首尔木洞重建推进，14个小区总项目成本超过30万亿韩元

Redevelopment of the Mokdong Sinsigaji area in Seoul's Yangcheon District is gaining momentum. With Complex 7 recently winning approval to form a redevelopment union, the number of districts that have completed union formation among the 14 complexes being pushed forward has risen to five. As the redevelopment takes shape, competition among major construction firms for construction rights in Mokdong—worth a total of 30 trillion won—is expected to intensify further in the second half of this year.
According to the redevelopment industry on the 12th, Yangcheon District approved the formation of a redevelopment union for Mokdong Complex 7 on the 8th of this month. This came about six months after it received approval to form a preparatory committee in January this year. The union plans to submit an integrated review to the Seoul Metropolitan Government next month and hold a contractor selection assembly within the year at the earliest. Complex 7, currently with 2,550 households, will be transformed into a maximum of 49 stories with 4,341 households through redevelopment.
Mokdong is drawing attention as the fastest-moving among the so-called "Ap-Yeo-Mok-Seong" (Apgujeong, Yeouido, Mokdong, Seongsu). One reason cited is the simplicity of its property rights. Because it is a redevelopment of apartment complexes of the same construction era, ownership and stakeholder relations are less complex than in redevelopment projects that mix detached houses, multi-family homes, commercial buildings, and small land shares. While some complexes have seen negotiations over matters such as excluding commercial units, disputes over shares large enough to affect project speed are generally few, and securing consent rates and forming unions have proceeded smoothly.
The timetable requiring project implementation approval before 2030 is also uniting residents. The International Civil Aviation Organization (ICAO) will apply new height restriction standards from November 2030, in which case the currently planned maximum designs of 45 to 49 stories are likely to be lowered to the 30-story range. Accordingly, each complex aims to obtain project implementation approval as quickly as possible to eliminate uncertainty. They have set their direction toward advancing union formation, integrated review, and contractor selection procedures as much as possible.
Yangcheon District Office has also stepped in with support. The district recently commissioned a research study on relocation measures in preparation for the large-scale relocation demand of nearly 30,000 households that would arise if Mokdong redevelopment begins in earnest. The district office intends to preemptively resolve the relocation issue, considered the biggest hurdle in redevelopment projects.
Compared with Mokdong, Apgujeong still faces variables in coordination among the Seoul Metropolitan Government, Gangnam District, and unions over securing public interest along the Han River and public contribution burdens. Because Seongsu is a redevelopment project rather than an apartment reconstruction, the potential for disputes over the sales eligibility of commercial and small-share owners, appraisal values, and relocation conditions is relatively greater. In fact, in the Seongsu District 2 area, a legal battle broke out over apartment sales for small commercial property owners, and in the Seongsu District 4 contract competition, the collateral value of small shares and relocation cost conditions emerged as points of contention.
If all 14 Mokdong complexes are redeveloped, the existing 26,629 households will increase to 47,438. Total project costs exceed 30 trillion won, the largest scale among the "Ap-Yeo-Mok-Seong." With many complexes simultaneously proceeding through union formation and contractor selection, unlike Apgujeong and Seongsu where projects are pursued around individual districts, it resembles a project to rebuild an entire new town all at once.
Amid this situation, competition among construction firms is heating up. Samsung C&T, Hyundai Engineering & Construction, and Lotte Engineering & Construction are showing interest in Complex 7, and Hyundai E&C has opened a brand lounge to begin its bidding activities. For Complex 4, Hyundai E&C and POSCO E&C are mentioned, and for Complex 8, a possible rematch between Daewoo Engineering & Construction and Lotte E&C, which faced off in the Seongsu District 4 contract competition. Samsung C&T is reviewing a bid for Complex 13. Rather than chasing all 14 complexes, construction firms are expected to pursue selective bidding, concentrating their capabilities on complexes with high chances of winning by weighing business viability and competitive structure.