The Mokdong 7th Complex in Yangcheon District, Seoul, is pushing for reconstruction through a cooperative method. There has been conflict among owners regarding whether to proceed with the reconstruction project by cooperative method or trust method.
According to the maintenance industry on the 9th, the Mokdong 7th Reconstruction Preparation Committee (Preparation Committee) recently conducted a vote among owners regarding the method of the project, resulting in 70.28% (965 people) of all respondents choosing the cooperative method. Those who selected the trust method numbered 29.35% (403 people), and invalid votes were 0.36% (5 people).
The voting was conducted over 20 days from the 18th of last month to the 7th, targeting all 2,583 households (including stores). A total of 1,373 owners participated in the votes (voter turnout of 53.16%). Chairperson Ji Seong-jin noted, "We will swiftly advance the project according to the owners' wishes through the cooperative method."
Earlier, there were differing opinions among residents regarding the method of the Mokdong 7th reconstruction project. In 2023, the Mokdong 7th Maintenance Project Promotion Preparation Committee (Promotion Committee) signed a memorandum of understanding (MOU) with Koramco REITs Management and Trust, and some owners demanded that reconstruction be pursued through the trust method.
Meanwhile, Mokdong 7th is located in the most central part of 14 complexes in the Mokdong New Town. It adjoins Mokdong Station on Line 5. It is also close to Mokwon Elementary School and Mokwon Middle School, which are highly preferred in Mokdong. The reconstruction will change it to a maximum of 49 floors and 4,100 households. The number of households is expected to increase by 1,550, from the existing 2,550 households.