Bundang's First 'Association-Based' Reconstruction... Sangnok Woosung Says It Will 'Expedite Association Establishment'

[Financial News] Woosung Apartments (Sangnok Woosung) in Sangnok Village, Bundang District, Seongnam-si, Gyeonggi-do, is pursuing a reconstruction project using the 'association-based method,' the first of its kind in the Bundang area.
The Sangnok Woosung Reconstruction Residents' Representative Group announced on the 15th that it had completed the consent process for the residents' representative group and obtained approval from Seongnam-si, becoming the first among the complexes applying for the second Bundang Special Maintenance Zone.
The formation of a residents' representative group is considered a key step in the maintenance process for aging planned cities. Sangnok Woosung explained that through this consent process, it gathered the residents' opinions, submitted the relevant documents to Seongnam-si, and obtained final approval.
The project implementation method has been finally decided as the 'association-based method,' the first of its kind in the Bundang area. Having confirmed this method, Sangnok Woosung plans to complete preparations for the next stage of the project before the designation of the maintenance zone in December, and intends to promptly pursue approval for the establishment of the association as soon as the zone is designated.
Choi Woo-shik, head of the Sangnok Woosung Reconstruction Residents' Representative Group, said, "Based on the high level of resident participation and the swift progress of procedures, we will move forward with the project at a rapid pace as a leader in the maintenance project."
Sangnok Woosung was completed in 1994 and consists of 27 buildings with 1,762 households. It is located near Jeongja station, and a design is being developed to ensure that all association members can enjoy views of Tancheon.

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