"'Dwaeji Super' Ahyeon 1 Maintenance Zone Designation Countdown... 'No Share Splitting Allowed'"

Seoul City Designates August 20 as Reference Date for Redevelopment Rights in Ahyeon-dong 699 Area
City Official: "Increase in Households Will Raise Project Burden and Cause Damage"
New Villas Proliferated After Maintenance Zone Cancellation, Activity Restrictions Imposed Last Year
Maintenance Zone Expected to Be Designated After Resident Review

(Seoul=Yonhap News) Reporter Kang Min-ji = The film "Parasite," which won four awards including Best Picture at the 92nd Academy Awards, is drawing attention from movie fans to various locations in Seoul where it was filmed. The photo shows "Woori Super," a store featured in the movie, and its surrounding area in Ahyeon-dong, Mapo-gu, Seoul.

[Asia Economy Reporter Onyu Lim] The designation of Ahyeon 1 District (tentative name) in Mapo-gu, Seoul, which became famous as the pig supermarket in director Bong Joon-ho's film "Parasite," is entering its final countdown.

On the 25th, according to Seoul City and the real estate industry, the city recently designated and announced August 20 as the reference date for rights calculation for Ahyeon 1 District around 699 Ahyeon-dong, Mapo-gu. The designation of the reference date for rights calculation is a measure under Article 36, Paragraph 2 of the "Seoul Metropolitan City Urban and Residential Environment Improvement Ordinance." Even if buildings are newly constructed or a single house is divided into two or more houses after this date, residents will not receive redevelopment move-in rights. This is a measure to prevent the splitting of shares and other actions to secure move-in rights before the district designation.

Ahyeon 1 District was originally divided into three districts for redevelopment. Among them, Ahyeon 1-3 District saw the construction of Ahyeon I-Park in 2017. On the other hand, 1-1 and 1-2 Districts were removed from the maintenance district, and later, at the residents' request, the districts were integrated into Ahyeon 1 District to proceed with the project. However, after the removal from the maintenance district, more than 100 newly built villas proliferated, causing problems such as share splitting. Share splitting refers to methods like converting a single-family house into a multi-family house to increase the number of eligible move-in rights holders.

With the designation of this reference date for rights calculation, the owners with move-in rights in Ahyeon 1 District have been confirmed. Even if land division, conversion of single-family or multi-family houses into multi-unit houses, new construction, or separate acquisition of land and buildings occur after this date, there is no right to receive new building allocations. A Seoul city official explained, "If the number of households increases, the redevelopment project costs for local residents inevitably increase," adding, "This measure is to minimize such damage and suppress speculation." Acts such as building new villas or dividing land within Ahyeon 1 District are already prohibited. Mapo-gu Office imposed activity restrictions on Ahyeon 1 District in January last year.

Ahyeon 1 District is expected to be designated as a maintenance district soon after public inspection by residents. It is a station area within walking distance of Ahyeon Station on Subway Line 2 and Chungjeongno Station on Lines 2 and 5, and is considered the best location among Ahyeon New Town areas. A representative from A Real Estate Agency in Ahyeon-dong said, "Although transactions have decreased since the announcement of the July 10 measures, the asking prices for sales have risen by about 50 million to 100 million won as the maintenance district designation approaches."

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