Raemian One Bailey in Banpo-dong, Seocho-gu, Seoul, is considered a representative success story of integrated redevelopment. The project combined Shinbanpo 3rd (1,140 units) and Kyungnam Apartment (1,056 units) into a newly reborn complex of 2,990 units. Maple Zai (3,307 units) in Jamwon-dong, Seocho-gu, is also a redevelopment that merged Shinbanpo 8th, 9th, 10th, 11th and 17th, Nokwon Hanshin, and Beni House.
These projects share a common feature: apartment complexes of similar size and scale voluntarily came together, agreed on settlement methods in advance, and proceeded with the project. Kim Je-kyung, head of Toomi Real Estate Consulting, explained, "Apartment complexes that succeeded in integrated redevelopment had smooth agreements among complexes beforehand. Integrated redevelopment was possible because agreements were reached in advance on areas where disputes might arise."
Raemian One Bailey prevented conflicts through in-place reconstruction and the independent settlement system. The independent settlement system refers to a redevelopment method in which buildings within a single project implementation zone settle development profits and costs separately. One Bailey adopted the independent settlement system for each complex. In addition, the project applied in-place reconstruction, under which owners of existing complexes are assigned new apartments closest to their original locations after redevelopment, minimizing conflicts over relocation and location assignments between complexes.
The union's strong leadership also played a part. As each party's interests were intertwined, the project was driven forward with strong momentum. In particular, Raemian One Bailey was completed in 7 years and 10 months from union establishment to move-in, with the union playing a major role in actively resolving various conflicts. Union Chairman Han Hyung-ki, known as a star union chairman, is credited with demonstrating execution capability despite numerous controversies and smoothly completing the integrated redevelopment. An official in the redevelopment industry said, "In mediating conflicts, the union approach may be rough but can be more effective."
