Samsung C&T Selected as Contractor for Hannam District 4... Defeats Hyundai Engineering & Construction

by Kim Hye Min

Published 18 Jan.2025 18:01(KST)

Samsung C&T Wins 675 Out of 1,026 Votes

Samsung C&T, ranked first in construction capability evaluation, defeated Hyundai Engineering & Construction, the industry's second place, to be selected as the contractor for the Hannam 4 District redevelopment project in Yongsan-gu, Seoul.

Perspective view of 'Raemian Glow Hills Hannam' in Hannam District 4 proposed by Samsung C&T. (Provided by Samsung C&T)

The Hannam 4 District Redevelopment Association held an extraordinary general meeting on the afternoon of the 18th at Itaewon Church in Seoul to select the contractor, deciding through a vote. Out of 1,153 total association members, 1,026 votes were cast, with Samsung C&T receiving 675 votes, Hyundai Engineering & Construction 335 votes, and 16 abstentions or invalid votes.

Hannam 4 District is a redevelopment project of the area around 360 Bogwang-dong, Yongsan-gu, Seoul, constructing apartments and auxiliary welfare facilities consisting of 51 buildings ranging from 7 basement floors to 22 above-ground floors, totaling 2,331 households. Located between Seobinggo Station and Hannam Station on the Gyeongui-Jungang Line, it is considered prime land in the northern part of Seoul. With construction costs approaching 1.6 trillion KRW, it has been regarded as the largest redevelopment project in Seoul. In particular, due to its high ratio of general sales, it is evaluated as having the highest business feasibility among the Hannam New Town projects.

Samsung C&T and Hyundai Engineering & Construction have fiercely competed by bidding for Hannam 4 District. They continuously proposed exceptional conditions such as drastic construction cost reductions, collaboration with renowned designers, and financial support, drawing significant attention from the maintenance industry regarding the outcome.