[Asia Economy Reporter Ryu Tae-min] The Byeoksan Apartment in Sanggye-dong, Nowon-gu, Seoul, which was completed 33 years ago, has conditionally passed the preliminary safety inspection, the first hurdle for reconstruction. Recently, as reconstruction complexes in the Sanggye-dong area have consecutively passed safety inspections, the reconstruction projects in the area are gaining momentum. On the other hand, due to recent tightening of safety inspection regulations, the number of complexes facing setbacks is increasing, slowing down reconstruction projects in the area.
According to Nowon-gu Office on the 27th, the Sanggye Byeoksan Apartment received a D grade in the preliminary safety inspection and was conditionally approved. To proceed with reconstruction, a grade of D or lower among A to E grades is required. This complex can now move on to the detailed safety inspection stage after passing the preliminary safety inspection.
Completed in 1989, Sanggye Byeoksan Apartment is a mid-rise complex with 9 buildings and 1,590 households, with a maximum of 15 floors above ground. It is an ultra-station area complex located right in front of Sanggye Station on Subway Line 4, consisting of units ranging from 38.7 to 84.9 square meters (exclusive area).
Earlier this year, on the 16th, Taereung Woosung Apartment faced a setback in the second detailed safety inspection for reconstruction, casting a red light on reconstruction projects in the area. Completed in 1985, Taereung Woosung is the oldest complex among the reconstruction projects in the area, and expectations were high for passing the second detailed safety inspection. However, it received 60.07 points (C grade, maintenance and repair), more than 10 points higher than the first safety inspection score of 48.98 points (D grade), which hindered progress.
As a result, the number of complexes delaying safety inspections in the area is increasing. Sanggye Jugong Complex 3 decided to postpone the ongoing detailed safety inspection on the 26th of last month. The nearby Complex 6 also concluded last month to postpone the second detailed safety inspection, originally planned for this year, to next year.
On the other hand, there is a forecast that reconstruction efforts will gain momentum again as Sanggye Jugong Complex 1 challenged the second safety inspection, the adequacy review, on the 11th. This complex received a D grade (47.5 points) in the first detailed safety inspection last month, allowing conditional reconstruction. A representative of the Complex 1 reconstruction promotion committee stated, “The detailed safety inspection score is lower than other reconstruction complexes, so we believe it is possible to pass the final hurdle as well.”
In particular, reconstruction efforts in the Sanggye-dong area have been strengthened since the inauguration of Seoul Mayor Oh Se-hoon. Complexes in this area have been evaluated as having lower profitability due to relatively lower housing prices and higher floor area ratios compared to other major reconstruction complexes. However, with Mayor Oh promising deregulation, investment demand has surged. While major reconstruction areas such as Apgujeong-dong in Gangnam-gu, Yeouido-dong in Yeongdeungpo, and Mok-dong in Yangcheon-gu have been designated as land transaction permission zones, the Nowon-gu area has avoided this designation, changing the situation.
The Moon Jae-in administration raised the weighting of structural safety, one of the evaluation items in safety inspections, from 20% to 50% in 2017 to fundamentally block reconstruction progress. As complexes repeatedly failed safety inspections and dissatisfaction grew, Seoul City officially requested in April to lower the structural safety weighting from 50% to 30%, but the Ministry of Land, Infrastructure and Transport has shown no significant movement so far.
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