The E&M, Hyundai Construction, and Kumho Construction Sign MOU for Cheongna Video Culture Complex Project

THE E&M is set to actively promote the Cheongna Video Culture Complex Project in partnership with first-tier construction companies Hyundai Engineering & Construction and Kumho Construction.

According to THE E&M, CEO Shin Hwan-ryul, Hyundai E&C Executive Director Choi Jae-beom, and Kumho Construction Vice President Kim Seok-ho announced on the 3rd that they signed a strategic business agreement (MOU) for the Cheongna Video Culture Complex Project under the Incheon Free Economic Zone Authority (hereinafter ‘IFEZ’).

(From left) Seokho Kim, Vice President of Kumho Construction; Hwanryul Shin, CEO of The E&M; Jaebeom Choi, Executive Director of Hyundai Construction. / Photo by The E&M

Through this business agreement, Hyundai E&C and Kumho Construction will construct indoor and outdoor studios, media centers, and cultural attraction facilities comprising the video culture complex on 70% of the site in Cheongna-dong, Seo-gu, based on the proposal THE E&M consortium submitted to IFEZ last year. The remaining 30% of the site will be developed with officetels, office facilities, and neighborhood living facilities.

Accordingly, THE E&M plans to realize the blueprint by consulting with domestic and international OTT (online video service) providers and various content operators, including production companies that have expressed interest in participating in the program, and create leisure spaces that Cheongna citizens can enjoy.

According to the company, Hyundai E&C has executed 873 overseas projects in 62 countries worldwide and operates about 200 sites nationwide in South Korea. According to Korea Ratings, it is recognized for having top-tier construction capabilities and order-winning competitiveness in the industry, having made history as the first domestic construction company to join the 9 trillion won club.

Meanwhile, Kumho Construction, boasting a 50-year history, is known as a ‘strong player in airport construction’ with all eight construction technologies required for airport building. Domestically, it has constructed ▲Incheon International Airport ▲City Airport Terminal ▲ASEM Convention Center ▲Gwangju New Government Building ▲Gimhae Airport ▲Yangyang Airport ▲Jeju Airport ▲Muan International Airport, among others.

A representative from THE E&M stated, “We expect synergy through cooperation with the best construction companies equipped with expertise, technology, and know-how,” adding, “We will do our utmost to successfully develop this project into a landmark that serves as a hub for the video culture industry and a new growth engine for Cheongna.”

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