Seongnam City Completes Designation of Project Implementers for All Four Leading Bundang Districts... Reconstruction Enters Full Implementation Phase

Seongnam City Designates Project Implementer for Yangji Village
Yangji Village Project for 6,839 Households Begins
Full-scale Redevelopment of Bundang Old Planning City Underway

Shin Sang-jin, Mayor of Seongnam City, Gyeonggi Province, has designated the project implementer for Yangji Village, the leading redevelopment district in Bundang Old Planning City. With this designation, all four leading districts in Bundang have completed the process of selecting project implementers. As a result, the Bundang reconstruction project has officially entered the implementation phase.

Panorama of the old planned city in Bundang. Provided by Seongnam City

On July 27, Seongnam City announced that Daishin AMC Co., Ltd. has been designated and officially notified as the project implementer for Yangji Village (District 32) in Sunae-dong, Bundang-gu.

The Yangji Village reconstruction project, designated as a special maintenance district in January this year, covers an area of 291,584.3 square meters at 24 Sunae-dong. The plan calls for the creation of a residential complex with up to 37 floors and a total of 6,839 households. Upon completion, an additional 2,447 households will be supplied compared to the existing stock, and infrastructure such as roads, parks, and parking lots will also be improved and expanded, significantly enhancing the residential environment.

Previously, in June, Seongnam City completed the designation of project implementers for the Pilot Complex (District 23·S6 combined), Saetbyeol Village (District 31·S4 combined), and Mokryeon Village (District 6·S3 combined). With the designation of Yangji Village, the process of appointing project implementers for all four leading districts in Bundang has been finalized, allowing the reconstruction project to fully enter the implementation phase.

The city has advised citizens planning real estate transactions within these districts to exercise caution following the appointment of project implementers.

According to the Urban and Residential Environment Improvement Act, in a reconstruction project located in a speculation-prone district, those who purchase buildings or land after the official announcement of the project implementer are, in principle, not eligible to become union members (i.e., recipients of unit allocations). The city noted, however, that there are exceptions stipulated by law, so all relevant regulations should be thoroughly checked before any transaction.

Mayor Shin Sang-jin stated, "With the designation of a project implementer for Yangji Village, all four leading districts in Bundang have now completed the designation process, providing a stable foundation for advancing the reconstruction projects. Going forward, we will spare no administrative and financial support to ensure that the redevelopment of Bundang Old Planning City proceeds both properly and swiftly."

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