Hoban to Fully Launch Special Development of Private Park Apartments at Odeungbong, Jeju

Jeju Odeungbong Park Special Project Bird's-eye View (Provided by Hoban Construction)

[Asia Economy Reporter Lee Chun-hee] Hoban Construction is set to actively promote the private concession project for Odeungbong Park in Jeju.

Hoban Construction, participating as part of a consortium in Odeungbong Art Park, and Jeju City announced on the 22nd that they signed an agreement for the 'Odeungbong Park Private Concession Project' at Jeju City Hall.

The signing ceremony, held after thorough quarantine measures to prevent the spread of COVID-19, was attended only by a few officials including Andong-woo, Mayor of Jeju City, Lee Young-jin, Vice Mayor of Jeju, Kim Woo-seok, CEO of Odeungbong Art Park, and Park Cheol-hee, President of Hoban Construction. Through this agreement, Hoban Construction and Jeju City pledged to deeply recognize the public nature aimed at improving the quality of life for Jeju residents and to do their best to ensure the successful promotion of the project.

The Odeungbong Park private concession project involves developing a park, cultural facilities, and 1,630 apartment units in the Odeung-dong area of Jeju City. Earlier in January, Hoban Construction formed a consortium with Cheongam Enterprise, Riheon Engineering Group, Daedo General Construction, and Miju General Construction to propose the creation of a 'Healthy Urban Forest' and a 'Culturally Refined Jeju Art Park,' and was selected as the preferred negotiator for the Odeungbong Park project. The total project scale amounts to 816.2 billion KRW.

Hoban Construction plans to donate to Jeju City a complex cultural space on the 764,863㎡ site of Odeungbong Park, preserving the existing landscape as much as possible while constructing a new music hall, remodeling the Art Center and Hallado Library, and creating a deck parking lot. The project implementer is expected to be designated early next year, with the implementation plan approval scheduled for the first half of the year.

This area is located between Ido Ara District and New Jeju, making urban mobility convenient, and is evaluated to have a pleasant environment with nearby lifestyle convenience facilities such as Jeju National University Hospital and Lotte Cinema.

Hoban Construction announced on the 22nd that it held a private concession agreement signing ceremony for the Odeungbong Urban Park project at Jeju City Hall on the same day. (Provided by Hoban Construction)

Andong-woo, Mayor of Jeju City, said, "The goal of this Odeungbong Park development project is to preserve urban parks and forests and to provide citizens with a more comfortable residential environment," adding, "I hope Hoban Construction will greatly contribute to creating a premium park." Park Cheol-hee, President of Hoban Construction, also stated, "We will do our best to make Odeungbong Park an exemplary case among private park concession projects."

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