Yangcheon District Announces Project Executor for Mokdong 9 Complex Reconstruction Just 19 Days After Application

Up to 49 Stories, 3,957-Unit Mega Complex Planned
"Prompt Administration" Accelerates Project Speed

Yangcheon District Office in Seoul (headed by District Mayor Lee Kijae) announced on October 30 that it has designated and officially notified Korea Asset Trust as the project executor for the Mokdong 9 Complex apartment reconstruction and maintenance project. This announcement came just 19 days after the landowners applied on September 29, highlighting the district office's prompt administrative support procedures.

Perspective view of Mokdong 9 Complex. Provided by Yangcheon District Office.

Of the 14 Mokdong apartment complexes, eight are currently pursuing maintenance projects through a trust-based method. Prior to the 9 Complex, the designation and notification of project executors had already been completed for Complexes 10, 13, and 14. The district office plans to further strengthen administrative support to ensure that the remaining complexes can also undergo swift designation procedures.

Korea Asset Trust, designated as the project executor, will be responsible for the overall project, including confirming the maintenance project implementation regulations, contracting with professional management companies, and selecting designers and construction companies through meetings composed of all landowners. The company will oversee every stage from financing to design, construction, and sales, aiming to ensure professionalism, transparency, and efficient project execution.

The Mokdong 9 Complex reconstruction will apply a floor area ratio of approximately 300% to a site area of 183,057.8 square meters, transforming the current 15-story, 2,030-unit complex into a development with up to 49 stories and a total of 3,957 units. A new public pedestrian passage will connect the center of Mokdong with nearby low-rise residential areas, and infrastructure such as roads, parks, and public facilities will be upgraded in parallel, significantly improving the residential environment and living infrastructure.

Meanwhile, the entire Mokdong apartment complex is a large-scale residential area representing the southwestern region of Seoul. On October 1, the maintenance plans for Complexes 1 to 3 passed the review of the Seoul City Urban Planning Committee, effectively completing the blueprint for the reconstruction of all 14 complexes. Upon completion, the area is expected to become a new residential town with approximately 48,000 households, equivalent to a new city.

Lee Kijae, Mayor of Yangcheon District, stated, "I hope that the reconstruction of the four complexes for which the project executor designation has been completed will proceed more transparently and systematically. We will work closely with Seoul City and related agencies to ensure that all 14 complexes are designated as maintenance zones within the year and to shorten the project period as much as possible."

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