30-year unfinished apartment complex plagues Boryeong ahead of international events

An unfinished apartment complex in Boryeong, South Korea, has stood as a gray, skeletal structure for nearly three decades, marring the landscape and posing a growing concern as the city prepares to host major international events.

The Sora Apartment construction site, located in Nam-po-myeon, features over a dozen buildings reaching 13 stories high. Unpainted and surrounded by overgrown weeds, the site is a stark reminder of a project that began in 1993 but halted in May 1998 due to the Asian financial crisis, which bankrupted the original developer. Subsequent attempts by other construction companies to take over the project have repeatedly failed. The land is now owned by Jinheung Savings Bank, which itself went bankrupt in 2013, leading to ongoing attempts to sell the property through public auctions.

Locals describe the site with dismay. The village head of Samhyeon 1-ri, Jeong Min-seop, mentioned that "a body was found there before, and now there are rumors that wild animals live there." He expressed a strong desire for the site to be either completed or demolished, ending its prolonged state of neglect. The unfinished complex is particularly problematic due to its proximity to Daecheon Beach, a major tourist destination, and its visibility to visitors arriving via Daecheon Station or the Daecheon interchange.

Boryeong is anticipating a significant influx of domestic and international visitors for events such as the 30th anniversary of the Boryeong Mud Festival, the Boryeong Archipelago Biennale, and the Beach Volleyball competitions for the Chungcheong World University Games. The presence of the decades-old eyesore is seen as a significant deterrent to the city's image. In response, Boryeong City has initiated efforts to create a 10 billion won fund over five years to manage abandoned construction sites. However, the estimated cost of demolishing the Sora Apartment complex alone is around 12 billion won, indicating the fund may be insufficient.

Adding to the challenges, public auctions for the property have consistently failed. Since 2014, several contracts have been canceled because the winning bidders did not pay the remaining balance. The minimum auction price has dropped from an initial 18 billion won to the 6 billion won range, with over 30 failed attempts since 2020. Residents hope for a swift resolution, with a study by the Chungnam Research Institute indicating a desire to demolish the complex and attract new facilities like a hospital.

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We hope the abandonment is ended, whether by completing the buildings or demolishing them.