SK Construction Simultaneously Wins Urban Renewal Projects in Incheon and Busan... Worth 344 Billion KRW

Perspective view of Incheon Yonghyeon 4 District Redevelopment Project (Provided by SK Engineering & Construction)

[Asia Economy Reporter Chunhee Lee] SK Engineering & Construction announced on the 22nd that it has successfully secured two urban maintenance projects simultaneously: the Incheon Yonghyeon 4 District redevelopment project and the Busan Sajik 1-5 District reconstruction project. The total contract amount is approximately 344 billion KRW.

The Incheon Yonghyeon 4 District redevelopment project involves constructing apartments and auxiliary welfare facilities consisting of 10 buildings with a total of 979 households, ranging from three basement floors to 29 above-ground floors, located in Yonghyeon-dong, Michuhol-gu, Incheon. Construction and sales are scheduled to begin in December 2023, with move-in expected in October 2026. SK Engineering & Construction participated through a consortium with KCC Construction. The total contract amount is about 216 billion KRW.

Yonghyeon 4 District is adjacent to Incheon-daero, providing easy access to Seoul and the metropolitan area, and is conveniently located near the living infrastructure around Inha University. SK Engineering & Construction plans to accelerate the development of the 'SK View Brand Town' in Incheon, including Incheon SK Skyview and Luwon City 1 and 2 SK Leaders View.

The Busan Sajik 1-5 District reconstruction project, also secured on the same day, is a project to build apartments and auxiliary welfare facilities consisting of six buildings with a total of 601 households, ranging from three basement floors to 29 above-ground floors, located in Sajik-dong, Dongnae-gu, Busan. Construction and sales are scheduled to begin in June 2023, with move-in expected in April 2026. The total contract amount is 128.2 billion KRW.

Sajik 1-5 District is evaluated to have excellent transportation infrastructure, including Busan Subway Line 3 Sajik Station, Mandeok Tunnel, and Namhae Expressway. It is adjacent to various educational facilities such as Sajik Elementary School, Dalbuk Elementary School, Oncheon Middle School, and Sajik Middle and High Schools, as well as public facilities including Busan Medical Center, City Hall, and the courthouse.

An SK Engineering & Construction official stated, "Both project sites have excellent location conditions in terms of transportation, education, and living infrastructure, and have high future value. We plan to develop them as landmark apartments representing each region through eco-friendly, smart specialized designs."

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