Banpo Hyundai Notified of 17.9 Billion Won Reconstruction Profit Recapture Fee… Reconstruction Burden Becomes Visible
5 Articles
5 Articles
On the 9th, Seocho-gu, Seoul, notified the reconstruction association of Banpo Hyundai (currently Banpo Centerville Asterium) in Banpo-dong—the first complex in the Gangnam area subject to the Reconstruction Excess Profit Recapture (REPR)—of an estimated REPR levy of 17.9 billion won. This is an administrative procedure preceding the final notification of the levy; the district will accept and review objections for the next 50 days, and then...
Despite reconstructing the same Banpo Jugong Complex 1, fortunes diverged regarding the levy for the Reconstruction Excess Profit Recapture System (REPR). Zones 1, 2, and 4 will not pay a single penny in levies. On the other hand, it is projected that Zone 3 could face a payment of up to 700 to 800 million won per household. On the 9th, Seocho-gu, Seoul, provided advance notice of the estimated REPR levy amount to the Banpo Hyundai (currently Ba…
(Seoul = Yonhap News) Reporters Oh Ye-jin and Oh Jin-song = On the 9th, Seocho-gu, Seoul, regarding Banpo Hyundai (currently Banpo Centerville Asterium), the first complex in the Gangnam area subject to the Recapture of Excess Reconstruction Profits (REP)...
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News Q Reporter Kim Chae-wan / The levies imposed under the Reconstruction Excess Profit Recapture System have become a reality for reconstruction complexes in Seoul's Gangnam district. Association members, who had previously hoped for the abolition of the system or a further deferral, are now faced with the immediate obligation to pay levies amounting to hundreds of millions of won. The Reconstruction Excess Profit Recapture System is a mechani…
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