# Hyundai Apt. in Apgujeong, Seoul was once called’a complex that can be reconstructed only for grandchildren and granddaughters’. This is because many landlords lived abroad, and there were many elderly landlords, so there was no subject to lead the reconstruction. Most of the residents are high-income families, so remodeling their homes alone did not cause any inconvenience. Parking, the biggest problem in the old apartment, was solved by valet parking by security guards.
The reconstruction of Apgujeong, which was considered impossible in a short period of time, is accelerating terribly. The reconstruction of Apgujeong, one of the biggest words of reconstruction in Seoul, is analyzed that the speed of reconstruction has accelerated even more due to the `regulatory paradox` as the regulation of `2 years live residence` approaches.
According to the real estate industry on the 15th, the Apgujeong District 2 Reconstruction Promotion Committee and the 3 District Redevelopment Promotion Committee sent residents a notice of the schedule of the association establishment general meeting. The 2nd and 3rd districts plan to hold the association establishment general meeting on the 25th and 28th, respectively. After the general meeting is held, an application for union approval will be submitted to the Gangnam-gu Office in Seoul.
Zone 2 is the Hyundai 9, 11 and 12 apartments, with a total of 1924 households in the so-called `New Hyundai` complex. Zone 3 is called `Old Hyundai` with 4065 households including Hyundai 1~7, 10, 13, 14 and Daelim Villat. It is the largest area among the reconstruction of Apgujeong. As these two areas accelerated, it is analyzed that both Apgujeong reconstruction has entered the final stage of the establishment of the association. On the 10th, Gangnam-gu Office approved an application for the establishment of a union submitted by the Association Establishment Promotion Committee for Apgujeong District 4 Housing Reconstruction Maintenance Project. Reconstruction approval was granted in Apgujeong-dong about 19 years after District 6 (only Hanyang 7th apartment was approved) in 2002.
District 1 has a resident consent rate exceeding 80%, and District 5 has already applied for union approval. Professor Kwon Dae-jung of the Department of Real Estate at Myongji University said, “In the history of real estate, this area has been leading the price of apartments in Gangnam. If the reconstruction proceeds, you will be able to see the history of apartments in the Gangnam area.”
It was from last year that the reconstruction situation in Apgujeong changed rapidly. This is because reconstruction complexes that did not apply for permission to establish a cooperative in the overheated district due to the government’s 6/17 real estate countermeasures could only receive the right to sell in order for members to live for at least two years prior to the cooperative establishment approval. Then there was a boom in the establishment of a union in Apgujeong. A nearby reconstruction official said, “As a bill that enforces restrictions on living residence was raised to the National Assembly at the end of last year and is expected to pass in the first half of this year, even beneficial owners living in the United States came to Korea and stamped it.” “He said.
In the real estate market, it is assessed that the regulation of mandatory real residence paradoxically helped the establishment of the union. It is a calculation that avoids regulation by completing the establishment of a union as quickly as it is not sure when the relevant law will pass the National Assembly. Professor Kwon said, “If you get the union’s approval quickly, you can avoid compulsory residence, so there is a’regulatory paradox’ that has no choice but to speed up.” Kim Yoon-soo, head of Apgujeong District 4, said in an article sent to members immediately after approval for the establishment of the union, “This makes it possible to smoothly proceed with the reconstruction project, avoiding the requirements for membership qualifications strengthened by the revision of the law.” Apgujeong is not the only place where the’regulatory paradox’ occurred. Shinbanpo II, Seocho-gu, which was called’a complex that cannot be reconstructed’, also formed a union after 17 years of last year. This is a place where progress was not possible due to a conflict of interests between the Han Riverside Complex and the southern large Pyeongsu Bihan Riverside Complex. This is because when the Sinbanpo 2nd apartment was created, the value of the’Han River View Area’ was not great, so a small pyeong water was placed on the banks of the Han River and a large pyeong water was placed in the south where the roadside noise was small.
[정석환 기자 / 김태준 기자]
[ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]