Anyone understands what they saying about owning, rebuilding and stuff? I'm not old enough...

Vinny vinyl July 21, 2025 3:58 am

Anyone understands what they saying about owning, rebuilding and stuff? I'm not old enough to know those yet and I don't live in Korea (assuming that this kind of real estating is only in Korea)

Responses
    Alienqueen July 21, 2025 4:12 am

    Probably tearing down all the older, cheaper building where the poor folk live so they can put up malls and restaurants and other commercial facilities that rich people can go to.

    urania July 21, 2025 4:18 am

    i can help a bit! i'll be specific about this series since i know fuckall about how it works in korea fr but i know how it works for my country over here and it sounds similar
    so in this case, incheol (suits guy) is from a political party that is overseeing this redevelopment project in some lower district in the city. he is sent there to replace the former guy in charge (advisor cha kwonsoo) who was unsuccessful.

    now the thing here, the land they've decided to redevelop is divided into 3 sections - 2 residential zones, 1 mostly commercial zones. Redevelopment here would mean demolishing all buildings, etc and then building new buildings on the same land. Now what happens to people who live there? if they own apartments in the existing buildings, they are offered a buyout. sometimes the deal is you get to instead get a place of equal size in the new redeveloped building (many ppl take this option bc you get to come live back in the same place you're used to) or some similar deal. basically they get compensated somewhat. (occassionally developers will even pay for the residents to rent elsewhere while construction is ongoing).

    this way, the builders/developers now own the land, they hire contractors etc and start the demolishing/rebuilding work. once they own the land, they can start selling it, even before construction begins since this is a first-come, first-buy thing. people who want better location etc will hurry to buy it first, and there are often special deals for early bird buyers. in ch 9, it seems there are business people who have stakes in zone 3 (as in, they bought the land, or they are original owners who have been promised new developed buildings in the redeveloped zone 3)

    incheol is representing the real estate company doing this redevelopment (maybe they have some links to the party, or it belongs to the party itself. thats not clear) and his job is to get the last of the residents to sell off the land so the redevelopment can begin properly. remember, if even one resident refuses to sell their land, its difficult to proceed with construction since they cannot demolish that one building. and that whats the people in ch 9 are fighting with him about. they want him to bypass the zone where pyeonhwa is, and start construction in zone 3. but there are exsiting construction plans/deals etc in place which dictate how construction begins, and how it progresses at each stage. if they want to bypass, they'll have to go against that plan (which might mean breaking contract with current buildiing contractors). which would add expenses to the whole project and no one likes 'extra expenses' right?

    Vinny vinyl July 21, 2025 4:27 am
    i can help a bit! i'll be specific about this series since i know fuckall about how it works in korea fr but i know how it works for my country over here and it sounds similar so in this case, incheol (suits gu... urania

    I can somewhat grasp it now... Thank you!!!!

    JJKTHV July 21, 2025 5:21 am
    i can help a bit! i'll be specific about this series since i know fuckall about how it works in korea fr but i know how it works for my country over here and it sounds similar so in this case, incheol (suits gu... urania

    Girl r u into the real estate business urself somehow?? The explanation just made me understand the whole point of this mamhwa

    pikorudo July 21, 2025 5:56 am
    i can help a bit! i'll be specific about this series since i know fuckall about how it works in korea fr but i know how it works for my country over here and it sounds similar so in this case, incheol (suits gu... urania

    my goshhhh tysm for the explanation!!

    urania July 21, 2025 7:02 am
    Girl r u into the real estate business urself somehow?? The explanation just made me understand the whole point of this mamhwa JJKTHV

    nah lol. i wish. at least i would myself own a house then lmao

    Dili July 21, 2025 8:22 am
    i can help a bit! i'll be specific about this series since i know fuckall about how it works in korea fr but i know how it works for my country over here and it sounds similar so in this case, incheol (suits gu... urania

    Hoooly shit what an amazing explaination

    midnight reader July 21, 2025 9:05 am
    i can help a bit! i'll be specific about this series since i know fuckall about how it works in korea fr but i know how it works for my country over here and it sounds similar so in this case, incheol (suits gu... urania

    Ok so I’m not dumb I sort of understood it but I just piece all info in whole. I needed this much gratitude and appreciation towards u