Dunchon Jugong Construction Consortium Holds Briefing on Construction Suspension

The Dunchon Jugong reconstruction project (Olympic Park Foreon) in Gangdong-gu, Seoul, is facing ongoing conflicts over increased construction costs. In response, the construction consortium (Hyundai Engineering & Construction, HDC Hyundai Development Company, Daewoo Engineering & Construction, Lotte Engineering & Construction) will hold an explanatory meeting regarding the construction halt and its impact on residents.

Hyundai Engineering & Construction, the lead company of the consortium, stated in an official letter titled "Request for Notification to Union Members Regarding Delay and Construction Halt" sent to the union on the 17th, "We will provide accurate information to union members about the current situation, including delays and construction stoppages," and "We will guide members to prepare their move-in and financial plans in advance according to their individual circumstances." The explanatory meeting will be held from the 19th at the model house within the Dunchon Jugong complex until further notice. Union members who wish to attend should make a reservation before visiting the model house.

The reason for the construction halt notification by the consortium is the increase in construction costs. The Dunchon Jugong reconstruction, being built with 12,032 households across three basement levels and up to 35 floors above ground, initially had a construction cost of about 2.6 trillion KRW. However, in June 2020, due to design changes and other reasons, the cost increased to around 3.2 trillion KRW. The current union, however, does not acknowledge this increase, citing procedural issues and claiming that the previous union chairman signed the contract without following proper procedures.

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