Hyundai ENG and Hyunsan Selected as Contractors for Yongdu 1-6 Public Redevelopment Project

Aerial view of Yongdu 1-6 District. (Provided by Hyundai Engineering)

[Asia Economy Reporter Kim Hyemin] The consortium of Hyundai Engineering and HDC Hyundai Development Company has been selected as the construction contractor for the public redevelopment project in Yongdu 1-6 district, Seoul.

The Hyundai Engineering consortium announced on the 29th that it was finally selected as the construction contractor at the general meeting held on the 27th for the public redevelopment construction contractor selection of Yongdu 1 district.

This project involves supplying 999 apartment units, 85 officetel rooms, and commercial spaces in a public redevelopment on the site around 23-1 Yongdu-dong, Dongdaemun-gu, Seoul, near Cheongnyangni Station, with a scale of 8 basement floors to a maximum of 61 floors above ground. The construction cost is approximately 661.4 billion KRW.

Public redevelopment is a type of maintenance project where public institutions such as Korea Land and Housing Corporation (LH) or Seoul Housing and Communities Corporation (SH) participate in redevelopment projects to accelerate the project speed. This area was selected as a public redevelopment candidate site involving SH in January last year, and it was the first among candidate sites to select a construction contractor.

A Hyundai Engineering official said, "Our proposal of excellent project conditions, including ultra-high-rise alternative designs and exterior specialization to meet the members' demand for luxury in the complex, led to the successful bid," adding, "We will mobilize all our capabilities to develop it as a landmark complex representing the Cheongnyangni Redevelopment Promotion District."

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