The three-story building had been undergoing reconstruction when it collapsed at around 2:05 p.m.
A 57-year-old construction worker surnamed Baek is reportedly still buried in the wreckage.
The fire department is conducting a rescue operation.
Two workers and a resident have been taken to hospital with injuries caused by the collapse.
By Lim Jeong-yeo (kaylalim@heraldcorp.com)