Korea Technology Subsidiary Secures New 51.8 Billion KRW Mixed-Use Residential and Commercial Project in Daegu Sinam-dong

Perspective view of the residential-commercial complex development project in Sinam-dong, Dong-gu, Daegu.

[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company (CEO Shin Yonggu, Lee Byunggil), announced on the 26th that its subsidiary Daewoo Shipbuilding & Marine Engineering Construction (Chairman Kim Yongbin) has won a contract worth approximately 51.8 billion KRW for the Daegu Sinam-dong mixed-use residential and commercial development project.

The project contracted to Daewoo Shipbuilding & Marine Engineering Construction involves the construction of a mixed-use residential and commercial complex with 6 basement floors and 17 above-ground floors at 259-5 Sinam-dong, Dong-gu, Daegu Metropolitan City. The contract is jointly undertaken by Daewoo Shipbuilding & Marine Engineering Construction (70%) and Samwoo IMC.

The mixed-use complex will include 191 residential units and retail facilities. The construction period is 34 months from the actual start date, with completion expected by the end of 2023.

The greatest advantage of the Sinam-dong mixed-use complex is its transportation convenience. It is located in a prime station area just a 2-minute walk from Dongdaegu Station of the Daegu subway, allowing quick access to downtown Daegu.

Dongdaegu Station houses the KTX and the Dongdaegu Terminal, a complex transfer center, enabling access within one hour to Daegu-Gyeongbuk and Gyeongnam regions, and within two hours to the Seoul metropolitan area. Using the complex transfer center, rapid access to Incheon Airport, Busan, and other parts of the country is possible, boasting excellent regional connectivity.

Additionally, Dong-gu Office Station (Keungogae) on the Daegu subway is within a 10-minute walk, offering a double station area lifestyle and perfect transportation infrastructure.

The educational environment is also excellent. Residents can walk to top schools including an attached kindergarten, Deokseong Elementary School, Sina Middle School, Daegu Tourism High School, and Daegu Technical High School. The Daegu Metropolitan City Eastern Library is also nearby for local residents' use.

Seo Boknam, CEO of Daewoo Shipbuilding & Marine Engineering Construction, said, “The Sinam-dong mixed-use apartment complex is adjacent not only to transportation and educational infrastructure but also to Dong-gu’s largest commercial area, including cinemas and large shopping facilities,” adding, “Due to the excellent surrounding infrastructure, inquiries about moving in have been continuous.”

He continued, “This month alone, we have secured four new contracts worth 223 billion KRW. We aim to break the record for the highest contract amount by the end of this year and lay the foundation for rapid growth early next year.”

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