Dunchon Jugong Reconstruction Restart Ceremony Held... 'Lien Exercise' Banner Removed After Half a Year

Dunchon Elementary School and Dunchon Jugong Recommencement Ceremony in Gangdong-gu on the 17th
Over 300 Attendees Including Gangdong-gu Mayor Lee Soo-hee

At around 10 a.m. on the 17th, attendees including Lee Soo-hee, Mayor of Gangdong-gu, and Park Soo-hwan, Chairman of the Dunchon Jugong Association, held a tape-cutting ceremony at the restart ceremony of the Dunchon Jugong reconstruction project near Dunchon Elementary School in Gangdong-gu, Seoul. Photo by Hwang Seo-yul chestnut@

[Asia Economy Reporter Hwang Seoyul] The banner stating 'Lien Enforcement in Progress' at the Dunchon Jugong reconstruction construction site was removed after half a year. The Dunchon Jugong Reconstruction Association and the construction consortium have put an end to their conflict and held a groundbreaking ceremony on the 17th.

The association and the construction consortium (Hyundai Engineering & Construction, HDC Hyundai Development Company, Daewoo Engineering & Construction, Lotte Engineering & Construction) held the groundbreaking ceremony at 10 a.m. on the 17th near Dunchon Elementary School in Dunchon-dong, Gangdong-gu, Seoul. From this day forward, the Dunchon Jugong reconstruction project will resume construction after a six-month suspension. About 300 people attended the event, including Lee Soohee, Mayor of Gangdong-gu, Park Suhwan, the association president, and officials from the association, construction consortium, and Gangdong-gu office.

President Park said in his commemorative speech, "The suspension of the Dunchon Jugong project was a major issue for the Gangdong-gu office and even caused public concern. I am glad to ease the worries of citizens waiting for general sales and association members." He added, "Association members may still feel uneasy due to delayed move-in, relocation loan interest burdens, and additional construction costs. However, we will forget past issues with the construction consortium and move forward with mutual cooperation."

Mayor Lee, who gave a congratulatory speech, said, "The Gangdong-gu reconstruction department has worked hard. The district office will do its best to ensure the Dunchon Jugong project proceeds safely and solidly without setbacks."

The banner stating 'Lien Enforcement in Progress' that was hung at the Dunchon Jugong reconstruction site has been removed / Photo by Hwang Seoyul chestnut@

There were also remarks regarding general sales. The association plans to submit the sales price review to the district office within this week and aims for general sales in January next year. Since the Dunchon Jugong project is subject to the price ceiling system, it undergoes review by the local government’s sales price review committee rather than the Housing & Urban Guarantee Corporation (HUG).

Mayor Lee said, "We have overcome the major residents' general meeting hurdle, and although many challenges remain, there have been many demands regarding sales prices ahead of general sales. Gangdong-gu will make the best possible decisions to protect the property rights and housing rights of association members." President Park said, "Since the Ministry of Land, Infrastructure and Transport’s regulations on general sales prices have changed and construction costs have increased significantly, I think the sales price will rise compared to before."

The Dunchon Jugong reconstruction project, which was suspended on April 15 due to conflicts between the former association executive and the construction consortium, resumed after 10 a.m. on this day, six months later. This was because the conflict between the association and the construction consortium was resolved after the temporary general meeting held on the 15th approved all 23 agenda items, including the first item, 'Approval of the Construction Resumption Agreement,' as originally proposed. The temporary general meeting was attended by 5,738 of the total 6,150 association members (93 on-site and 5,645 by proxy), achieving quorum. The first agenda item was approved with 5,466 votes in favor and 180 against.

The project-related agenda items included ▲approval of the construction resumption agreement ▲execution of the construction contract amendment ▲approval and cancellation of the representative commercial group (Integrated Commercial Committee) and its duties ▲approval of the agreement between the association and the commercial reconstruction management company (PM) ▲changes to reserved land ▲budget changes for the maintenance project, totaling 22 items. The remaining item was the election of association executives (president, auditor, directors), with lawyer Park Seunghwan elected as the new association president through voting.

The Dunchon Jugong reconstruction project, known as the largest reconstruction project since the founding of Korea, plans to demolish the existing 5,930 households and rebuild into a complex of 12,032 households, with up to 35 floors above ground and 85 buildings. The association expects the move-in period as early as the end of 2024.

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