Korea Technology Subsidiary Wins 35.9 Billion KRW Contract for Siheung MTV Geobukseom Residence Construction

Perspective view of Siheung MTV Geobukseom Residence.

[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company, announced on the 21st that its subsidiary Daewoo Shipbuilding & Marine Engineering Construction (Chairman Kim Yongbin) has successfully secured the contract for the construction of the Siheung MTV (Multi Techno Valley) Turtle Island Residence.

The project contracted to Daewoo Shipbuilding & Marine Engineering Construction is a new residence construction located in Block 2-1 of the commercial land on Turtle Island, Siheung MTV, Jeongwang-dong, Siheung-si, Gyeonggi-do, known as Korea's first smart industrial complex.

This residence will be a single building with 1 basement floor and 15 above-ground floors, consisting of a total of 162 units. Nearby, neighborhood living facilities and a marine leisure center are planned to be established.

The site area is 2,803.50㎡ (848.06 pyeong), with a total floor area of 22,617.30㎡ (6,841.73 pyeong). A floor area ratio of 499.93% and a building coverage ratio of 69.73% will be applied, and the construction period is approximately 22 months from the actual start date.

Siheung MTV, where this project is underway, is a futuristic high-tech complex located on about 3.01 million pyeong of reclaimed land on the northern shore of Sihwa Lake, spanning Siheung-si and Ansan-si. It focuses on knowledge-based industries such as advanced and venture businesses, combining research and development, distribution support functions, and tourism and leisure functions harmoniously.

Transportation access is set for revolutionary improvements. With the MTV Coastal Road, the 3rd Gyeongin Expressway, Yeongdong Expressway, and Pyeongtaek-Siheung Expressway, the opening of the 2nd Outer Ring Road in 2026 will make access to and from the metropolitan area even easier. Additionally, the tram Oido Tourist Complex Station (tentative name), connecting to Oido Station served by Subway Line 4 and the Suin-Bundang Line, and the upcoming opening of the Shinansan Line double-track railway further enhance investment value.

Equipped with a waterfront location, a hot keyword in the recent real estate market, residents can enjoy a pleasant living environment. Each unit will be provided with a terrace or balcony suitable for its size, allowing residents to enjoy unobstructed sea views, excellent natural lighting, and ventilation.

A company official stated, “Siheung MTV is an emerging marine leisure city with excellent highway and industrial complex accessibility,” adding, “Inquiries about moving in are already pouring in not only from tourists and investors but also from actual demanders.”

Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction secured new contracts worth 223 billion KRW in November and 116 billion KRW in December this year, with 2 to 3 additional contracts expected within the year, drawing industry attention to its final order performance for the year.

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