Yeouido's First Management Approval: Daegyo Apartment Sets Fastest Record at 2 Years 4 Months...Construction to Begin Next Year [Real Estate AtoZ]

Transforming from 576 to 912 Units

Yeouido Daegyo Apartments in Yeongdeungpo-gu, Seoul, received official approval for the management and disposal plan from the Yeongdeungpo District Office on May 19, just 2 years and 4 months after the association was established. This achievement sets a new record for the shortest period in the history of reconstruction projects, marking the beginning of full-scale relocation and demolition.

The Yeouido Daegyo Apartment Reconstruction Maintenance Project Association announced on the 21st that it obtained approval for the management and disposal plan, the final administrative step in reconstruction, just 28 months after its establishment in January 2024.

Yeouido Daegyo Apartments, Yeongdeungpo-gu, Seoul. Yeouido Daegyo Apartments Reconstruction Maintenance Project Association

The association stated, "This is 11 months shorter than the previous record held by Raemian One Bailey (formerly Banpo Kyungnam Apartments), which took 3 years and 3 months," adding, "This is the fastest pace in the history of reconstruction in Korea."

Although the document review period, which usually takes about a month, included the Lunar New Year holiday, association members handled administrative work without breaks, allowing the schedule to be accelerated.

The association plans to begin resident relocation and building demolition in the second half of this year, with construction expected to start next year.

The existing 12-story, 576-unit apartment complex built in 1975 will be transformed by 2031 into a development with up to 49 floors, four buildings, and 912 units.

Samsung C&T Corporation will be responsible for construction, with the British design firm Heatherwick Studio participating in the design.

Yeouido Daegyo Apartment Reconstruction Rendering. Samsung C&T Corporation

At the top of the apartment complex, the four buildings will be organically connected to create a space where residents can enjoy views of the Han River.

At the center of the lower levels of the complex, a garden will be created for residents to enjoy leisurely walks, and a skywalk will be installed to allow easy access to community facilities.

Jung Heesun, head of the Daegyo Apartment Reconstruction Association, said, "Having completed all administrative approvals, we are now entering the practical development phase, starting with relocation and demolition, followed by construction. Although we expect a more challenging environment than before, we will prioritize consensus among association members and keep moving forward."

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