'Won 1.7 Trillion' Jamsil Woosung Reconstruction Contractor Bidding Fails... Only GS Construction Participates

Jamsil Woosung Apartment Exterior View

The bid for selecting the construction company for the reconstruction of Jamsil Woosung 1, 2, and 3 in Songpa-gu, Seoul, with a total construction cost reaching 1.7 trillion KRW, failed as only GS Engineering & Construction participated. Samsung C&T, which was expected to join the bid alongside GS Engineering & Construction, did not participate this time.

According to the maintenance industry on the 4th, only GS Engineering & Construction participated in the bid for selecting the construction company of the Jamsil Woosung Apartment Reconstruction Maintenance Project Association, which closed at 2 p.m. that day, resulting in a failed bid.

This is the second time the construction company bid for Jamsil Woosung has taken place, following the first in September last year. If the bid fails a second time, the contract will be made through a private contract, but the association raised the construction cost from 8.9 million KRW per 3.3㎡ to 9.2 million KRW per 3.3㎡ in December last year, increasing the total construction cost from 1.6198 trillion KRW to 1.6934 trillion KRW and re-announced the bid. This time was the first bid under the new announcement. The association is expected to proceed with a second construction company bid in the future. The association stated, "We will decide the exact direction after a board meeting."

The Jamsil Woosung reconstruction project involves building 2,860 apartment units and ancillary facilities such as neighborhood living facilities (commercial spaces) on the site at 101-1 Jamsil-dong, Songpa-gu, from four basement floors to 49 floors above ground. The area is a transit-oriented location just a 2-minute walk from Sports Complex Station on subway lines 2 and 9, and crossing the Tancheon Bridge connects it to Gangnam Samsung and Daechi-dong.

Initially, Samsung C&T was expected to participate in the bid, as it had shown moves such as placing Raemian advertisements nearby. If the two companies had competed, it would have been the first time since the 2015 reconstruction construction rights selection battle for Seocho Mujigae Apartments (Seocho Grand Xi). A Samsung C&T official said, "We will decide whether to participate in the bid after comprehensive consideration."

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