Fierce competition is underway for the top spot of the reconstruction promotion committee at Daechi Mido (Hanbo Mido Mansion phases 1 and 2) apartments, one of the flagship redevelopment projects in Daechi-dong, the "No. 1 education district" in Gangnam, Seoul.
Through reconstruction, Daechi Mido Apartments are set to be transformed into a complex with up to 49 floors and about 3,900 households. For the role of head of the promotion committee, which is the stage before establishing the reconstruction association, not only professionals such as doctors but also a city council member and a former vice president of a construction company have stepped forward as preliminary candidates.
According to the real estate industry on the 25th, ahead of the election for Chairperson of the Daechi Mido Apartments reconstruction promotion committee in January next year, three preliminary candidates have formed a three-way race and are fiercely vying for leadership. This is because, if elected Chairperson of the reconstruction promotion committee, the winner can secure an advantageous position in the next stage of establishing the association.
Moon Gil-nam, head of the Daechi Mido Reconstruction Council (Mijaehyeop) and former vice president of Shinsegae Engineering & Construction, Lee Seok-ju, Chairperson of the Mido Integrated Reconstruction Council (Mitongyeon) and former Seoul city council member, and Han Yu-jin, Chairperson of the Daechi Mido Reconstruction Preparation Committee (Jaejunwi), are active as preliminary candidates.
Mijaehyeop head Moon Gil-nam is a former vice president of Shinsegae Engineering & Construction and an expert in construction management (CM) with licenses in architecture, civil engineering, and safety. Kim Yong-hyeok, a professor of pediatrics and adolescent medicine at Wonju Severance Christian Hospital, also serves as Mijaehyeop co-head.
Mitongyeon Chairperson Lee Seok-ju is a former civil servant in the Seoul Metropolitan Government's Gangnam and Gangdong reconstruction departments and served four terms as a construction Commissioner on the Seoul Metropolitan Council. Jaejunwi Chairperson Han Yu-jin is an architecture expert who handled cost-related work for more than 30 years at construction companies such as Samsung Engineering and Byucksan Engineering.
The three preliminary candidates for Chairperson of the reconstruction promotion committee are stepping up publicity by holding events inviting real estate experts for Daechi Mido Apartment residents.
Mijaehyeop held a special lecture at 7 p.m. on the 22nd on the second floor of the Gangnam-gu Community Center in Seoul, inviting Yoon Seok-yang, head of the Gaepo Xi Residence association. Mijaehyeop head Moon Gil-nam said, "Daechi-dong is currently both a speculative overheating zone and an area subject to the price cap on new sales," and noted, "When the general sale price is not much different from the members' sale price, simply increasing the general sale volume may not be very beneficial."
Mijaehyeop put forward a strategy to secure price competitiveness that surpasses Apgujeong and Banpo by enhancing the dignity of a high-end residential complex rather than focusing on cutting project costs.
On the 17th on the previous month, Mitongyeon invited Ko Jong-wan, head of the Korea Asset Management Research Institute, and held a briefing session for residents. Mitongyeon Chairperson Lee Seok-ju said, "We will push the project forward quickly with the goal of relocation in 2028 while transparently disclosing the procedures," and added, "With international design and optimal unit layouts, we will transform Daechi Mido Apartments into a new landmark complex in Gangnam."
At Jaejunwi, at a resident briefing on July 12, it was emphasized that, based on prior resident preference survey results, all members' saleable areas would be expanded to maximize asset value, such as converting an exclusive 84㎡ to an exclusive 115㎡, an exclusive 115㎡ to an exclusive 149㎡, an exclusive 128㎡ to an exclusive 161㎡, and an exclusive 161㎡ to at least an exclusive 195㎡. On the 7th, tax accountant Lee Woo-jin was invited to provide tax consultations for Daechi Mido Apartment residents.
Daechi Mido Apartments is a complex of 2,436 households established in 1983 at 511 Daechi-dong, Gangnam-gu, Seoul. It sits at a prime location right by Daechi Station on Seoul Subway Line 3 and is close to Yangjaecheon and Maebongsan. Near the complex are prestigious school districts and academy streets including Daegok Elementary School, Jungdong High School, and Kyunggi High School, as well as abundant infrastructure such as Gangnam Severance Hospital and Samsung Medical Center.
Through reconstruction, Daechi Mido Apartments is expected to be transformed on a site of about 210,000㎡ within the maintenance zone into 37 buildings with 4 basement floors to 49 above-ground floors and 3,914 households (including 756 public rental units). The member allocation is 2,436 households, and the general sale allocation is 722 households. A total of 2,742 households, or 70% of the total, will be mid-to-large units of at least an exclusive 84㎡.