Reconstruction of Eunma apartment

Amid the recent reconstruction craze across the country, Eunma Apartment, located in Daechi-dong, Gangnam-gu, Seoul, is at the center of the topic. Eunma Apartment is the second largest apartment built by development in Gangnam, Seoul. Also, it has been a symbol of Gangnam reconstruction, which has been underway since 1996. Then, why is the reconstruction of the Eunma Apartment such a hot topic?

With the full-fledged development of Gangnam in 1967, the site of Eunma Apartment, which used to be a wetland where water accumulated when it rained, was also used as a residential site. Although it was not sold well due to real estate regulations after construction, the sale was completed in just 20 days thanks to the second oil shock that brought the real estate back into the spotlight as a safe asset.

Eunma Apartment is in the spotlight because it is near the station area and it has the best educational environment. It is a station area with Daechi Station on Subway Line 3 and is located right next to the Gangnam 8 School District. The formation of the Gangnam 8th School District to attract residents to the Gangnam development plan developed an academy district. This special demand for private institutes has led to a huge rise in housing prices for Eunma apartments.

Eunma Apartment has been undergoing reconstruction for 25 years since 1996. Reconstruction continues to be delayed due to various complex problems such as conflict between the government and the Seoul Metropolitan Government to curb rising real estate prices and internal disputes among apartment members.

Currently, Eunma apartments are having great difficulty rebuilding due to parking problems, garbage problems, and internal disputes in unions. In this case, I believe that the first thing the Seoul Metropolitan Government or the Gangnam-gu Office should do is step up, coordinate, and solve these problems. I strongly believe that the government’s review of the reconstruction of Eunma apartments as soon as possible is a way to solve these problems.

By: Doyoung Kim