Table of Contents
Altiero Gwangan in Minrak-dong Scheduled for Sale in May / Announcement of Housing Construction Business Plan Change Approval
- Area of Minrak-dong, Suyeong-gu, 316-2, former Busan MBC site, Geumgang Pentarium
The Altiero Gwangan project, located on the former Busan MBC site at 316-2 Minrak-dong and 15 nearby lots in Suyeong-gu, Busan, has received approval for changes to its housing construction business plan. According to Busan Suyeong-gu Announcement No. 2026-45, the official name of this project has been established as the Busan Suyeong-gu Minrak-dong MBC Site Development Project for New Apartment Construction.
The project is managed by High Art E&C, and the project implementation period is set from September 1, 2025, to June 30, 2029. This project is expected to contribute to local development.
The complex will be constructed with a structure ranging from 6 basement floors to 27 above ground, consisting of a total of 366 housing units across 4 buildings. The area size is 48,128㎡, with a usable area of 29,483㎡, and the total floor area reaches 124,044.872㎡.
The changes in this plan include adjustments to unit layouts, modifications to auxiliary welfare facilities, adjustments to the number of parking spaces, changes to gate designs, alterations to public open space formats, and modifications to external protruding balcony designs. Furthermore, if exterior enhancements are made, there is a possibility that the perspective drawing may change as well. These changes are expected to improve the overall quality of the complex.
The construction company is Geumgang Housing. Originally, the existing brand of Geumgang Housing, Geumgang Pentarium, was considered, but for this project, it has been decided to primarily promote the high-end brand 'Altiero'.
The units will consist of large sizes ranging from 151 to 191㎡ and are located in a place where one can enjoy the Gwangan Beach, Minrak Waterfront lifestyle, and Centum City lifestyle. The availability of such diverse living infrastructure is attractive.
Although the sales schedule has been delayed several times, the approval of changes is now announced, and sales are scheduled for May 2026. However, the final sale price and subscription conditions will need to be found out through the public announcement for residents.
| Category | Details |
| Project Name | Busan Suyeong-gu Minrak-dong MBC Site Development Project for New Apartment Construction |
| Complex Name | Altiero Gwangan |
| Location | 316-2 Minrak-dong, Suyeong-gu, Busan and 15 adjacent lots |
| Project Leader | High Art E&C |
| Construction Company | Geumgang Housing |
| Scale | 6 basement floors to 27 above ground, 4 buildings |
| Number of Units | 366 housing units |
| Project Duration | September 1, 2025 ~ June 30, 2029 |
| Sale Timing | Scheduled for May 2026 |
| Sale Price | Not disclosed until official resident recruitment announcement |
Busan Metropolitan City Suyeong-gu Announcement No. 2026 - 45
Announcement of Approval of Changes to Housing Construction Business Plan
1. The initial approval announcement No. 2024-33 (May 15, 2024) for the housing construction business in the area of 316-2 Minrak-dong, Suyeong-gu, Busan, announced changes to approvals No. 2025-1 (January 1, 2025), No. 2025-5 (January 22, 2025), No. 2025-85 (August 13, 2025), and No. 2026-17 (March 18, 2026) for the housing construction project, and in accordance with Article 15 (4) of the Housing Law, the approval for changes to the housing construction business plan is hereby announced.
2. Relevant documents are kept at the Suyeong-gu Office (Building Division) in Busan for public access by general citizens and interested parties.
April 29, 2026
Mayor of Suyeong-gu, Busan
1. Project Name
: Busan Suyeong-gu Minrak-dong MBC Site Development Project for New Apartment Construction
2. Name and Address of Project Leader
a. Name: CEO Seo Jae-ho, High Art E&C Co., Ltd.
b. Address: 2nd floor, 419 Teheran-ro, Gangnam-gu, Seoul (Samseong-dong, Samsung Financial Plaza)
3. Location, Area, and Scale of Project Site
a. Location: 316-2 Minrak-dong, Suyeong-gu, Busan and 15 adjacent lots
b. Site area: 48,128㎡ [Usable area (apartment) 29,483㎡]
c. Building area: 4,319.6273㎡
d. Total floor area: 124,044.872㎡
e. Scale: 6 basement floors / 27 above ground, 4 buildings (366 housing units)
f. Purpose: Apartment (housing), auxiliary and welfare facilities
4. Project implementation period:
September 1, 2025 ~ June 30, 2029
5. Changes
a. Changes in total floor area due to adjustments to unit layouts and auxiliary welfare facilities
b. Adjustments to building coverage and floor area ratio resulting from layout changes in unitse
c. Improvements to layouts of auxiliary welfare facilities and neighborhood commercial facilities
d. Re-calculation of areas due to optimization of unit layouts and partial changes in wall thickness
e. Changes in plans for external protruding balconies to enhance safety
f. Adjustments in structure columns and facility spaces in underground floors, adjustment of the number of parking spaces
g. Changes in emergency vehicle access radius and landscaping plans to ensure safety of emergency vehicles
h. Changes in gate design to improve the aesthetics of the entrance to the complex
i. Adjustments in the position and shape of external stairs to ensure pedestrian safety and accessibility to public open spaces
j. Addition of one more level of retaining wall near the entrance and plans for external stairs
k. Changes in the external environment of the daycare center (playground)
l. Changes in public open space format to improve accessibility
m. Changes in plans for north-side inspection stairs to ensure safety and stability
6. Matters deemed to be approved in accordance with Article 19 (1) of the Housing Law
a. Building permit in accordance with Article 11 of the Building Act
(No changes)
b. Development activity permit in accordance with Article 56 of the National Land Planning and Utilization Act
(No changes)
c. Decision on urban management plans (district unit planning area and district unit plan) in accordance with Article 30 of the National Land Planning and Utilization Act
1) Decision record for district unit planning area
(No changes)
2) Decision record on urban management plan for subdivision of land use
(No changes)
3) Decision record on placement and scale of infrastructure in urban management plan
(No changes)
4) Decision record on the scale and formation of lots and parcels in urban management plan
(No changes)
5) Decision record on the use, building coverage ratio, floor area ratio, and height of buildings in urban management plan
(No changes)
d. Designation of urban planning facility businesses in accordance with Article 86 of the National Land Planning and Utilization Act and approval of implementation plans in accordance with Article 88 of the same law
(No changes)
7. Related documents: Omitted. End.
Category
Announcement
Agency Type
District
Agency
Suyeong-gu
Announcement Number
No. 2026-45
Title
Announcement of Approval of Changes to Housing Construction Business Plan
Date
April 29, 2026
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Frequently Asked Questions (FAQ)
Q. What are the main details of the Altiero Gwangan apartment development project in Minrak-dong?
This is a housing development project consisting of 366 housing units from 6 basement floors to 27 above ground at 316-2 Minrak-dong, Suyeong-gu, Busan.
This project is located on the former Busan MBC site and is managed by High Art E&C Co., Ltd., to be implemented from September 2025 to June 2029. It consists of a total of 4 buildings and plans to develop large apartment units on a site area of 48,128㎡ with a total floor area of 124,044.872㎡. The approved changes include adjustments to layouts, changes to parking spaces, and other design modifications to enhance the project's completeness.
Q. What are the features and location of the Altiero Gwangan complex?
It features large unit sizes from 151 to 191㎡, located near Gwangan Beach, Minrak Waterfront, and Centum City.
The complex prominently features the high-end brand Altiero, with Geumgang Housing in charge of construction. It is adjacent to both the Gwangan Beach and Minrak Waterfront lifestyle areas as well as the Centum City lifestyle, allowing for easy access to various living convenience infrastructures. This location and high-quality design are expected to enhance residential satisfaction.
Q. What are the important details related to the sale schedule?
After the announcement of approval for changes, the sale is scheduled for May 2026, and prices and subscription conditions will be announced later.
The sale schedule has been delayed several times; however, with the recent approval of the housing construction business plan changes, the project is officially slated for sale in May 2026. Specific details regarding final sale prices and subscription conditions will be made available through the resident recruitment announcement. Interested buyers should carefully check the announcement.
Q. What are the major changes included in the housing construction business plan change approval?
Unit layouts, auxiliary welfare facilities, parking spaces, gate design, and balcony designs have been adjusted.
The change approval includes adjustments to unit layouts, changes to auxiliary welfare facilities and neighborhood commercial facilities, adjustments to the number of parking spaces, and structural changes to enhance safety. Furthermore, modifications to external protruding balcony designs, changes in gate design, and adjustments to public open space formats will enhance aesthetics and accessibility, contributing to the overall quality and safety of the complex.
Q. Who are the project implementation subject and construction company, and how is the brand structured?
The managing company is High Art E&C Co., Ltd., the construction company is Geumgang Housing, and the high-end brand 'Altiero' is used.
The managing company, High Art E&C Co., Ltd., oversees the project while Geumgang Housing is in charge of construction. Instead of the existing Geumgang Housing brand Geumgang Pentarium, the project is being promoted with the high-end brand 'Altiero'. This strategy aligns with the characteristics of the complex located as premium large-format apartments.
