Korea Land Trust Signs Business Agreement with Ilsan Seondo District 'Hugok Village' Integrated Reconstruction Preparation Committee

by Han Jinjoo

Published 28 Mar.2025 15:46(KST)

Preparation Committee Aims to Designate Special Maintenance Zone Within the Year

Korea Land Trust announced on the 28th that it has signed a business agreement with the Preparation Committee for the Integrated Reconstruction of Hugok Village Complexes 3, 4, 10, and 15 in Ilsan New Town, which was selected as a leading district in the 1st phase new town project.

Korea Land Trust Signs Business Agreement with Ilsan Seondo District 'Hugok Village' Integrated Reconstruction Preparation Committee

The Hugok Village Preparation Committee plans to complete the designation of a special maintenance zone within the year by promoting the project swiftly through a trust method. According to the committee, 92% of all property owners agreed to the reconstruction during the leading district application, showing a strong willingness to proceed with the project. Additionally, a resident survey conducted in February on the leading district promotion method revealed that 8 out of 10 residents across the four complexes preferred the trust method.

The integrated reconstruction of Hugok Village consists of a total of 2,564 households across four complexes: Hyundai, Kumho Hanyang, Dong-A Seoan Imkwang, and Geonyeong Apartments. It is located in a prime station area adjacent to Ilsan Station on the Gyeongui-Jungang Line and Seohae Line. Along the southern side of the project site on Ilsan-ro, there is a representative academy district of Ilsan. Complex 3 houses Sinchon Elementary School, and Complex 10 houses Shinil Elementary School, making it a "Chopooma" (elementary school nearby) complex. With elementary, middle, and high schools within walking distance, it is a clean residential area free from harmful environments, making it highly preferred for living.

The Hugok Village Preparation Committee stated, "By signing a business agreement with Korea Land Trust, a leading company in trust-based maintenance projects, we expect to promote the project more quickly and efficiently through the trust method."

A Korea Land Trust official said, "We will do our best to meet the strong will and expectations of the residents regarding reconstruction," adding, "We will focus on speedy project promotion and thorough risk management."