Dunchon Jugong Reconstruction Association "Cancellation of Resolution on Construction Cost Increase Contract"
The Dunchon Jugong Reconstruction Complex in Gangdong-gu, Seoul, facing a construction halt crisis. Photo by Hyunmin Kim kimhyun81@
View original image[Asia Economy Reporter Song Seung-seop] The Dunchon Jugong Reconstruction Association (Olympic Park Foreon) in Gangdong-gu, Seoul, canceled the past temporary general meeting resolution related to the construction cost increase contract with the construction consortium (Hyundai Engineering & Construction, HDC Hyundai Development Company, Daewoo Engineering & Construction, Lotte Engineering & Construction) on the 16th.
On this day, the association held a regular general meeting at Dongbuk Middle and High School in Dunchon-dong and put forward an agenda to cancel the resolution on the construction contract change made at the temporary general meeting held on December 7, 2019. As a result of the vote, 4,558 out of 4,822 attendees (94.5%) approved it.
The former head of the Dunchon Jugong Association signed a contract through the temporary general meeting to increase the construction cost from 2.6608 trillion won to 3.2294 trillion won. The reasons cited were material upgrades and design changes. However, the newly established association executive team stated that there were many problems with the previous contract and could not accept it.
On the other hand, the construction consortium believes that the construction contract change at that time went through the association's general meeting resolution and received approval from the relevant district office, so there is no problem.
The construction consortium stopped all construction work from midnight the previous day, stating that they cannot carry out credit construction amounting to 1.7 trillion won.
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Meanwhile, the association filed a lawsuit with the Seoul Eastern District Court on the 21st of last month, requesting the invalidation of the construction cost increase contract change. Regarding the construction stoppage, they plan to pursue contract termination if it continues for more than 10 days.
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