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Five-Story Apartment in Ilwon-dong Sets Record Price of 3.4 Billion Won as Reconstruction Picks Up
🇰🇷 South Korea /Disasters & Emergencies

Five-Story Apartment in Ilwon-dong Sets Record Price of 3.4 Billion Won as Reconstruction Picks Up

From Chosun Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Low-rise Garam and Sangnoksu apartment complexes near Ilwon Station in Seoul have begun forming reconstruction associations.
  • The complexes currently contain 1,236 homes in buildings up to five stories tall.
  • Reconstruction plans would create buildings up to 25 stories and expand the total to 1,944 homes.

Reconstruction is gathering speed around Seoul’s Ilwon Station, where two landmark low-rise apartment complexes have entered procedures to establish residents’ associations.

Garam and Sangnoksu apartments in Gangnam’s Ilwon-dong currently consist of buildings no higher than five stories. Together, they contain 1,236 households.

If the reconstruction plans are completed as proposed, the complexes will rise to as many as 25 stories. The number of homes would increase to 1,944, adding 708 units.

About this summary

Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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