is set to receive cooperative establishment approval on December 29, 2025. This will secure the cooperative's legal status and provide a foundation for establishing planning and various permits and approvals necessary for project implementation. The approval for the establishment of the cooperative serves as a crucial turning point in advancing the redevelopment project.
Q. What is the location and area of the small-scale redevelopment project area near Exit 1 of Namsan Station?
The project area is around 225-33 Namseong-dong, Geumjeong-gu, Busan, and the area is approximately 4,933.3㎡.
The small-scale redevelopment project area near Exit 1 of Namsan Station is located around 225-33 Namseong-dong, Geumjeong-gu, Busan. As a small-scale redevelopment area, it has a total area set at 4,933.3㎡ and boasts an excellent transport-oriented positioning near Exit 1 of Line 1 of the Busan Subway. This locational advantage enhances the area's development and investment value.
Q. What are the characteristics and investment attractiveness of this small-scale redevelopment project?
It is attractive to genuine users and small-scale investors due to fast project advancement and small investment possibilities.
This project is characterized by being conducted as a small-scale redevelopment rather than a large-scale maintenance project, resulting in simpler procedures and faster advancement. Based on its transport-oriented position near Exit 1 of Namsan Station, it is likely to attract attention from genuine users and small-scale investors due to ease of small-scale investments. However, since the project scale is not large, there may be constraints on its viability, necessitating careful consideration before investment.
Q. What future benefits are expected from the small-scale redevelopment project near Exit 1 of Namsan Station?
Improvements in the residential environment and maintenance of aging residential areas are expected.
The small-scale redevelopment project near Exit 1 of Namsan Station is expected to improve the nearby residential environment as project implementation plans and building concepts are solidified. This is anticipated to lead to the maintenance of aging houses and environments, enhancing residential satisfaction for local residents. While small, this project can positively impact local revitalization.