Relocation 12 Years After Cooperative Establishment
209 Households and 527 Officetel Units Move In
Gangseo-gu, Seoul (District Mayor Jin Gyo-hoon) announced on the 6th that resident relocation for the Gonghang Market Redevelopment Project (around 620-100 Banghwa-dong) will begin from the 29th of last month until February 28th of next year. This is the first time in 12 years since the establishment of the association in October 2012.
The Gonghang Market Redevelopment Project Association issued a relocation notice on the 4th of last month to prepare for the relocation and has started the full-scale relocation.
The district plans to prepare for residential safety management as slum formation is expected due to vacant houses after the relocation. They plan to promote various crime prevention measures by establishing a close cooperative system with the association. In particular, fences will be partially installed in areas where relocation has progressed to control access.
The Gonghang Market Redevelopment Project established the association in 2012 and received approval for the project implementation plan in 2016. Subsequently, Hanwha Construction was selected as the contractor in 2018, and the project gained momentum after receiving approval for the management disposition plan in June 2024.
Gonghang Market was registered as a market in 1969 and the facility was built in 1970, covering an area of 14,549㎡. It is planned to house three apartment buildings with 209 units ranging from four basement floors to 15 above-ground floors, and 527 officetel units. Additionally, retail facilities with a sales area of 4,734㎡ and public office facilities covering 1,833㎡ will also be constructed.
The association aims to start construction in the second half of next year after the relocation and demolition process, targeting completion in the second half of 2028.
District Mayor Jin Gyo-hoon said, “The Gonghang Market Redevelopment Project has started relocation for the first time in 12 years since the establishment of the association,” adding, “Once the redevelopment is completed, it will emerge as a new residential area linked with the Magok district.” He continued, “We will continue to do our best to ensure that residents can live in a more pleasant environment.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
