POSCO Construction Wins Reconstruction Project for Juyang Shopping in Gangdong, Seoul
[Asia Economy Reporter Yoo In-ho] POSCO Engineering & Construction announced on the 16th that it has won the contract for the 166.8 billion KRW 'Juyang Shopping Reconstruction Project' (Myeongil-dong Complex Facility Construction).
The Juyang Shopping Reconstruction Project, located in the central commercial area of Myeongil-dong, Gangdong-gu, Seoul, will transform the existing shopping building of 4 basement floors to 8 above-ground floors into two mixed-use residential and commercial buildings with 7 basement floors to 29 above-ground floors. Construction is scheduled to begin in the second half of next year and is expected to be completed in 2024. The first 4 floors above ground will be commercial spaces, and from the 5th floor, there will be residential officetels consisting of 768 units.
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POSCO Engineering & Construction expects that winning this project will allow it to gain a competitive edge in the reconstruction market of aging collective buildings, such as shopping buildings, that have exceeded 30 years of building lifespan.
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