Chaos at Dunchon Jugong... Union Holds Rally Demanding "Rapid Land Price Appraisal" from Gangdong District Office

[Asia Economy Reporter Lee Chun-hee] The reconstruction of the mammoth-scale Dunchon Jugong Apartment complex in Gangdong-gu, Seoul, is falling into a deadlock. This complex, scheduled for reconstruction with a total of 12,032 households, is a large-scale complex with 4,786 units planned for general sale. However, internal conflicts within the association have erupted over the application of the private land price ceiling system that began on the 29th.

On the 30th, the Dunchon Jugong Apartment Reconstruction Association held a rally in front of Gangdong-gu Office demanding "the prompt progress of the land price appraisal under the price ceiling system," stating, "We demand swift and fair administration to guarantee the members' right to choose," and requested the district office to "quickly proceed with the land price appraisal under the price ceiling system." About 70 association members, including executives, attended the rally.

Currently, the Dunchon Jugong Association received a sales guarantee certificate from the Housing and Urban Guarantee Corporation (HUG) on the 24th with an average sales price of 29.78 million KRW per 3.3㎡ and applied for the resident recruitment announcement to Gangdong-gu Office on the 27th. If Gangdong-gu Office accepts this, Dunchon Jugong can avoid the private land price ceiling system implemented from the 29th.

On the 30th, the executive committee and members of the Dunchon Jugong Apartment Reconstruction Association held a rally in front of Gangdong-gu Office in Seoul. (Provided by Dunchon Jugong Apartment Reconstruction Association)

However, as conflicts over the sales price between the association's executive branch and the emergency countermeasure committee intensify, it remains uncertain whether sales will proceed at the current price. The countermeasure committee states that they cannot accept the sales price negotiated between HUG and the current executive branch and believes that selling under the price ceiling system would be more beneficial for the members.

The current executive branch holds the position that under the price ceiling system, general sales can be made at a maximum of 26.37 million KRW per 3.3㎡. On the other hand, the countermeasure committee argues that even under the price ceiling system, the sales price can be set as high as 36 million KRW per 3.3㎡.

The countermeasure committee has announced a general meeting on the 8th of next month to dismiss all executives. Furthermore, since Lee Jeong-hoon, the head of Gangdong-gu Office, who has the authority to approve the resident recruitment announcement, has promised to suspend all administrative procedures until before the dismissal meeting, the association's plans are considered impossible.

Meanwhile, the executive branch intends to hold a general meeting on September 5. Through this, they plan to compare the HUG sales price and the price ceiling system sales price, and if the price ceiling system price is higher, all executives will resign and accept sales under the price ceiling system.

However, for this comparison to be practically conducted, the land price appraisal by Gangdong-gu Office must precede. The association plans to complete the appraisal and calculate the price ceiling system sales price by mid-next month. But since the district head has stated that related administrative procedures will be suspended until the results of the dismissal meeting next month are out, the sales schedule of Dunchon Jugong is becoming even more uncertain.

This content was produced with the assistance of AI translation services.