Gyeongju approves implementation plan for Hwangseong Jugong 1 reconstruction project

Gyeongju city in North Gyeongsang Province approved the project implementation plan for the Hwangseong Jugong 1 reconstruction project in Hwangseong-dong, the city announced Thursday.

The approval marks Gyeongju's first project implementation plan authorized under the Act on the Improvement of Urban Areas and Residential Environments, a law aimed at systematically redeveloping substandard residential areas and upgrading aging and deteriorating buildings to improve urban conditions and residential quality of life.

The Gyeongju Hwangseong 1st Reconstruction Association, the project operator, will now move into follow-up procedures, including accepting pre-sale applications from association members and drawing up a management and disposal plan.

The Hwangseong Jugong 1 reconstruction project is a private-sector redevelopment initiative in the Hwangseong-dong area.

The association plans to demolish the existing 620 units and build a new apartment complex on a 35,819-square-meter site — 10 buildings with 25 above-ground floors and 3 below-ground floors, comprising 797 units along with ancillary and welfare facilities.

The association was designated a reconstruction improvement zone in 2017 and received approval to establish the association in 2020, then completed related procedures including revisions to the improvement plan and an architectural review.

The project will begin accepting pre-sale applications from association members in the fourth quarter of this year, followed by relocation and demolition, with completion targeted for 2034.

"We will actively support the relevant procedures to ensure the reconstruction project proceeds without delay following this implementation plan approval," Gyeongju Mayor Ju Nak-young said. "We will continue to deliver fair and responsible administration for the safety of residents and the improvement of their living environment."