Table of Contents
Announcement of the decision on the maintenance plan and designation of the maintenance area for the Yongho 8 redevelopment project, along with information about the resident briefing and public review
- Area of Yongho-dong 676, map of the area, project progress
The Nam-gu district of Busan plans to announce the decision on the maintenance plan and designation of the maintenance area for the Yongho 8 redevelopment project to residents on April 15, 2026.
The site for this project is the area around Yongho-dong 676, covering approximately 74,209 square meters. The public review will be held for 30 days until May 15, and the briefing is scheduled for April 16.
The Yongho 8 area is set to initiate the designation procedure for the maintenance area after completing the pre-feasibility study in March 2025. The current plan proposes to change the zoning from Type 2 General Residential Area to Type 3 General Residential Area, with a planned floor area ratio of approximately 255% or less. Furthermore, the public review indicates that commercial areas are not included, suggesting that the commercial properties on Yongho-ro will be excluded. This increases the possibility for the project's progression.
Geographically, the residential area located within walking distance of Baegun Elementary School is regarded as a central living space. Based on the extensive redevelopment area, it is anticipated that more than 1,700 units will be developed. However, a prudent approach is needed regarding the overall project feasibility.
Due to the nature of redevelopment, various conditions are considered such as public contributions, infrastructure acquisition, and the ratio of rental housing, which may lead to a potential revenue structure that could be lower than planned. These elements will serve as important references in making investment decisions.
The current stage is the public review phase before the designation of the maintenance area, after which procedures for establishing a union and obtaining business approval are needed. Considering the typical project timeline, it is expected that substantial time will be required before actual construction and sales.
In conclusion, the Yongho 8 area has generated positive expectations for redevelopment after passing the pre-feasibility study. However, considering the zoning and project conditions, a careful review of the realistic feasibility of the project is necessary rather than an overly optimistic perspective.
Announcement No. 2026-586 of Nam-gu, Busan Metropolitan City
Notice regarding the resident briefing for the Yongho 8 redevelopment project, the decision on the maintenance plan, and the public review
In accordance with Article 15 of the 「Urban and Residential Environment Maintenance Act」 and Article 13 of the enforcement ordinance of the same law, this is to announce the holding of a resident briefing and the public review regarding the maintenance plan decision and maintenance area designation (draft) for the Yongho 8 redevelopment project in the area of Yongho-dong 676, Nam-gu, Busan.
If you have any opinions regarding the maintenance plan decision and maintenance area designation (draft), please submit your written opinions to the public review location during the review period.
April 15, 2026
Mayor of Nam-gu, Busan Metropolitan City
1. Overview of the Resident Briefing
a. Date: April 16, 2026 (Thursday) at 14:00
b. Location: 93, Dongmyeong-ro 152 beon-gil, 3rd floor (Yongho Market)
c. Attendees: Landowners and residents
d. Content: Explanation of the maintenance plan decision and maintenance area designation (draft)
2. Overview of the Public Review
a. Period: April 15, 2026 (Wednesday) to May 15, 2026 (Friday) (30 days)
b. Location
1) Office of the Yongho 8 Redevelopment Preparation Committee
[2nd floor, 16, Yongho-ro 178 beon-gil, (Yongho-dong 484-16), Tel: 051) 624-5948]
2) Construction Department, Nam-gu Office [7th floor, 19, Motgol-ro, (Daeyeon-dong), Tel: 051) 607-4616]
c. Public review content
1) Designation record for the maintenance area
| Category | Project Type | Area Name | Location | Area (㎡) | Remarks |
| New | Redevelopment Project | Yongho 8 Redevelopment Maintenance Area | Area around Yongho-dong 676 (40-8, Dongmyeong-ro 118 beon-gil) | 74,209.0 | - |
2) Maintenance Plan
a) Estimated contribution amount and basis by landowners
| Estimated Contribution Amount | Estimated value of the assets after the project | Total Estimated Project Cost | Estimated value of the assets before the project | Estimated Proportional Rate |
| 851,759,000 thousand won | 703,229,864 thousand won | 139,952,428 thousand won | 106.13% | |
| Basis for Calculation | ⦁Estimated value of the assets before the project = Sum of the estimated values of the assets for each landowner⦁Estimated Proportional Rate = (Estimated total revenue - Estimated total project cost)/Estimated value of assets before the project⦁Contribution by landowners = Member sale price - Rights amount | |||
※ The above estimates may change during the process of obtaining approval for the project implementation plan and management disposal plan
b) Plan for zoning change
| Category | Area (㎡) | Composition Ratio (%) | Remarks | |||
| Existing | Changed | After Change | ||||
| Total | 74,209 | - | 74,209 | 100.0 | ||
| Residential Area | Type 2 General Residential Area | 74,209 | Decrease) 74,209 | - | - | |
| Type 3 General Residential Area | - | Increase) 74,209 | 74,209 | 100.0 | ||
c) Land use plan
| Category | Name | Area (㎡) | Ratio (%) | Remarks | ||
| Urban Management Planning Land Use Zone | Total | 74,209 | 100.0 | |||
| Type 3 General Residential Area | 74,209 | 100.0 | ||||
| Urban Management Planning Region | Total | - | - | |||
| - | - | - | ||||
| Land and Maintenance Infrastructure (Urban Planning Facilities) | Total | 74,209 | 100.0 | |||
| Residential Land | 59,110 | 79.7 | ||||
| Apartment Housing | 58,788 | 79.2 | Public Pedestrian Path (8m) | |||
| Existing Sites | 322 | 0.5 | Religious Facility | |||
| Maintenance Infrastructure (Urban Planning Facilities) | 15,099 | 20.3 | ||||
| Road | 8,502 | 11.4 | ||||
| Parking Lot | 552 | 0.7 | ||||
| Park | 6,045 | 8.2 | ||||
| Linear Park 1 | 3,840 | 5.2 | ||||
| Linear Park 2 | 1,510 | 2.1 | ||||
| Small Park | 695 | 0.9 | ||||
d) Plan for buildings
| Category | Region Classification | Household or Lot Classification | Location | Main Use | Building Coverage (%) | Floor Area Ratio (%) | Height (m) | Remarks | ||||||||||||||||||
| Name | Area (㎡) | Name | Area (㎡) | |||||||||||||||||||||||
| New | Yongho 8 Redevelopment Project Maintenance Area | 74,209.0 | I-1 | 58,788.0 | Area around Yongho-dong 676 | Apartment Housing and Ancillary Facilities | Under 30% | Under 255% | Under 104m | |||||||||||||||||
| I-2 | 322.0 | Area around Yongho-dong 396-3 | Neighborhood Commercial Facilities | Under 30% | Under 220% | Under 30m | Retention | |||||||||||||||||||
| Housing Scale and Construction Ratio by Size | ⦁At least 40% of the total households to be constructed must be under 85㎡ | |||||||||||||||||||||||||
| Matters regarding the construction of rental housing | ⦁At least 10% of the total households to be constructed or at least 7% of the total floor area must be constructed as rental housing⦁At least 30% of rental housing units or at least 5% of the total constructed housing units must be under 40㎡ | |||||||||||||||||||||||||
| Application of Floor Area Ratio Relaxation Standards | ⦁Apply the standards and relaxations for floor area ratios based on the 「Basic Urban and Residential Environment Maintenance Plan of Busan Metropolitan City 2030 (December 2019)」 and subsequent modifications. | |||||||||||||||||||||||||
| Category | Evaluation Score | ⇨ | Evaluation Score Allocation | Land Use | Standard Floor Area Ratio | |||||||||||||||||||||
| Yongho 8 Area | 54 Points | 50-80 Points | Housing Maintenance | 230% | ||||||||||||||||||||||
| ⦁Allowed Floor Area Ratio: If total incentives are applied, 258.8%. Maximum allowable floor area ratio when providing public benefit elements: 241.8%⦁Incentives other than public benefit elements: 17.0%- Regional economic revitalization incentive: 17%→ Subcontracting: 12% (Participation ratio of local companies 60% or more)→ Designers: 5% (Participation ratio of local companies 50% or more)⦁Calculation of allowable floor area ratio: Allowable floor area ratio: 241.8% + 17.0% = 258.8%⦁Planned floor area ratio: Under 255% (excluding regional economic revitalization incentive if no participation from local construction companies) | ||||||||||||||||||||||||||
| Plan related to building lines | ⦁Ensure compliance with the Housing Act and related laws, and do not establish separate building line plans | |||||||||||||||||||||||||
e) Other matters: Refer to public review documents
3. Public Review Documents: Omitted for brevity (Available at public review location)
4. Method for Submitting Opinions: Submit written opinions to the Construction Department of Nam-gu Office during the review period
5.
Please refer to the documents available at the public review location for detailed information, and please note that this content may change as per administrative procedures such as the deliberation of the Urban Scenery Joint Committee in the future.
Category
Announcement
Agency Type
Local Government
Agency
Nam-gu
Notice Number
No. 2026-586
Title
Announcement of the decision on the maintenance plan for the Yongho 8 redevelopment project and the designation of the maintenance area, along with information about the resident briefing and public review
Date
2026-04-15
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Frequently Asked Questions (FAQ)
Q. When and where will the resident briefing for the Yongho 8 redevelopment project be held?
The resident briefing will be held on April 16, 2026, at 2 PM on the 3rd floor of Yongho Market.
The resident briefing explaining the maintenance plan decision and maintenance area designation (draft) for the Yongho 8 redevelopment project will take place on Thursday, April 16, 2026, at 2 PM, at 93, Dongmyeong-ro 152 beon-gil, 3rd floor, Nam-gu Yongho Market. Landowners and residents will be able to hear about the project plans.
Q. What are the main contents of the redevelopment project maintenance plan for Yongho 8?
The zoning will change from Type 2 to Type 3 General Residential Area, and the floor area ratio will be approximately 255% or less.
The site for the Yongho 8 redevelopment project covers about 74,209㎡ around Yongho-dong 676, transitioning from a Type 2 General Residential Area to a Type 3 General Residential Area. The planned floor area ratio is approximately 255% or less, and commercial areas are excluded, meaning the commercial properties along Yongho-ro will not be part of the project. This is leading to expectations of building more than 1,700 housing units.
Q. What is the duration and location of the public review?
The public review will be held for 30 days from April 15 to May 15, 2026.
The public review for residents will run from Wednesday, April 15, 2026, to Friday, May 15, 2026, for 30 days. The related documents can be reviewed at the Office of the Yongho 8 Redevelopment Preparation Committee and the Construction Department of Nam-gu Office. Residents wishing to submit opinions may do so in writing during the review period.
Q. What are the locational advantages and project prospects for the redevelopment project?
Located near Baegun Elementary School, the area is expected to form a significant residential community of over 1,700 units; however, careful consideration of project feasibility is necessary.
The Yongho 8 area is evaluated as a residential center within walking distance of Baegun Elementary School, with plans to form a large complex based on a wide redevelopment area. Nevertheless, careful assessment of project feasibility is needed due to various factors such as public contributions, infrastructure acquisition, and rental housing proportions.
Q. What is the procedure for the progression of the Yongho 8 redevelopment project?
It is currently in the public review stage, followed by procedures for establishing a union and obtaining business approval.
The Yongho 8 redevelopment project completed the pre-feasibility study in March 2025 and is currently in the public review phase. Subsequent administrative procedures for establishing a union and obtaining business approval are expected to take substantial time before actual construction and sales.