Hannam 3 District Residents Move in October... Signal for Yongsan Development Launched

Yongsan-gu Approves Management Disposition Plan for Hannam 3 District Redevelopment

Announcement of Approval for Hannam 3 District Redevelopment Management Disposition Plan in June 23rd Issue of District Gazette

Approximately 4 years and 3 months since the project implementation plan approval in March 2019

Construction of 197 apartment buildings, 6 basement to 22 floors, totaling 5,816 households

4,940 sale units (4,069 for landowners, 831 general, 40 reserved), 876 rental units

Resident relocation expected to begin as early as October this year

Hannam 3 District Bird's-eye View

Yongsan-gu (Mayor Park Hee-young) has approved the "Hannam 3 Redevelopment Promotion Zone (Hannam 3 District) Housing Redevelopment Management Disposition Plan" and announced it in the June 23rd issue of the district gazette.

This comes approximately 4 years and 3 months after the project implementation plan was approved in March 2019.

The redevelopment zone is located in Hannam-dong 686 area, with a district area of 386,395.5㎡ and a new total floor area of 1,048,998.52㎡. The zoning includes a mix of first to third general residential areas and semi-residential areas, with a building coverage ratio of 42.09% and a floor area ratio of 232.47% applied.

Through redevelopment, 197 apartment buildings ranging from 6 basement levels to 22 floors above ground will be constructed, totaling 5,816 households, along with 464 commercial units, roads, parks, parking lots, schools, and other maintenance infrastructure.

The sale units total 4,940 households, composed by exclusive area as follows: ▲54㎡ type 3 units ▲59㎡ type 2,138 units ▲84㎡ type 1,851 units ▲118㎡ type 648 units ▲132㎡ type 135 units ▲141㎡ type 15 units ▲151㎡ type 150 units. Rental units total 876 households.

4,069 units will be supplied to landowners, 831 units will be sold to the general public, and the remaining 40 units are designated as reserved facilities.

Resident relocation is expected to begin as early as October this year, followed by demolition of existing buildings after relocation is completed.

Hannam 3 District was designated as a redevelopment zone in October 2009 under Seoul City's redevelopment promotion plan. After the establishment of the association in September 2012, the project implementation plan was approved only in March 2019.

Subsequently, the Hannam 3 District association selected Hyundai Construction as the final contractor in June 2020, established the management disposition plan at the July 2022 extraordinary general meeting, and submitted the approval application in August.

Panoramic View of Hannam 3 District Area

Considering the large scale of the project, the district office had the Korea Real Estate Board verify the overall feasibility of the management disposition plan, and after final review, approved the Hannam 3 District management disposition plan.

Park Hee-young, Mayor of Yongsan-gu, stated, “The Hannam Promotion Zone is the core axis of Yongsan development, and among them, Hannam 3 District is the largest redevelopment project ever with a project site of about 120,000 pyeong and a project cost exceeding 3 trillion KRW, presenting the future urban vision of Yongsan-gu. We will support the swift progress of the project to create a high-quality residential town harmonizing with the nearby Han River and Namsan.”