Daebang Construction said on the 18th that it signed a memorandum of understanding (MOU) with Yangju on the 9th to develop a mixed-use complex to revitalize the central commercial district of Okjeong New Town and expand living infrastructure.
At the signing, Yangju Mayor Kang Soo-hyun and Daebang Construction Chairman Gu Gyo-un attended and discussed ways to cooperate for Okjeong New Town's sustainable growth and mutually beneficial development with the local community.
Under the agreement, the two sides will go beyond building housing facilities to significantly expand commercial, transportation and education infrastructure that residents can feel in their daily lives.
Daebang Construction will expand the size of the planned mixed-use shopping mall in the Okjeong New Town Jung-sang-1 and Bokhap-1 blocks beyond the original plan. The main use area for the commercial facilities will be about 16,530㎡ (about 5,000 pyeong), and the total saleable area including ancillary facilities will be about 27,270㎡ (about 8,250 pyeong). That is equivalent to four soccer fields and will be developed as a large-scale mixed-use commercial facility encompassing shopping, culture and leisure.
Daebang Construction will build a 300-space public parking lot under the land of Neighborhood Park-9 near the project site to resolve the region's chronic parking problems and will transfer it to Yangju through contributed acceptance. About 26.3 billion won will be invested in the public parking lot project, which will not be reflected in apartment sale prices, and is expected to improve parking conditions in the central commercial district without burdening residents.
Meanwhile, cooperation to improve education infrastructure will also move forward. Daebang Construction will cooperate in promoting the establishment of a new middle school (Middle-4) near Yeonpureun Elementary School to help ease overcrowded classes and improve the education environment in Okjeong New Town.
Daebang Construction plans to apply for a change in the project plan within this month and proceed with permitting with the goal of final approval in Jan. 2026. Sales are planned to begin in March–April 2026.
A Daebang Construction official said, "This agreement is a win-win model in which corporate investment and regional development create a virtuous cycle," adding, "By expanding the mixed-use shopping mall and proceeding with contributed acceptance of the public parking lot, we will raise Okjeong New Town's urban competitiveness by a notch and provide residents with a differentiated residential and commercial environment."