Suwon Uman 1-dong Redevelopment Priority Negotiation Target Selected as 'Korea Trust and Daeto Trust Consortium'

The consortium of Korea Trust (CEO Lee Yu-cheong) and Daehan Land Trust (CEO Park Jong-cheol) has been selected as the preferred trust company for the redevelopment project of Wuman 1-dong (Zone 1) in Suwon-si, Gyeonggi Province.

The Wuman 1-dong (Zone 1) Redevelopment Project Promotion Preparation Committee announced on the 19th that it signed a memorandum of understanding (MOU) with the Korea Trust and Daehan Land Trust consortium to select the preferred trust company for the Wuman 1-dong (Zone 1) redevelopment project.

Wuman 1-dong (Zone 1) covers the area around 503-7 Wuman-dong, Paldal-gu, Suwon-si (221,791.90㎡), where aged single-family and multi-family houses are densely concentrated, making systematic maintenance necessary.

This area is considered one of the best in Suwon-si in terms of transportation, education, and living conditions. It benefits from various infrastructures such as Ajou University Hospital, Catholic University Hospital, Lotte Mart, and outlets, and hosts many schools including Ajou University, Dongseong Middle School, and Hyoseong Elementary School. In particular, the location is expected to improve further once the World Cup Stadium Station near the project site is completed as part of the Shinbundang Line extension plan.

The Redevelopment Project Promotion Preparation Committee of Wuman 1-dong (District 1), Suwon-si, Gyeonggi-do, signed a memorandum of understanding (MOU) on the 19th with the consortium of Korea Trust and Daehan Land Trust to select the preferred trust company for the Wuman 1-dong (District 1) redevelopment project. Provided by the Wuman 1-dong Redevelopment Project Promotion Committee

The Korea Trust and Daehan Land Trust consortium plans to accelerate the collection of consent forms from landowners with the redevelopment promotion committee, aiming to select redevelopment candidate sites by October. Suwon-si is promoting the selection of redevelopment and reconstruction candidate sites according to the ‘2030 Suwon-si Urban and Residential Environment Maintenance Basic Plan (Amendment).’

A representative of Daehan Land Trust stated, "Active participation from landowners is currently underway in Wuman 1-dong (Zone 1), so there should be no difficulty in applying as a candidate site," adding, "We plan to actively support the promotion preparation committee for future candidate site selection and designation of the trust company as the project implementer."

Meanwhile, Daehan Land Trust, a subsidiary of the Military Mutual Aid Association, holds the industry’s highest record with a total of nine completed trust-based maintenance projects. It is actively promoting trust-based maintenance projects in major metropolitan areas such as the reconstruction of Gwangmyeong Haan Jugong Complexes 3 and 4, redevelopment of the housing area around 56 Sungin-dong, Jongno-gu, redevelopment of Sipjeong 5 District in Incheon, and redevelopment of the Byeollae Station area in Guri.