Integrated reconstruction of Hangaram Hanyang, Samsung and Doosan complexes to expand from 2,096 to 2,839 units

Representatives of Korea Asset In Trust and the Pyeongchon A-5 zone residents' committee pose for a commemorative photo. [Korea Asset In Trust]
Representatives of Korea Asset In Trust and the Pyeongchon A-5 zone residents' committee pose for a commemorative photo. [Korea Asset In Trust]

Korea Asset In Trust announced Thursday it has signed a preliminary project operator MOU with the residents' committee of the Pyeongchon A-5 zone in Anyang, Gyeonggi Province — one of the most closely watched reconstruction sites in the first-generation new town renewal drive.

The MOU was drawn up under the Special Act on the Improvement and Support of Aging Planned Cities to facilitate a smooth and swift reconstruction of the A-5 zone. Through the partnership, the residents' committee will be able to introduce trust-based transparent fund management and professional project oversight from the earliest stages of the project.

The Pyeongchon A-5 zone is a large-scale integrated reconstruction project combining three complexes — Hangaram Hanyang, Samsung and Doosan — on a site of about 129,708 square meters. The project aims to replace the existing 2,096 units with a new residential complex of 2,839 units, an increase of 743. The reconstruction is expected to significantly improve the aging residential environment and establish the development as a new landmark of Pyeongchon new town.

The zone is also set to benefit directly from a major transportation upgrade: a new station tentatively named Anyang Stadium Station on the Wolgot–Pangyo line is planned near the Anyang General Stadium intersection adjacent to the complex. Once the line opens, access to Pangyo and other key Greater Seoul business districts will improve dramatically, boosting the area's regional transit premium and residential value.

Korea Asset In Trust plans to build a close cooperative framework with the residents' committee and systematically support follow-up steps, including the formal designation of a preliminary project operator and a full project operator. The company said it will proactively prepare the administrative groundwork from the outset to accelerate the project timeline and establish a stable foundation for its execution.

Meanwhile, a separate redevelopment project in Gunpo's Sanbon 1-dong District 1, in which Korea Asset In Trust is participating as project operator, recently received approval for its project implementation plan and is picking up pace.


hss@heraldcorp.com