Remodeling 'Biggest Catch' Garak Ssangyong Passes First Safety Inspection for Vertical Extension

Construction Cost of 800 Billion Won, Largest Ever
Expansion by 3 Floors... From 2,064 to 2,373 Households
First and Second Safety Reviews Completed, Additional Second Safety Inspection Underway

Panoramic view of Garak Ssangyong 1st Apartment Complex in Garak-dong, Songpa-gu, Seoul (Photo by Asia Economy DB)

[Asia Economy Reporter Ryu Tae-min] The Garak Ssangyong 1st Apartment in Songpa-gu, Seoul, a large complex with over 2,000 households in the Gangnam area, is attracting attention for its remodeling project as it has passed the first safety inspection, raising expectations for the project.

According to the maintenance industry on the 28th, Garak Ssangyong 1st recently received a B grade in the first remodeling safety inspection, which allows for vertical extension. Unlike reconstruction, remodeling projects require a high safety inspection grade to proceed. If a C grade or higher is obtained, horizontal annex remodeling is possible, but to pursue the more profitable vertical extension method, a B grade or higher is required.

Completed in 1997, this apartment complex consists of 14 buildings ranging from 3 basement floors to 24 above-ground floors, with a total of 2,064 households. The estimated construction cost alone is 800 billion KRW, making it the largest remodeling project in Korea's history. The construction consortium selected includes Ssangyong Construction, POSCO Construction, Hyundai Engineering, and Daewoo Construction.

The complex is expected to be reborn as a 14-building complex with 2,373 households, ranging from 5 basement floors to 27 above-ground floors, through a three-floor vertical extension remodeling. The 309 additional households created by the remodeling are all planned for general sale. The existing 59㎡ (exclusive area) 1,032 households will be expanded to 74㎡, and the 84㎡ 1,032 households will be expanded to 104㎡. The number of parking spaces will also increase from 2,022 to 3,590.

Vertical extension is a method of adding floors to increase the number of households, enhancing profitability. If the existing apartment has 14 or more floors, two floors can be added; if it has 15 or more floors, three floors can be added. The number of households can increase by up to 15%, making it more preferred than horizontal extension.

Although it has passed the first safety inspection, many hurdles remain. Unlike horizontal annex extension, which only requires the first safety inspection, vertical extension remodeling must also undergo first and second safety reviews and a second safety inspection. Since the amendment of the Housing Act in 2013 allowing vertical extension remodeling, the only complex to have passed both the first and second safety reviews is the Seongji Apartment in Songpa-dong in 2019.

Meanwhile, prior to Garak Ssangyong 1st, the 811-household Gildong Woosung 2nd in Gangdong-gu received a B grade in the first safety inspection last month and is pursuing vertical extension. In the case of Daechi 2 Complex in Gaepo-dong, Gangnam-gu, the plan is to prove the safety of vertical extension through a public experiment for the second safety review.

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