EXECUTIVE PROPERTY & OPERATING COST BRIEF
Bandalseom:
Woongshin Michelan Morning
A decision-ready review of the 466-unit waterfront residence and retail landmark at Bandalseom1-ro 4—and how open-book management by Goldnus delivers common management fees up to 34% lower than neighboring complexes.
One waterfront landmark. Up to 34% lower monthly operating burden.
In high-rise officetels and ground-floor retail, bloated common management fees silently erode tenant retention and net rental yield. Woongshin Michelan Morning combines new-build waterfront scale (August 2024 register) with verified, transparent cost control by Goldnus Co., Ltd.
A 117.6-meter reinforced-concrete landmark at Bandalseom1-ro 4, Danwon-gu, Ansan.
- 456 Residential Officetels across Floors 9–27 (24 units per floor)
- 10 Ground-Floor Retail Units on Floor 1 with direct street frontage
- Dedicated Above-Ground Parking across Floors 2–4 + B1 plant/amenities
- Gross Floor Area: 29,991.52 m² (Floor Area Ratio 798.17%)
Positioned directly inside the Sihwa Lake Bandalseom waterfront commercial district, serving both residential tenants and industrial-park professionals.
Verified 20%–34% lower common management fees against nearby Bandalseom complexes.
- Building-wide Common Fee: KRW 1,195/m² (34% lower than Complex H · 21% lower than Complex S)
- 1F Retail Unit (approx. 51 m² excl.): KRW 230,769/mo (25% lower than Complex M’s approx. KRW 306,000)
- Standard Officetel (approx. 32 m² excl.): KRW 125,913/mo (20% lower than Complex M’s approx. KRW 158,000)
- 100% Open-Book Portal: Monthly 47-item billing & bank ledger disclosure at michelan.kr
Lower recurring overhead directly increases net operating income (NOI) for landlords and reduces total occupancy cost for tenants.
Woongshin Michelan Morning figures are exact billed amounts published on michelan.kr. Neighboring Bandalseom complexes (anonymized as Complex H, Complex S and Complex M) are shown as rounded figures from actual monthly billing statements in the same district.
How Korean residential officetels and commercial strata units work.
Whether you are acquiring an individual unit, leasing multiple residences for corporate staff, or operating a ground-floor retail bay, understanding the statutory structure clarifies both title security and monthly cost allocation.
Residential Officetel (주거형 오피스텔)
Individually titled condominium-style studio / suiteIn Korea, an officetel is legally classified under commercial/business facilities while functioning as a quasi-housing unit under the Housing Act. Each of the 456 units (Floors 9–27) holds an independent freehold sectional title (구분소유권) and can be occupied or leased freely.
Ground-Floor Retail (1층 근린생활시설·상가)
Street-front commercial strata bays (10 units)The 10 retail units on Floor 1 hold separate commercial sectional titles fronting Bandalseom1-ro. For retail tenants and landlords, monthly common management charges directly determine tenant retention and net operating income (NOI).
Exclusive vs. Gross Managed Area (전용·관리면적)
Private interior vs. common-fee allocation basisExclusive area (전용면적) is the interior floor space inside the unit door. Common management fees in Korean multi-unit buildings are allocated across total managed/contract area (29,991.52 m² across the building).
Collective Building Act (집합건물법)
Statutory governance for mixed-use & officetel towersMixed-use towers combining officetels and commercial units are governed by the Act on Ownership and Management of Condominium Buildings. Professional entrusted management and transparent accounting protect all unit owners.
Why transparent common-fee accounting is the strongest driver of net yield.
Many new-build officetel towers suffer from opaque lump-sum service contracts and redundant staffing that push common fees above KRW 1,500–1,800/m². Goldnus Co., Ltd. (goldnus.com) restructured operations around open-book verification.
Common Management Fee (공용관리비)
Shared building operating expenses per m²Covers administration, facility engineering, cleaning, security, elevator maintenance, insurance and shared network systems. At Woongshin Michelan Morning, this averages KRW 1,195/m²—up to 34% below nearby peers.
Individual Utility Charges (개별사용료)
Sub-metered unit electricity, water & heatingBilled strictly according to each unit’s actual meter consumption plus shared utility distribution. Separating common fees from individual usage allows an apples-to-apples efficiency benchmark across buildings.
Long-Term Repair Reserve (장기수선충당금)
Capital reserve levy billed on monthly statementsSome neighboring complexes add a separate monthly capital reserve surcharge on top of base common fees. Our benchmark compares both total resident burden (including reserve) and base common fee (excluding reserve).
Open-Ledger Disclosure (원장 100% 공개 · michelan.kr)
Line-by-line digital audit trail by Goldnus Co., Ltd.Operated by Goldnus (goldnus.com), the dedicated portal (michelan.kr) publishes all 47 statutory billing sub-items, vendor names and calculation bases every month, eliminating hidden markups.
Unlike conventional management offices that restrict accounting ledgers, Goldnus publishes the building’s monthly billing statements and peer comparisons publicly at https://michelan.kr/ and explains its operating model at https://www.goldnus.com/transparency/.
Actual bill comparison against nearby Bandalseom complexes
* Comparison based on actual monthly billing notices in Danwon-gu, Ansan (October 2025–Early 2026 period). Neighboring sites are anonymized as Complex H, Complex S and Complex M with rounded figures.
1F Retail Bay · Approx. 51 m² Exclusive
- Woongshin Michelan Common Fee
- KRW 230,769 ($167)
- Nearby Complex M (Same ~51 m² class)
- Approx. KRW 306,000
- Annual Common-Fee Savings
- Approx. KRW 900,000 / yr
Standard Suite · Approx. 32 m² Exclusive
- Woongshin Michelan Common Fee
- KRW 125,913 ($91)
- Nearby Complex M (Same ~32 m² class)
- Approx. KRW 158,000
- Annual Common-Fee Savings
- Approx. KRW 380,000 / yr
Architectural & Register Specifications
Recorded in the Collective Building Register (집합건축물대장 표제부) on 12 August 2024, Woongshin Michelan Morning (Building A) is a 27-story reinforced-concrete tower occupying a 2,308.6 m² site in the Bandalseom general commercial district.
With a gross floor area of 29,991.5192 m² (building coverage ratio 69.87%, floor area ratio 798.17%), the tower separates ground-level commercial traffic (1F), above-ground parking decks (2F–4F) and elevated residential floors (9F–27F, 24 units per floor).
Official Building Register Summary
- Road Address: Bandalseom1-ro 4, Danwon-gu, Ansan-si, Gyeonggi-do (Parcel: Seonggok-dong 844)
- Scale & Height: B1 to 27F above ground · 117.6 meters
- Unit Composition: 466 units total — 456 Officetels (9F–27F) + 10 Retail Shops (1F)
- Gross Floor Area: 29,991.5192 m² (Site area 2,308.6 m²)
- Entrusted Manager: Goldnus Co., Ltd. (goldnus.com)
Residential Officetel Suites
24 units per floor designed for single professionals, industrial-complex commuters and waterfront lifestyle tenants. Lower monthly common fees (KRW 125,913/mo for a standard ~32 m² unit) directly improve tenant retention and net rental yield.
Street-Front Commercial Retail
10 ground-floor retail bays serving the 456 upstairs residences and visitors to the Bandalseom waterfront district. Common fees are maintained at KRW 230,769/mo for a ~51 m² shop—25% lower than comparable nearby retail bays.
How Goldnus achieves up to 34% lower common fees
In most multi-unit towers, management fees escalate because staffing is duplicated by habit and external service contracts are renewed without item-by-item audits. Goldnus Co., Ltd. (goldnus.com) replaced that model with three structural reforms at Woongshin Michelan Morning:
First, combining essential on-site personnel with mobile patrol and headquarters engineering support to eliminate idle labor overhead. Second, disclosing all 47 statutory billing sub-items and bank ledger records on michelan.kr. Third, linking facility maintenance directly with lease and asset value protection.
What is publicly verifiable on michelan.kr
- Monthly billing statements across all 47 statutory sub-items (michelan.kr)
- Side-by-side fee benchmarks against Complex H, Complex S and Complex M
- Why Goldnus discloses every ledger line (michelan.kr/why)
- Goldnus corporate transparency standard (goldnus.com/transparency)
- Building register & location guide (michelan.kr/overview)
Why well-managed buildings command stronger occupancy.
Why operating cost discipline is decisive in Bandalseom
Bandalseom is an island waterfront district on Sihwa Lake in Ansan, combining marina/leisure master planning with immediate proximity to the Banwol and Sihwa National Industrial Complexes. In a competitive new-build micro-market, tenants actively compare monthly management bills before signing or renewing a lease.
KRW 1,195/m² at Woongshin Michelan Morning vs. approx. KRW 1,820/m² at nearby Complex H.
KRW 230,769/mo (~51 m² shop) vs. approx. KRW 306,000/mo—saving approx. KRW 900,000 annually.
KRW 125,913/mo (~32 m² unit) vs. approx. KRW 158,000/mo—saving approx. KRW 380,000 annually.
Figures reflect actual billed common charges (including repair reserve burden). Switching to the base common-fee toggle above shows 31%, 22% and 17% savings respectively.
A tenant saving KRW 30,000–75,000 every month on common fees has a clear financial incentive to choose and renew at Woongshin Michelan Morning.
When an owner holds multiple units, a 20%–34% lower common-fee baseline protects cash flow and raises effective capitalization rates.
Open monthly disclosure on michelan.kr allows buyers and tenants to audit historical operating expenses before committing capital.
A clear four-step path coordinated by First Corporation & Goldnus
Whether you are acquiring an individual officetel, leasing a ground-floor commercial bay, or reviewing a multi-unit residential package, First Corporation coordinates the transaction alongside Goldnus Co., Ltd.’s on-site management team.
Select unit profile & verify live operating costs
Choose between residential officetel units (Floors 9–27, 456 units) or ground-floor retail bays (Floor 1, 10 units). Verify live monthly billing statements directly on michelan.kr.
Review register, lease/purchase terms & net yield
First Corporation provides the Collective Building Register extract, unit area schedule and a net-yield model incorporating the 20%–34% lower common management fee.
Execute contract & coordinate banking / settlement
Whether purchasing freehold title or entering a commercial/residential lease, we coordinate contract execution, deposit escrow and utility/management account handover.
Title registration, move-in & portal onboarding
Upon closing or lease commencement, register your unit on michelan.kr to access real-time monthly statements, bank ledger disclosures and Goldnus facility support.
Direct verification at michelan.kr
Before visiting the site, inspect the live management fee comparison chart, building register summary and monthly statement archive at https://michelan.kr/.
Integrated management by Goldnus
Learn how Goldnus Co., Ltd. (https://www.goldnus.com/) combines building facility engineering, transparent accounting and leasing linkage.
Ask First Corporation or Goldnus for unit availability and consultation.
Call 1644-0164, email firstco1600@gmail.com, or visit goldnus.com/contact to schedule an on-site walkthrough at Bandalseom1-ro 4.
What you can verify and arrange today
Verify online right now
We arrange for you
- On-site walkthrough of 9F–27F officetel units
- Inspection of 1F commercial retail bays
- Unit-specific historical management bill review
- Net rental yield & cash-flow comparison
- Contract, registration & tenant onboarding support
Your decision points
- Residential officetel vs. 1F retail bay
- Owner-occupation vs. rental yield investment
- Floor level & Sihwa Lake view orientation
- Single-unit vs. multi-unit portfolio acquisition
- Preferred inspection & closing schedule
Verified sources & official portals
- Bandalseom Woongshin Michelan Morning — Official Open-Ledger Portal (michelan.kr) ↗
- Why Transparent Management Keeps Fees Up to 34% Lower — Operational Philosophy (michelan.kr/why) ↗
- Collective Building Register Specifications — Woongshin Michelan Morning (michelan.kr/overview) ↗
- Goldnus Co., Ltd. — Entrusted Building, Accounting & Lease Management (goldnus.com) ↗
- Goldnus Transparent Accounting & Open-Book Management Standard (goldnus.com/transparency) ↗
- Goldnus Official Naver Blog — Bandalseom Management Fee Case Study ↗
- First Corporation — Corporate Advisory Portal (firstcorp.co.kr) ↗
- Act on Ownership and Management of Condominium Buildings (KLRI English Statute) ↗
- Korean Government Architectural Administration System (Seumteo — Building Register) ↗
Advisory note
This briefing is prepared for property evaluation and consultation. Building specifications follow the Collective Building Register (집합건축물대장 표제부, issued June 2026). Management fee comparisons reflect actual billed statements at Woongshin Michelan Morning and rounded figures from nearby Bandalseom complexes.