[Asia Economy Reporter Donghyun Choi] A scheduled reconstruction burden charge of 402 million KRW per member has been notified for Banpo Jugong Complex 1, Section 3 in Seocho-gu, Seoul, where the Reconstruction Excess Profit Recovery System is applied. This is the highest amount ever recorded.
According to the maintenance industry on the 23rd, Seocho-gu Office notified the Banpo 3rd Section union of a scheduled reconstruction burden charge amounting to 596.56844 billion KRW. The average burden per member is 402 million KRW. This is the largest amount since the implementation of the Reconstruction Excess Profit Recovery System, significantly exceeding the 135.68 million KRW per member notified for Banpo Hyundai in 2018.
Last month, the Banpo 3rd Section union submitted data related to the calculation of the reconstruction burden charge to Seocho-gu Office, estimating an expected burden of about 440 million KRW per member. A Seocho-gu Office official explained, "After reviewing the appropriateness of the data submitted by the Banpo 3rd Section union, including project costs and sale prices, this scheduled burden charge amount was calculated."
The Reconstruction Excess Profit Recovery System is a system that recovers up to 50% of the excess amount as a burden charge if the profit earned by a union member exceeds an average of 30 million KRW per person after deducting the increase in nearby house prices and costs. It was first implemented in 2006, suspended from 2013 to 2017, and reinstated in January 2018. The Constitutional Court ruled the system constitutional at the end of last year.
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