Hyundai Construction Wins Yongsan Ichon and Daejeon Jangdae Contracts... Urban Renewal Surpasses 1 Trillion Won

Yongsan Ichon Gangchon Apartment Remodeling, Daejeon Jangdae B District Redevelopment Contract
474.3 Billion KRW Scale Ichon Gangchon Apartment Remodeling with 'The H Avenue Ichon'
887.2 Billion KRW Scale Daejeon Jangdae B District, First 'The H' Application in Local Metropolitan City

[Asia Economy Reporter Jo Gang-wook] Hyundai Engineering & Construction recently surpassed 1.6 trillion KRW in orders this year. This is a faster pace compared to breaking the 1 trillion KRW mark in May last year.

Hyundai Engineering & Construction announced on the 27th that it secured construction rights for the Yongsan Ichon-dong Gangchon Apartment remodeling project and the Daejeon Yuseong-gu Jangdae B District redevelopment project, achieving orders totaling 1.6638 trillion KRW.

According to the industry, the Ichon Gangchon Apartment Remodeling Housing Project Association and the Daejeon Jangdae B District Redevelopment Project Association held extraordinary general meetings on the 25th and 26th respectively to select a construction company. They conducted a member vote on Hyundai Engineering & Construction’s sole bid as the preferred negotiation partner, ultimately selecting Hyundai Engineering & Construction as the final contractor.

Ichon Gangchon Apartment Remodeling Proposes ‘THE H AVENUE ICHON’ with 113 Additional Households

Echon Gangchon Apartment Remodeling Perspective.

Gangchon Apartment, originally built in 1968 as a government official apartment in the center of Ichon-dong and reconstructed in 1998, is located on a 30,988㎡ site at 13, Ichon-ro 87-gil, Yongsan-gu, Seoul (Ichon-dong 402). It consists of 9 residential buildings with 2 basement floors and 22 above-ground floors, totaling 1,001 households. The association was approved in October.

Gangchon Apartment has a relatively high floor area ratio (FAR) of 339.3%, making reconstruction difficult, so an extension-type remodeling was chosen. Through the remodeling project, without applying FAR restrictions, a FAR of 484.7% and a building coverage ratio of 37.1% will be applied, allowing the construction of 9 residential buildings with 5 basement floors and 29 above-ground floors, increasing the total households to 1,114, an increase of 113 units.

Hyundai Engineering & Construction applied its premium residential brand THE H to the Ichon Gangchon Apartment remodeling and proposed the complex name THE H AVENUE ICHON.

In particular, Hyundai Engineering & Construction plans to elevate the complex’s status by applying THE H Landmark design, featuring a facade design inspired by the waves of the Han River, luxurious finishing materials, a high-end curtain wall look design, and a differentiated rooftop design.

On the top floor (29th floor) of the twin towers, two Sky Peak Lounges will be newly established, offering panoramic views of the Han River and Namsan Mountain. Rooftop Sky Gardens will be created throughout the buildings, providing residents with the best views to enjoy relaxation, leisure, and reading, enhancing the complex’s value and lifestyle quality.

Additionally, the underground space will be expanded to increase parking capacity by 1.5 times. Connected to a sunken garden, the underground space will include a book lounge and study rooms for comfortable reading and learning environments. The remodeling also proposes an integrated community with natural lighting, including a fitness center, indoor swimming pool, golf practice range, screen golf facility, and sauna.

Daejeon Jangdae B District Applies Premium Residential Brand ‘THE H’ for the First Time in a Provincial Metropolitan City

Bird's-eye view of Jangdae B District redevelopment.

Attracting attention as the first provincial metropolitan city to propose Hyundai Engineering & Construction’s premium residential brand THE H, the Daejeon Jangdae B District redevelopment project is located on a 65,246㎡ site at 14-5 Jangdae-dong, Yuseong-gu, Daejeon. It involves constructing 9 residential buildings with 4 basement floors and 49 above-ground floors, totaling 2,900 households, along with ancillary facilities. The construction cost reaches 880 billion KRW, making it the largest redevelopment project in Daejeon.

Jangdae B District is situated in the heart of Yuseong, classified as Daejeon’s new town, and is a transportation hub near Yuseong IC, Guam Station, and Yuseong Hot Springs Station. The project area includes the 100-year-old Yuseong Market, where the nation’s first Jangok redevelopment is underway.

Moreover, a development project for the Yuseong Complex Terminal, equipped with a knowledge industry center and public office facilities, is underway near the site. Upon completion of the redevelopment, the renewed Yuseong Market, Yuseongcheon Stream, and Yuseong Complex Terminal are expected to become regional landmarks.

Hyundai Engineering & Construction aims to make Jangdae B District, where Daejeon’s first high-end apartments will be built, a world-class landmark. They proposed the complex name THE H VIE ART, combining the French word VIE (meaning LIFE) with ART, symbolizing ‘a residential masterpiece where life itself becomes art.’ They plan to showcase luxury specialized designs in collaboration with the world-renowned architectural firm CallisonRTKL.

The complex’s exterior will feature a Gold Wave design symbolizing Yuseongcheon Stream, a 49-floor sky community, and a 30-meter-long ultra-large high-tech gate, creating a landmark representing Daejeon.

Community facilities will include top-grade finishing materials, a guest house with an outdoor infinity pool and party terrace on the top floor, a family pool with a 9.8-meter ceiling height, a 25-meter (3-lane) adult pool and a children’s pool, a 90-meter indoor jogging track, and an indoor golf practice range equipped with GDR at every station, forming a leisure and sports complex.

Open kitchen & dining spaces with sunken terraces, an imagination library, a senior-exclusive healthcare center, a business lounge, and an untact study room will be created to allow residents to enjoy all leisure activities within the complex.

Additionally, Hyundai Engineering & Construction leveraged the unique feature of Jangdae B District as the nation’s first Jangok redevelopment to design a three-themed, three-dimensional market maximizing floor usability and efficiency. They planned elevators connected to Yuseongcheon Stream to enhance market accessibility, proposing various measures for the coexistence and revitalization of Jangdae B District, Yuseongcheon Stream, and the traditional market, receiving favorable reviews from association members.

Last year, Hyundai Engineering & Construction achieved its highest-ever performance with new orders totaling 5.5499 trillion KRW in the urban maintenance business sector and became the first in the industry to rank first for three consecutive years. This year, the company plans to continue actively securing new orders with a focus on solid growth.

A Hyundai Engineering & Construction official said, “We plan to apply THE H to one or two large-scale maintenance projects located in the most strategic locations in provincial metropolitan cities, turning them into landmark apartments symbolizing the region. This year, THE H-branded projects are expected to be seen in Daejeon, Gwangju, and Busan.” He added, “Although the number of projects with excellent locations and business feasibility is increasing, naturally leading to more projects applying THE H brand, we will strictly manage brand application standards to maintain the rarity value of THE H and provide premium residential services befitting the brand, further solidifying its status.”

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