Ssangyong Construction Consortium Wins Remodeling Contract for Gwangmyeong 'Cheolsan Hanshin'

Gwangmyeong City's First Remodeling... 235 Households Increased

Gwangmyeong Cheolsan Hanshin Remodeling Rendering (Provided by Ssangyong Construction)

[Asia Economy Reporter Kim Hyemin] Ssangyong Construction announced on the 21st that the consortium with Hyundai Engineering has won the remodeling construction contract for Cheolsan Hanshin Apartment in Cheolsan-dong, Gwangmyeong-si, Gyeonggi-do.

The Ssangyong Construction consortium was selected as the contractor with 92.7% (777 out of 838) approval from the union members attending the remodeling contractor selection general meeting held the previous day. The construction cost is approximately 460 billion KRW. Ssangyong Construction served as the lead contractor of the consortium, with a 50:50 equity split with Hyundai Engineering.

Cheolsan Hanshin Apartment, located at 367 Cheolsan-dong, Gwangmyeong, was completed in 1992. The Ssangyong Construction consortium plans to horizontally extend 12 buildings from basement level 1 to 25 floors above ground to basement level 3 to 26 floors above ground, and newly construct one building with 35 floors.

Accordingly, the existing 1,568 households will increase to 1,803 households, and all 235 additional units will be sold to the general public.

Additionally, a parking lot will be newly established up to basement level 3, expanding the number of parking spaces from 1,002 to 2,705. On the top floor, two 'Sky Community' spaces with views of Anyangcheon Stream for residents will be created. The exclusive area per household will increase from 89.46㎡ to 103.77㎡, and from 129.66㎡ to 150.40㎡.

Ssangyong Construction launched the industry's first dedicated remodeling team in July 2000. Their cumulative contract achievements include 14 complexes totaling 11,000 households, worth approximately 1.5 trillion KRW. They also have experience as the first in Korea to vertically extend two floors.

Executive Director Son Jinseop stated, "We plan to enhance our market dominance by expanding orders for mammoth complexes such as Garak Ssangyong 1st through strategic alliances with large companies that can create synergy in the nationwide expanding remodeling market."

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