Bangbae Shinsamho Contractor Selection Fails... HDC Hyundai Development Company Sole Bidder

Competitive Bidding Fails, Resulting in a Void
Reconstruction Planned for Up to 41 Floors and 920 Households

The bid to select a contractor for the reconstruction of Bangbae Shinsamho Apartment in Bangbae-dong, Seocho-gu, near Gubanpo Station on Line 9, has failed.

Location map of Bangbae Shinsamho Apartment

According to the maintenance industry on May 9, only HDC Hyundai Development Company submitted a bid by the deadline for the contractor selection for Bangbae Shinsamho Apartment that afternoon.

Since a competitive bid was not established in the first round, resulting in a failed bid, the association is expected to proceed with a second round of bidding soon. Under current law, if the contractor selection bid for a maintenance project fails twice under the same business conditions, a private contract becomes possible.

At the project briefing session held in March, nine companies participated: Samsung C&T, Hyundai Engineering & Construction, Daewoo E&C, POSCO E&C, HDC Hyundai Development Company, Lotte E&C, Hyosung Heavy Industries, Kumho E&C, and Jinheung Construction.

Bangbae Shinsamho Apartment was completed in 1981 and consists of six buildings with 481 households. It was designated as a maintenance area in September 2016 and received approval to establish an association in March 2019. After reconstruction, it will be transformed into six buildings with 920 households, ranging from five basement levels to 41 floors above ground. Nearby schools include Seorae Elementary School, Bangbae Middle School, and Seomun Girls’ Middle and High School.

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