Court Orders Hyundai Engineering & Construction to Return Apgujeong District 3 Land to Actual Owners

The court has issued a settlement recommendation ordering Hyundai Engineering & Construction to return ownership of certain parcels of the Apgujeong-dong Hyundai Apartments to the actual owners.

Yonhap News Agency

According to legal sources on October 18, the Seoul Central District Court stated that Hyundai Engineering & Construction must transfer two parcels from the Apgujeong District 3, Phase 3 and 4 Apartments to their original owners without conditions. A total of 125 owners of the Phase 3 and 4 apartments filed a lawsuit to reclaim their ownership rights, with the parcels valued at approximately 125 billion won based on current market prices.

Apgujeong District 3 is designated as a special planning zone by the Seoul Metropolitan Government, covering a total area of 360,187.8 square meters and currently housing 3,946 households. It is located at the center of the six Apgujeong apartment zones, where Hyundai Phases 1 through 7, 10, 13, and 14 are situated. Nine parcels of land (totaling 40,706.6 square meters) for the Hyundai Phase 3 and 4 Apartments are owned by the Seoul Metropolitan Government, Hyundai Engineering & Construction, and HDC Hyundai Development Company. The issue arose because, during the registration process, only the building ownership was transferred to the buyers, while the land ownership was not.

A settlement recommendation is a decision by the court advising both parties to reach an agreement under specified terms. If neither party files an objection within two weeks, the recommendation carries the same effect as a final judgment. If an objection is filed, the lawsuit proceeds.