Gwangjin District Approves Establishment of Redevelopment Cooperative for 2,999-Unit Jayang 4-dong Area A

Spanning 139,130 Square Meters, 80.56% Approval Rate
Planned: 19 Buildings, 3 Basement to 49 Above-Ground Floors

On September 11, Gwangjin District Office in Seoul (District Mayor Kim Kyungho) announced that it has approved the establishment of the cooperative for the 'Jayang 4-dong Area A Housing Redevelopment and Maintenance Project' located at 57-90 Jayang-dong and surrounding areas. With the approval, the project to redevelop the aged low-rise residential area into a large-scale apartment complex has completed the organizational step and is now fully underway.

Location map of Jayang 4-dong Area A. Provided by Gwangjin District.

Jayang 4-dong Area A covers 139,130 square meters, with its maintenance plan finalized and officially designated and announced as a redevelopment zone in July last year. In July this year, the cooperative held an inaugural general meeting, elected a cooperative president and executives, and then submitted its application for approval to Gwangjin District Office this August. The district reviewed the articles of association, eligibility of officers and representatives, matters resolved at the founding meeting, and whether land and property owners had agreed, before granting approval. A total of 80.56% of 1,559 land and property owners agreed to form the cooperative, meeting the legal threshold.

According to the architectural plan, the area will feature 19 residential buildings ranging from three basement floors to 49 above-ground floors, providing a total of 2,999 apartment units and neighborhood living facilities. The district is comprised of Class 1, Class 2 (up to 7 stories), and Class 3 general residential zones. However, the number of units and the scale of construction may be adjusted during the implementation plan approval process in the future.

This area was selected as a second-round candidate site in Seoul’s Fast-Track Integrated Planning initiative in December 2022, which has propelled the redevelopment effort. According to the maintenance industry, there was a pre-existing Seonghwa Apartment Redevelopment Cooperative within the redevelopment area, which had obtained cooperative approval in 2017. The overlapping of two cooperatives within a single area had to be resolved before the new cooperative could be established, and this issue has now been addressed. The cooperative plans to hold a general assembly within the year to select a specialist maintenance management firm and a designer, then proceed with the contractor selection process starting next year.

District Mayor Kim Kyungho stated, "The approval of the cooperative marks a true starting point for improving the residential environment in Jayang 4-dong Area A. We will carefully oversee the project’s progress in response to residents’ long-awaited hopes, and provide full administrative support to ensure the redevelopment proceeds smoothly."

Bird's-eye view. Provided by Gwangjin District.

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