Hyundai Construction Nears 7 Trillion Won Maintenance Project Order... First in Company History

Sanbon Mugunghwa Jugong 1 Complex Remodeling Bird's-eye View. (Provided by Hyundai Engineering & Construction)

[Asia Economy Reporter Kim Hyemin] Hyundai Engineering & Construction is on the verge of achieving the '7 trillion won club' for the first time in its history, having recently secured consecutive urban renewal projects.

On the 27th, Hyundai Engineering & Construction announced that it had consecutively won the remodeling project for Mugunghwa Jugong Complex 1 in Sanbon, Gyeonggi Province, and the redevelopment project for Seogeumsa District 6 in Busan.

With these recent wins, the cumulative contract amount this year has reached 6.9544 trillion won. This means the company is close to achieving 7 trillion won in the urban renewal sector based on first-half performance alone.

Mugunghwa Jugong Complex 1 in Sanbon, Gunpo-si, Gyeonggi Province, located at 296 Sanbon-ro, is considered a representative first-generation new town remodeling project. The project involves horizontal and annex expansions to build new apartments up to 25 floors high with a total of 1,444 households. The complex will be transformed into a medium-sized apartment complex with units ranging from 21 to 37 pyeong, increasing by 5 to 9 pyeong per household. On the 25th, the union held an extraordinary general meeting to select a construction company and conducted a vote among union members on Hyundai Engineering & Construction's sole bid, ultimately selecting Hyundai Engineering & Construction as the final contractor. Hyundai Engineering & Construction proposed the name 'Hillstate Atriche' for the complex.

Seogeumsa District 6 in Busan is attracting attention as a large-scale redevelopment project in Geumjeong-gu. The project involves constructing 2,615 apartment units and ancillary facilities in buildings ranging from four basement floors to 40 floors above ground. On the 26th, the union held an extraordinary general meeting and overwhelmingly approved Hyundai Engineering & Construction as the contractor. Hyundai Engineering & Construction collaborated again with the global architectural firm CallisonRTKL, which had worked with them on the Banpo Jugong Complex 1 Districts 1, 2, and 4 reconstruction and Hannam District 3 redevelopment projects, and proposed the name 'Hillstate Piacello' for the complex.

Following last week's early achievement of the '5 trillion won club' for three consecutive years, Hyundai Engineering & Construction is now on the brink of reaching the '7 trillion won club' for the first time in its history with these successive contract wins. A Hyundai Engineering & Construction official stated, "We are actively participating in large-scale urban renewal project bids scheduled for the second half of the year, aiming not only to maintain our industry-leading position for the fourth consecutive year but also to set new records. Rather than focusing solely on contract performance or short-term goals, we will do our best to actively cooperate with union members in advancing their projects as a trusted partner and repay their choice."

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