POSCO E&C Wins Bid for Haeundae Sangnok Apartment Remodeling, First in Busan

Haeundae Sangnok Remodeling Project Bird's-eye View [Photo by POSCO E&C]

POSCO Engineering & Construction announced on the 26th that it has won the remodeling project for Haeundae Sangnok Apartment in Busan.

Completed in 1998 and now in its 25th year, Haeundae Sangnok Apartment is the first remodeling complex promoted by Busan City. The complex will be remodeled from the existing 1,000 households to 1,104 households through expansion of flats and annex buildings. The newly constructed 104 units are planned for general sale. The construction cost is 388.9 billion KRW.

POSCO Engineering & Construction proposed the complex name as ‘The Sharp Haeundae Primus’. The complex will see a significant increase in community facilities such as a sky community, fitness center, and golf practice range. The existing above-ground parking lot will be converted into a park with landscaping, creating five themed gardens and three themed walking trails. The underground will be expanded by four floors, increasing parking spaces from 0.72 spaces per household to 1.5 spaces per household, greatly improving parking convenience. They also plan to realize an energy-saving eco-friendly residential space based on a safe seismic structure.

Since 2014, POSCO Engineering & Construction has achieved a cumulative order record of 33 sites and 35,265 households. A POSCO Engineering & Construction official stated, “Reconstruction and remodeling are substitute relationships, and it is expected that projects will be promoted according to the individual characteristics of each aging complex by comprehensively reviewing factors such as aging, economic feasibility, and urgency.” He added, “If a system that activates both reconstruction and remodeling simultaneously operates, it is expected to have a great effect on housing supply and price stabilization.”

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