Table of Contents
Prugio Oceanity / Gwang-an-dong 373 Block Residential Redevelopment Project: Project Implementation Plan Approval and Topographic Map Notification
- Gwang-an-dong 373 area, progress, apartment investment in Gwangalli, Suyeong-gu
The Gwang-an-dong 373 Block residential redevelopment project taking place in the Gwang-an-dong 373 area of Busan has officially received project implementation plan approval. According to the relevant notification, this approval takes effect on April 20, 2026, with a total area of the redevelopment zone amounting to 9,302㎡.
The project executor is reported to be Daehan Land Trust Co., Ltd., and the execution period is set for a total of 120 months from the date of approval. This project is expected to positively impact local development.
This project is structured with 6 underground floors and 43 above-ground floors, consisting of 4 apartment buildings with 447 residential units and 52 officetels. The land area is 9,302㎡, and the total floor area amounts to 94,532.8051㎡. Based on this, the floor area ratio is 775.38%, and the maximum height reaches 129.18m.
The construction is being handled by Daewoo Engineering & Construction, which contracted the project in June 2025 and suggested the name 'Prugio Oceanity' for the complex. The total construction cost of this project has been reported to be approximately 230.5 billion won.
In the residential redevelopment project, obtaining the project implementation plan approval is a crucial process that legally finalizes the execution plan. This project is carried out under the "Special Act on the Management of Vacant Houses and Small-Sized Housing," based on the approved plan for the construction and supply of housing.
Additionally, this notification also addressed other legal approvals such as project plan approval under the "Housing Act" and building permits according to the "Building Act." As a result, Gwang-an-dong 373 Block can be understood as having moved beyond the conceptual stage of a union and trust structure to a state where the architectural plan, number of units, infrastructure, and sale plan are administratively finalized.
Ultimately, this signifies that the residential redevelopment project has made further progress.
The Gwangalli area is a very attractive place in terms of living environment. A new road with a width of 6 to 10m will be constructed at this project site, with a total length of 279m. The road within the area will be dealt with in a donation method after construction.
Given the high residential preference in Gwangalli Beach and Suyeong-gu, the supply of high-rise residential facilities will be a significant factor. The sale price and subscription results of the planned 330 units for general sale are expected to be crucial criteria for assessing the project's feasibility.
In relation to this, detailed supply plans by type are also prepared.
| Type | Total Units | Landowners | General Sale | Reserved Facilities |
| Type 59 | 74 | 23 | 49 | 2 |
| Type 84 | 265 | 55 | 209 | 1 |
| Type 114 | 108 | 35 | 72 | 1 |
| Total | 447 | 113 | 330 | 4 |
Busan Metropolitan City Suyeong-gu Notification No. 2026-42
Notification of Project Implementation Plan Approval and Topographic Map for Gwang-an-dong 373 Block Residential Redevelopment Project
The "Gwang-an-dong 373 Block Residential Redevelopment Project," designated as the project executor for the area around 373 Gwang-an-dong, Suyeong-gu, Busan (Busan Metropolitan City Suyeong-gu Public Announcement No. 2021-22, dated March 23, 2021), is hereby notified of the project implementation plan approval and topographic map according to the provisions of Article 29 of the "Special Act on the Management of Vacant Houses and Small-Sized Housing" and announced as follows in accordance with Article 32 of the "Land Use Planning and Control Act" and Article 8 of the "Basic Act on Land Use Regulation".
April 29, 2026
The Mayor of Suyeong-gu, Busan
1. Type and Name of the Redevelopment Project
: Gwang-an-dong 373 Block Residential Redevelopment Project
2. Location of the Redevelopment Area
：Area around 373 Gwang-an-dong, Suyeong-gu, Busan
3. Area of the Redevelopment Zone
：9,302㎡
4. Name and Address of the Project Executor
a. Name of the corporation: Daehan Land Trust Co., Ltd.
b. Office address: 26th Floor, 517 Yeongdong-daero, Gangnam-gu, Seoul (Samseong-dong, ASEM Tower)
c. Name and address of the representative: CEO Park Jong-cheol (same address)
5. Duration of the Redevelopment Project
：120 months from the date of project implementation plan approval
6. Date of Project Implementation Plan Approval
：April 20, 2026.
7. Details of land or buildings to be acquired or used and details of rights other than ownership
: Not applicable
8. Matters related to the construction plan of the buildings, including site area, building coverage ratio, floor area ratio, height, and use.
| Classification | Content | Classification | Content |
| Site Area | 9,302.00㎡ | Building Area | 3,585.3897㎡ |
| Building Coverage Ratio | 44.31% | Total Floor Area | 94,532.8051㎡ |
| Floor Area Ratio | 775.38% | Maximum Height | 129.18m |
| Primary Use | Residential (apartments) and ancillary facilities | Number of Floors | Apartments (6 underground floors, 43 above-ground floors) |
| Number of Buildings | 4 Apartment Buildings | Number of Units | 447 Residential Units / 52 Officetels |
9. Housing Scale and Housing Construction Plan
| Supply Classification | Residential (Apartments) | |||
| Type | Exclusive Area (㎡) | Number of Units | Composition Ratio | |
| Apartments | Type 59A | 59.9855 | 37 | 8.28% |
| Type 59B | 59.9960 | 37 | 8.28% | |
| Type 84 | 84.9875 | 265 | 59.28% | |
| Type 114 | 114.9691 | 108 | 24.16% | |
| Subtotal | 39,377.6658 | 447 | 100% | |
| Notes | ||||
10. Size of Sold or Reserved Properties and Sale Plan
| Target for Supply | Residential (Apartments) | Neighborhood Commercial Area (㎡) | Other Building Area (㎡) | ||||
| Total | 59A (59.9855) | 59B (59.9960) | 84 (84.9875) | 114 (114.9691) | Officetel (167.5223) | ||
| Total | 447 | 37 | 37 | 265 | 108 | 2,195.7769 | 8,711.1681 (52 units) |
| Landowners | 113 | 16 | 7 | 55 | 35 | ||
| General Sale | 330 | 20 | 29 | 209 | 72 | ||
| Reserved Facilities | 4 | 1 | 1 | 1 | 1 | ||
| Rental | - | - | - | - | - | ||
11. Matters Related to the Assignment of Redevelopment Infrastructure
| Type of Facility | Name | Location | Scale | Scope of Execution | Details of the Land Affected | Remarks | ||||
| Land | Building | Others | ||||||||
| Parcel | Area | Number | Total Floor Area | |||||||
| Road | Redevelopment Infrastructure Road | ▶Start Point: Gwang-an-dong 1307-12▶End Point: Gwang-an-dong 373-122 | 1,210㎡B=6~10mL=279m | Newly established (new section within the area to be donated after construction) | 24 | 1,210㎡ | - | - | - | Fully borne by the executor |
12. Indications of Approvals and Permits under Other Laws
a. Approval of the Project Plan under Article 15 of the "Housing Act"
b. Building permit under Article 11 of the "Building Act"
c. Indications of approvals under Article 55 of the "Special Act on the Management of Vacant Houses and Small-Sized Housing" (if relevant documents prescribed by the law are submitted)
13. Other Relevant Documents: Omitted
※ The topographic map under Article 8 of the "Basic Act on Land Use Regulation" can be reviewed at Land Connection (http://www.eum.go.kr). End.
Classification
Notification
Agency Classification
County
Agency
Suyeong-gu
Notification Number
No. 2026-42
Title
Notification of Project Implementation Plan Approval and Topographic Map for Gwang-an-dong 373 Block Residential Redevelopment Project
Date
2026-04-29
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Frequently Asked Questions (FAQ)
Q. What are the project implementation plan approval date and execution period for the Gwang-an-dong 373 Block Redevelopment Project?
The project implementation plan approval date is April 20, 2026, and the execution period is 120 months.
The Gwang-an-dong 373 Block Residential Redevelopment Project received project implementation plan approval on April 20, 2026. This approval is a crucial process that legally confirms the execution of the project. The project executor is Daehan Land Trust Co., Ltd., and the project is expected to proceed for a duration of 120 months, or 10 years, from the date of approval. This period encompasses all processes including planning, construction, and selling.
Q. What is the main architectural and housing scale configuration of Prugio Oceanity?
It consists of 6 underground floors and 43 above-ground floors, with 4 apartment buildings containing 447 units and 52 officetels.
Prugio Oceanity is the project name for the Gwang-an-dong 373 Block Residential Redevelopment Project. The project site covers 9,302㎡ and the total floor area reaches 94,532.8051㎡. The complex is designed to have 6 underground floors and 43 above-ground floors, including 4 apartment buildings with 447 residential units and 52 officetels. The floor area ratio is projected to be 775.38%, and the maximum height is planned to be 129.18m.
Q. How will the newly constructed road and infrastructure in this project be managed?
The new 279m road will be managed through a donation method, and the infrastructure will also be maintained.
A new road will be constructed in the area of Gwang-an-dong 373, with a width of 6 to 10m and a length of 279m. After the completion of the project, this road will be donated to the relevant local government for management. The infrastructure is also included in the project plan and the necessary approvals and plans have been finalized administratively to ensure smooth installation and maintenance. This is expected to contribute to improving the local living environment.
Q. What legal effects does obtaining project implementation plan approval have?
It establishes the legal basis for housing construction and supply, and integrates the relevant permits and approvals.
By obtaining the project implementation plan approval, the legal basis for constructing and supplying housing under the "Special Act on the Management of Vacant Houses and Small-Sized Housing" is established. Additionally, various approval matters, such as project plan approval under the Housing Act and building permits under the Building Act, are integratively processed, streamlining the administrative procedures. This indicates that the project has progressed beyond the concept stage of the union and trust structure to a specific execution phase involving actual construction and sales.
Q. What is the investment attractiveness of the Gwang-an-dong 373 Block Project in the Gwangalli area?
High residential preference and the supply of high-rise housing facilities and sale results are investment points.
Gwangalli is an area with excellent living conditions and high real estate value in Suyeong-gu. The project site is highly attractive for investment due to its proximity to the beach and the expansion of infrastructure, including new road construction. In particular, the supply of high-rise apartments and officetels in Prugio Oceanity meets local demand, and the selling price and subscription outcomes for the planned 330 units are expected to be crucial criteria for assessing the project's feasibility. Consequently, it is a promising area for both investors and actual users.
