HDC Hyundai Development Company and POSCO E&C are going head-to-head for the construction rights of the Yongsan Maintenance Depot Jeonmyeon 1 District.

Perspective view of Yongsan Maintenance Depot Front Zone 1 proposed by HDC Hyundai Development Company. Provided by HDC Hyundai Development Company

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On the 15th, the redevelopment maintenance project association for Yongsan Maintenance Depot Jeonmyeon 1 District closed its bidding for construction company selection, with both HDC Hyundai Development Company and POSCO E&C participating. The Jeonmyeon 1 District association plans to hold a joint briefing session on the 31st of next month, after which the construction company will be selected at the general meeting in June.

The Yongsan Maintenance Depot Jeonmyeon 1 District redevelopment project involves building 777 apartment units and 894 officetel units, along with retail, neighborhood living, and office facilities across 12 buildings ranging from 6 basement floors to 38 above-ground floors at 40-641 Hangangno 3-ga, Yongsan-gu. The total construction cost is 955.7 billion KRW, with a cost of 9.6 million KRW per 3.3 square meters.

Both companies have expressed strong intentions to win the Jeonmyeon 1 District project by presenting business conditions and design proposals even before the bidding deadline for construction company selection.

HDC Hyundai Development Company announced plans to attract the global hotel brand 'Park Hyatt' to Jeonmyeon 1 District. Park Hyatt is the top-tier hotel brand of the Hyatt Group, currently operating in two locations in Korea: Samseong-dong, Seoul and Haeundae, Busan. Both were developed by HDC Hyundai Development Company and are operated by its subsidiary, Hotel HDC. The plan is to build a Park Hyatt Hotel in Jeonmyeon 1 District to absorb global business and tourism demand linked to the Yongsan International Business District.

HDC Hyundai Development Company has announced its intention to partner with domestic and international companies in landscaping, design, and commercial facilities to develop Jeonmyeon 1 District into a global landmark. Collaborations include SMDP, a US architectural design group; LERA, a US structural engineering firm; Samsung C&T Resort Division for landscaping; and CBRE Korea, a global real estate consulting firm, for the retail master plan. HDC Hyundai Development Company is headquartered at Yongsan I'Park Mall and plans to develop HDC Yongsan Town in connection with the underground park in front of Yongsan Station and the Yongsan Railroad Hospital site development project.

A bird's-eye view of Front Zone 1 of Yongsan Maintenance Depot proposed by POSCO E&C. Provided by POSCO E&C

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POSCO E&C announced that it will apply its high-end brand 'Otier' to Jeonmyeon 1 District and collaborate with global architectural firm UN Studio to present a differentiated design. UN Studio has carried out numerous global projects, including the Mercedes-Benz Museum in Germany and a mixed-use complex in Singapore, and has participated in projects such as Hannam District 4 and Apgujeong District 3.

POSCO E&C plans to design Jeonmyeon 1 District with the concept of a "stage for the lives of future generations," integrating views, community, commercial facilities, and public circulation in a multidimensional way. POSCO E&C also highlights its experience in super high-rise buildings and complex development projects, such as Haeundae LCT, Yeouido Parc1, and Songdo International Business District, as a key strength.