Ichon Hangang Mansion Rechowan Burden 'Record High'... 770 Million KRW Expected Per Household

Hangang Mansion Apartment located in Ichon 1-dong, Yongsan-gu

[Asia Economy Reporter Lee Seung-jin] The reconstruction complex of Hangang Mansion in Ichon-dong, Yongsan-gu, Seoul, is estimated to face a burden of over 700 million KRW per household due to the Reconstruction Excess Profit Recovery System (재초환).

On the 22nd, according to the Korea Real Estate Board and the maintenance industry, the Real Estate Board recently notified the reconstruction association of this apartment of a scheduled reconstruction burden amount averaging 770 million KRW per household.

This amount is the highest among the scheduled amounts notified so far, nearly twice the 400 million KRW initially expected by the association. With the government announcing a major reform of the Reconstruction Excess Profit Recovery System next month, attention is focused on the impact this will have on the reconstruction process going forward.

The reconstruction burden is first notified as a scheduled amount after the project implementation approval, and the final confirmed burden is notified based on the price at the completion and project closure, so the burden is not paid exactly according to this amount.

The association is reportedly taken aback by the higher-than-expected burden. The current burden is calculated based on the previous 35-story design, and the association plans to apply for a recalculation of the reconstruction burden after changing the design to 68 stories.

The maintenance industry is closely watching the government's reconstruction burden improvement plan to be announced next month. The government is currently discussing ways to reduce excessive burdens.

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