HDC Hyundai Development Company Wins Redevelopment Project for Hong Eun 13 District

[Asia Economy Reporter Yoo In-ho]

HDC Hyundai Development Company has won the contract for the Hong Eun 13 District Housing Redevelopment Project in Seodaemun-gu, Seoul.

HDC Hyundai Steel was selected as the construction company at the general meeting for the selection of the contractor held on the afternoon of the 15th, where it was the sole bidder, receiving 194 votes in favor out of 198 votes cast by 235 total members.

The Hong Eun 13 District Housing Redevelopment Project involves constructing 12 apartment buildings with 827 units, ranging from three basement floors to 15 above-ground floors, on the site at 11-111 Hong Eun-dong, Seodaemun-gu, Seoul. The total construction cost is 189.4 billion KRW.

HDC Hyundai Steel plans to start construction in June and complete it by August 2023. With this, HDC Hyundai Steel has recorded orders worth 437 billion KRW so far this year.

An official from HDC Hyundai Development Company stated, “With our long-standing expertise, we will create an I-Park that embodies new culture and values where nature and the city coexist,” adding, “We expect to infuse the unique dignity of I-Park into Hong Eun 13 District, making it a landmark of Seodaemun-gu.”