HDC Hyundai Development Consortium Selected as Preferred Negotiator for Masan Marine New City Development Project

A panoramic view of Masanhang New City, Changwon-si, Gyeongnam. [Image source=Changwon-si]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] The HDC Hyundai Development Consortium has been selected as the preferred negotiation partner for the Masan Marine New City development project in Changwon, Gyeongnam.

According to the city on the 1st, a preliminary review was conducted on three consortia that submitted business plans at the selection review committee held that day.

Two consortia that violated the bidding guidelines were disqualified, and only Hyundai Development's plan was submitted for evaluation and review.

The HDC Hyundai Development Consortium scored over 800 points in total according to the evaluation and review results based on the bidding guidelines, and was selected as the preferred negotiation partner.

Kim Seong-ho, Director of the Marine Port and Fisheries Bureau, said, "Masan Marine New City is a project of great interest to local residents and has a significant impact, so we will do our best to contribute to the city's policy direction of harmony and coexistence with the old downtown, future innovative growth, and the creation of a global emotional city based on culture, tourism, and smart technology."

He added, "We plan to actively negotiate with the selected preferred negotiation partner and proceed with the project without any setbacks through procedures such as approval of development plans and implementation plan changes."

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