The redevelopment of the aging complex has been more than 20 years in the making, with a union representing apartment owners pushing since 1996 for the project. More than a decade passed before the necessary safety approvals were received.
The government’s most recent real estate policy, the 21st antispeculative measures instituted by the current administration, has posed challenges to home owners and so-called gap investors.
Korea JoongAng Daily Sitemap