GS Construction Establishes Remodeling Team to Accelerate Business Expansion... "Extending to Local Areas"

Perspective rendering of the Munjeong Geonyeong Apartment remodeling project, for which GS Construction was selected as the contractor last April

[Asia Economy Reporter Onyu Lim] GS Engineering & Construction is set to actively advance its remodeling business, leveraging its apartment brand Xi.

On the 13th, GS Engineering & Construction announced that it has established a Remodeling Team under the Urban Maintenance Division 2 through an organizational restructuring of the Architecture and Housing Department's Urban Maintenance Business Group on the 7th, marking the full-scale launch of its remodeling business.

The establishment of the Remodeling Team by GS Engineering & Construction is a proactive response to the growing trend of remodeling projects in the urban maintenance market. Due to the rapid increase of mid-rise aging apartments built in the 1990s, the need for remodeling projects has been rising to improve residential environments and reduce economic costs. In particular, remodeling can be pursued if the building is over 15 years old and receives a safety inspection rating of C or higher (B or higher for vertical extensions), making it a lower threshold compared to reconstruction, leading to an increasing number of complexes undertaking remodeling projects.

Since starting the remodeling project for Cheongdam Kunyoung Apartment in 2018, GS Engineering & Construction has secured four remodeling projects including Songpa Samjeon Hyundai Apartment in 2019, and Munjeong Kunyoung Apartment and Bamseom Hyundai Apartment in April and May of this year respectively, recording a total order amount of 458.9 billion KRW. Additionally, three remodeling projects in Seoul?Sindorim Woosung 1st, Sindorim Woosung 2nd, and Seogang GS Apartment?have been selected as preferred negotiators and are awaiting contractor selection.

The GS Engineering & Construction Remodeling Team will be responsible for discovering and securing remodeling projects through preliminary technical sales and managing the projects of secured complexes. Through this, the team plans to accumulate remodeling technology and project execution capabilities, gradually expanding its presence in the remodeling business.

Meanwhile, GS Engineering & Construction possesses proven technical expertise, having successfully carried out the remodeling of Parnas Tower, completed in 2016, by applying special construction methods such as the UP-UP method, which allows simultaneous construction of eight underground floors and above-ground floors, and the cantilever structure method that expanded underground parking from four to eight floors while using the above-ground parking lot.

A GS Engineering & Construction official stated, “GS Engineering & Construction has solidified its position as the strongest player in the redevelopment and reconstruction market for years, based on the brand power of Xi. With the establishment of the Remodeling Team, we plan to expand remodeling projects across the metropolitan area and provinces, strengthening our number one position in the remodeling market as well.”

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