Daewoo Industrial Development Supports Compensation for Move-in Delays at Busan 'Ian Ocean Park W'

Ian Ocean Park W, Uam-dong, Nam-gu, Busan / Photo by Daewoo Industrial Development

[Asia Economy Reporter Hwang Seoyul] Daewoo Industrial Development has decided to support the costs incurred by prospective residents due to the delayed move-in at 'Ian Ocean Park W' in Busan.

Daewoo Industrial Development, the construction company for 'Ian Ocean Park W' in Nam-gu, Busan, announced on the 21st that on the 13th, at the start of move-in, they provided telephone guidance to prospective residents regarding the application process for compensation due to move-in delays. Since the developer, who is directly responsible for the delay, has been passive in addressing compensation, the construction company is stepping in to advance the compensation payments.

To facilitate on-site compensation applications, Daewoo Industrial Development will operate a separate Customer Satisfaction Center within the Move-in Support Center until the 24th. Compensation covers additional costs incurred due to the delay, including ▲storage fees for moving belongings, ▲moving expenses, ▲accommodation and short-term rental costs, and ▲meal expenses during the delay period. Prospective residents can receive full reimbursement by submitting supporting documents for these expenses.

'Ian Ocean Park W' began construction in 2020 and experienced some delays from the early stages due to contaminated soil and the COVID-19 situation. Despite requiring approximately five additional months for extra work such as soil decontamination, the construction company Daewoo Industrial Development obtained the final completion and usage approval on the 12th to facilitate residents' smooth move-in.

A Daewoo Industrial Development official stated, "To minimize the damage caused by the move-in delay, as the construction company, we have prepared prompt completion of construction as well as our own compensation support measures."

'Ian Ocean Park W' is located in the Uam-dong area of Nam-gu, Busan, consisting of two buildings with one basement floor and 19 above-ground floors, a total floor area of approximately 22,000 square meters, and 155 households. The housing types are composed of ▲59㎡A (exclusive area) with 51 units, ▲59㎡B with 25 units, ▲72㎡ with 45 units, and ▲84㎡ with 34 units.

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