Eunkma Apartment, Gangnam Redevelopment Symbol, Gets Project Approval After 47 Years

The Eunkma Apartment complex in Daechi-dong, a long-standing symbol of redevelopment in Seoul's affluent Gangnam district, has finally received approval for its reconstruction project. This marks a significant step, often referred to as reaching the "seven-eighths mark" of the redevelopment process.

The aging complex, built in 1979 and currently comprising 4,424 units, has been in the works for redevelopment since 2003. The recent approval of the business execution plan by the Gangnam District Office means the Eunkma Apartment will be reborn as a massive complex featuring 5,850 units across 29 buildings, soaring up to 49 floors.

With this crucial administrative step completed, the project is moving forward. The next stages involve establishing and approving the management disposition plan, followed by resident relocation and demolition. The developers are targeting a groundbreaking in 2028, signaling a new chapter for this iconic, yet aged, residential area.