Approval comes just 8 days after Korea Real Estate Board completes feasibility review; residents to begin relocating in February 2027
Reconstruction to yield up to 35 floors across 21 buildings; groundbreaking set for 2028, with move-ins targeted for the second half of 2032
Gangnam-gu approved the management and disposal plan for the Gaepo Jugong Complexes 6 and 7 reconstruction project on Thursday.
The approval came just eight days after the Korea Real Estate Board notified the district that its feasibility review was complete, giving strong momentum to a reconstruction project long sought by association members. The district plans to publish the approval in its official gazette and on its website Thursday.
A management and disposal plan is the procedure that finalizes each association member's allotment, equity share and contribution amount during the reconstruction process. Completing this step clears the way for relocation, demolition and groundbreaking, making it one of the most critical milestones in any reconstruction project.
With the approval in hand, Gaepo Jugong Complexes 6 and 7 will now move into full relocation preparations. The association plans to begin relocating members in February 2027, with asbestos removal and demolition of existing structures to follow in the second half of that year. Groundbreaking is scheduled for 2028, with move-ins targeted for the second half of 2032. Hyundai Engineering & Construction will serve as the contractor.
Currently home to 1,960 units, the complexes will be transformed through reconstruction into a development of up to 35 floors, 21 buildings and 2,698 units. Exclusive use areas will range from 45 to 147 square meters, catering to a variety of residential needs.
The complexes are situated adjacent to Daechi-dong and close to Yangjae Stream, Gaepo Neighborhood Park, Daemosan and Guryongsan. Residents have access to the Suin-Bundang Line and the Gyeongbu Expressway via the Yangjae interchange, and regional transit connectivity is being further expanded around Suseo Station.
"Following Complex 5, the approval of the management and disposal plan for Complexes 6 and 7 marks another step forward for the mid-rise apartment reconstruction in Gaepo-dong," Gangnam-gu District Mayor Kim Hyun-ki said. "We will continue to provide swift administrative support to minimize unnecessary waiting for residents and ensure the project proceeds without a hitch."
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