Table of Contents
Reconstruction of Oncheon Samik Apartment / Decision on Maintenance Plan and Designation of Maintenance Area for Oncheon 1 Reconstruction Project
- Within the vicinity of 397-6 Oncheon-dong, Dongnae-gu, location, area map, Busan Dongnae Oncheonjang redevelopment investment
The reconstruction of Oncheon Samik Apartment in Oncheon-dong, Dongnae-gu, showed significant progress. The project has officially entered the designation stage through the decision on the maintenance plan and the announcement of the maintenance area designation.
The city of Busan announced on January 7, 2026, that it has determined the maintenance plan for the Oncheon 1 reconstruction project in the area around 397-6 Oncheon-dong, and has designated it as a maintenance area. This process is expected to contribute greatly to the development of the area.
This designation took more than a year after the maintenance plan was finalized in December 2024, and the maintenance area designation (draft) was opened to residents for review and announced. This is an example of administrative procedures taking a long time, carrying important implications with various reviews and adjustments made during the project promotion.
The target area for the Oncheon 1 reconstruction project is designated as a general residential area of type 3, covering an area of 19,927㎡ (about 6,027 pyeong). There are currently three buildings of Oncheon Samik Apartment, totaling 432 units. According to the maintenance plan, the floor area ratio is set to a maximum of 281% or less, and the building coverage ratio is applied at 30% or less.
Based on these criteria, it is expected that approximately 500 units of residential complex can be built after reconstruction. The increase in the number of units is approximately 15%, which is relatively modest. This is expected to have a significant impact on the future living environment.
The reconstruction of Oncheon Samik Apartment is not currently regarded as a highly viable project area. Given the recent rise in construction and building costs, along with the unfavorable conditions of the Busan housing market, concerns have been raised that the project may not proceed smoothly.
However, the excellent location of Oncheon-dong in Dongnae-gu and the potential for improvement in the real estate market and construction environment in the medium to long term remain positive variables that could influence the project conditions.
The reconstruction of the existing residential area located in the center of the Oncheonjang living area serves as a significant advantage in terms of location. Once the reconstruction is complete, prices are likely to be set based on nearby new complexes, 'Dongnae Raemian I-Park' and 'Raemian Prestige'.
Looking at recent transaction data, the exclusive 84㎡ in Dongnae Raemian I-Park trades in the high 900 million won to just over 1 billion won, while Raemian Prestige is trading around 900 million won. Considering these price trends, after the reconstruction of Oncheon 1 area, the expected price for 84㎡ units is forecasted to be between high 800 million won and low 900 million won. This is assessed to be a reasonable range.
The Oncheon 1 area is a reconstruction project focused on improving the existing residential areas rather than large-scale development. Moving forward, the establishment of associations, approval of project implementation plans, and the selection of construction companies are expected to be critical stages that will determine the success of this project.
Notice No. 2025-542 by Busan Metropolitan City
Change of the Basic Plan for Urban and Residential Environment Maintenance in Busan Metropolitan City 2030,
Decision on Maintenance Plan for Oncheon 1 Reconstruction Project and Designation of Maintenance Area
1. This is a modification and announcement in accordance with Article 7 of the Urban and Residential Environment Maintenance Act regarding the “Basic Plan for Urban and Residential Environment Maintenance in Busan Metropolitan City 2030” declared by Notice No. 2019-397 (December 25, 2019) and amended by Notice No. 2024-491 (January 1, 2025).
2. Regarding the maintenance area of the Oncheon 1 reconstruction project in the area of 397-6 Oncheon-dong, Dongnae-gu, Busan, the designation of the maintenance area and decision on the maintenance plan are made as follows in accordance with Article 16 of the Urban and Residential Environment Maintenance Act, and the topographical map is notified in accordance with Article 8 of the Basic Act on Land Use Regulation and Article 7 of the Enforcement Decree of the same Act.
3. Relevant documents (available for review at "http://eum.go.kr") are available at the Urban Maintenance Division of Busan Metropolitan City (☎051-888-4244) and the Architecture Division of Dongnae-gu (☎051-550-4604) for public viewing.
January 7, 2026
Mayor of Busan Metropolitan City
I. Basic Plan for Urban and Residential Environment Maintenance in Busan Metropolitan City 2030
1. Reason for Modification
○ The area of the maintenance plan for Oncheon-Reconstruction-1 in the Busan Metropolitan City Urban and Residential Environment Maintenance Basic Plan is modified considering surrounding conditions, urban management plan correlation, and the formalization of the district boundary.
2. Modification Details
| Designation Type | Serial No. | Area Name | Area (thousand㎡) | Location | Land Use Plan | Project Promotion Stage | Maintenance Plan Establishment Period | Phase Plan | Remarks |
| Already Designated | 168 | Oncheon-Reconstruction-1 | 20.8 | Area of 397-6 Oncheon 2-dong (Oncheon Samik) | Development Induction | Designation of Maintenance Area | 2014 | 3 Phases | Area Modification (Reduction of 0.9 thousand㎡) |
| Modification | 19.9 |
Ⅱ. Designation of Maintenance Area and Decision on Maintenance Plan
1. Reconstruction Project Maintenance Area Designation Document
| Designation Type | Project Division | Area Name | Location | Area (㎡) | Remarks |
| New | Reconstruction Project | Maintenance Area of Oncheon 1 Reconstruction Project | Area of 397-6 Oncheon-dong, Dongnae-gu | 19,927 | - |
2. Reconstruction Project Maintenance Plan
○ Plan regarding land use
| Category | Name | Area (㎡) | Ratio (%) | Remarks | |
| Land and Maintenance Infrastructure (Urban Planning Facilities) | Total | 19,927 | 100.0 | - | |
| Land | Subtotal | 19,416 | 97.4 | - | |
| Multi-family Housing | 19,416 | 97.4 | - | ||
| Maintenance Infrastructure, etc. | Subtotal | 511 | 2.6 | - | |
| Road | 511 | 2.6 | - | ||
○ Plan regarding land use zone changes (no changes)
| Category | Area (㎡) | Ratio (%) | Remarks | |||
| Already Designated | Changes | After Change | ||||
| Total | 19,927 | - | 19,927 | 100.0 | - | |
| Residential Area | Type 3 General Residential Area | 19,927 | - | 19,927 | 100.0 | - |
○ Estimated Shared Cost per Land Owner and Basis for Calculation
| Estimated Shared Cost | Estimated Total Income | Estimated Total Project Cost | Estimated Total Assets | Estimated Ratio |
| 421,510,605,725 won | 228,766,225,852 won | 192,112,000,000 won | 100.33% | |
| Basis for Calculation | ⦁ Estimated Total Assets = Sum of Estimated Total Assets per Land Owner ⦁ Estimated Ratio = (Estimated Total Income – Estimated Total Project Cost) / Estimated Total Assets ⦁ Shared Cost per Land Owner = Member Selling Price - Right Value | |||
The expected value of total assets and individual shared costs may vary according to future management disposition plans, etc.
Additionally, plans regarding the main uses, building coverage ratio, floor area ratio, and height of the building must also be established.
| Decision Type | Area Classification | Lot Classification | Location | Main Use | Building Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) | ||
| Name | Area (㎡) | Name | Area (㎡) | ||||||
| New | Maintenance Area of Oncheon 1 Reconstruction Project | 19,927 | 1-1 | 19,416 | Oncheon-dong 397-6 | Multi-family Housing | Within 30 | Under 281 | Under 102 |
| Housing Scale and Construction Ratio by Scale | ◦ Not applicable | ||||||||
| Matters regarding Construction of Rental Housing | ◦ Not applicable | ||||||||
| Application of Floor Area Ratio Relaxation Standards | ◦ Application of floor area ratio relaxation standards in the Basic Plan for Urban and Residential Environment Maintenance in Busan Metropolitan City - Standard floor area ratio: 260% (Development Induction) - Incentives for providing public facility sites: 11.84% - Local economic revitalization incentive (participation of local design companies): 5% - Sustainable multi-family housing incentive (easy-to-remodel housing): 5% - Permitted floor area ratio: 260% + 11.84% + 5% + 5% = 281.84% - Planned floor area ratio: up to 281% | ||||||||
| Planning concerning Building Setbacks | ◦ In accordance with Article 39-2 of the Busan City Building Ordinance | ||||||||
Classification
Announcement
Agency Classification
City
Agency
Busan Metropolitan City
Notice Number
No. 2025-542
Title
Change of the Basic Plan for Urban and Residential Environment Maintenance in Busan Metropolitan City 2030, Notification of Decision on Maintenance Plan for Oncheon 1 Reconstruction Project and Designation of Maintenance Area
Date
2026-01-07
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Frequently Asked Questions (FAQ)
Q. When was the maintenance plan and designation of the maintenance area for the Oncheon Samik Apartment reconstruction project announced?
Busan Metropolitan City announced the maintenance plan decision and designation of the maintenance area for Oncheon 1 on January 7, 2026.
Busan Metropolitan City officially decided on the maintenance plan for the Oncheon 1 reconstruction project in the area around 397-6 Oncheon-dong on January 7, 2026, and designated it as a maintenance area. This notice indicates that the reconstruction project has officially entered the promotion phase, marking a significant turning point for regional development and improvement of the living environment.
Q. What is the area size of the Oncheon 1 reconstruction project and how many existing units are there?
The target area is 19,927㎡ with 432 units in the existing Oncheon Samik Apartment.
The target area for the Oncheon 1 reconstruction project is a Type 3 General Residential area, covering approximately 19,927㎡ (about 6,027 pyeong). Currently, there are a total of 432 units in three buildings of Oncheon Samik Apartment. According to the reconstruction plan, there will be an increase of around 500 units, reflecting an approximate 15% increase in the number of units, aimed at improving residential conditions and ensuring an adequate supply of housing.
Q. What are the main planning criteria for the reconstruction project, such as floor area ratio and building coverage ratio?
The floor area ratio is set at a maximum of 281% or less, and the building coverage ratio is set at 30% or less.
According to the maintenance plan for the Oncheon 1 reconstruction area, the floor area ratio is limited to a maximum of 281%. Additionally, the building coverage ratio, which indicates the proportion of the total area that can be built upon, is applied at 30% or less, maintaining an appropriate density for construction. These regulations are designed to facilitate the development of a comfortable and well-planned residential complex.
Q. What is the expected size of residential complexes and the increase in units after reconstruction?
After reconstruction, it is expected to be approximately 500 units, with a 15% increase in the number of units.
The existing 432 units of Oncheon Samik Apartment are expected to expand to approximately 500 units after reconstruction. This corresponds to a 15% increase in the number of units, which is not a significant change but promises higher quality living conditions and the supply of modern housing. The increase in unit numbers is being managed to consider the impacts on existing residents and the surrounding environment.
Q. How is the viability of the Oncheon Samik Apartment reconstruction project assessed?
Currently, the project's viability is not high, and there are concerns that market conditions and rising costs may hinder progress.
Due to recent increases in construction and building costs and the unfavorable conditions in the Busan housing market, the viability of the Oncheon Samik Apartment reconstruction project is not highly rated. In this environment, challenges are anticipated for project advancement, but the excellent location of Oncheon-dong in Dongnae-gu and the potential for medium to long-term improvements in the market and construction environment remain positive factors that could affect the project's conditions.
Q. What is the expected market price of the Oncheon 1 area apartments upon completion of the reconstruction?
For 84㎡ units, they are expected to be priced between high 800 million and low 900 million won.
Upon completion of the Oncheon 1 area reconstruction, the pricing for the exclusive area of 84㎡ is expected to range from the high 800 million won to low 900 million won according to the established prices of nearby new complexes like Dongnae Raemian I-Park and Raemian Prestige. Although this estimate may be somewhat lower than nearby new complexes, it is assessed as a reasonable price range.
Q. What are the key procedures that will take place in the future for the Oncheon 1 area reconstruction project?
The establishment of an association, approval of the project implementation plan, and selection of a construction company are important procedures.
In the future, the Oncheon 1 area reconstruction project will proceed with administrative and project procedures, starting with the establishment of an association, followed by the approval of the project implementation plan and selection of a construction company. These stages are critical for the smooth promotion and success of the project, and careful and systematic execution of each procedure is necessary.
