Hyundai Engineering & Construction "This Year’s Urban Renewal Project Orders Surpass 1 Trillion Won, Industry First"

Seoul Jangwi 11-2 Street House, Wonju Wondong Narae District Redevelopment Maintenance Project Contracted

[Asia Economy Reporter Kim Yuri] Hyundai Engineering & Construction announced on the 27th that it has surpassed a cumulative order amount of 1 trillion KRW in urban maintenance projects for the first time in the industry this year. This came after consecutively winning the 'Seoul Jangwi 11-2 Street Housing Maintenance Project' on the 24th and the 'Wonju Wondong Narae District Redevelopment Maintenance Project' on the 25th.

The Jangwi 11-2 district, a street housing maintenance project site, is located in 68-833 Jangwi-dong, Seongbuk-gu, Seoul. It is a project to construct apartments and auxiliary welfare facilities with a total floor area of 23,581㎡, consisting of 2 buildings with 178 households, ranging from 2 basement floors to 15 above-ground floors. The Wonju Wondong Narae District Redevelopment Maintenance Project, located in San 10-1, Wondong, Wonju, Gangwon-do, is a project to construct apartments and auxiliary welfare facilities with a total floor area of 158,059㎡, consisting of 13 buildings with 1,005 households, ranging from 4 basement floors to 22 above-ground floors.

Previously, Hyundai Engineering & Construction won urban maintenance projects this year including the Sinyongsan North Side 2 District Redevelopment Project (303.7 billion KRW), Busan Beomcheon 1-1 District Redevelopment Project (416 billion KRW), and Daejeon Daeheung-dong 1 District Redevelopment Project (85.3 billion KRW). Adding the recent Jangwi 11-2 District (40.2 billion KRW) and Wonju Wondong Narae District (208.9 billion KRW) projects, the total order amount to date is 1.0541 trillion KRW. This marks the industry's first order record exceeding 1 trillion KRW this year. It is twice the amount of Hyundai Engineering & Construction's record for the same period last year (517.2 billion KRW).

A Hyundai Engineering & Construction official said, "Since 2016, we have secured over 1 trillion KRW annually in urban maintenance projects, establishing ourselves as a leader in this field," adding, "based on the industry's top-level solid financial structure and abundant cash liquidity, we will strive to achieve good results in projects such as Hannam 3 District and Hongje 3 District, which are scheduled to select contractors in the second quarter."

This content was produced with the assistance of AI translation services.