Gwangju Hak-dong 4 District Eyes General Sale This Month, Offering 1,387 Units

Model home opening planned... Subscription schedule and sale prices not finalized
59-135 sq. m. units on offer... Completion targeted for May 2029
Sales results in focus amid weak subscription performance at Champions City

The “IPARK Mudeungsan Sky Foret” apartment complex, part of the redevelopment of Hak-dong 4 District in Dong-gu, Gwangju, is planning to launch general sales this month. Of the 2,299 units in total, 1,387 are slated for general sale. Specific subscription dates and sale prices have not yet been finalized.

According to the construction contractor, IPARK Hyundai Development Company, and the Hak-dong 4 District Housing Redevelopment Association, the project plans to open a model house in Nongseong-dong, Seo-gu, Gwangju, this month before accepting subscriptions for the units on general sale.

Exterior of the model home for "IPARK Mudeungsan Sky Fore" in Nongseong-dong, Seo-gu, Gwangju. Photo by Song Bohyeon.

The complex will be built in the Hak-dong area of Dong-gu, Gwangju, with three basement levels and 29 floors above ground across 19 buildings, comprising 2,299 units in total. Excluding units allocated to association members and rental units, 1,387 units with exclusive floor areas of 59 to 135 square meters will be available for general sale.

By exclusive floor area, the units comprise 293 of 59 square meters, 385 of 74 square meters, 593 of 84 square meters, 94 of 101 square meters, 13 of 120 square meters, five of 125 square meters, and four of 135 square meters. Units measuring 84 square meters account for the largest share of the total general-sale supply.

The association initially pursued the relevant procedures with the aim of launching general sales last month, but the schedule was pushed back to this month. In a notice to association members on October 29, however, the association said that no specific sales schedule had been finalized. It said it would announce the schedule after concluding discussions with the construction contractor on the sales terms and completing the relevant procedures.

Artist's rendering of the redevelopment project in Hak-dong Zone 4, Dong-gu, Gwangju. Provided by IPARK Hyundai Development Company.

Earlier, at its regular general meeting in July, the association approved nine agenda items, including changes to the construction contract, the design, and the project implementation plan. It decided to keep the existing contract price at 6,198,000 won per 3.3 square meters, below the Korea Real Estate Board’s verified amount of 6,308,000 won per 3.3 square meters.

The construction contractor is highlighting the complex’s proximity to Namgwangju Station on Gwangju Metro Line 1 and a transfer station on Line 2, which is scheduled to open in the future, as well as the academies in Bongseon-dong, Chonnam National University Hospital, Chosun University Hospital, Chosun University, and other nearby educational and medical facilities.

Local real estate industry officials are also watching the results of the subscription process for these general-sale units. In September, “All New Champions City Phase 1,” which is being built on the former site of Jeonbang and Ilshin Spinning in Im-dong, Buk-gu, Gwangju, received 3,641 applications for 2,932 units offered through general supply, recording an average competition ratio of 1.24 to 1. Some unit types received fewer applications than the number of units available.

Construction on the Hak-dong 4 District redevelopment project began on December 24, 2025, and is underway with completion targeted for May 2029.

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