Daewoo Shipbuilding & Marine Engineering Construction, Subsidiary of Korea Technology, Launches Premium Brand for the First Time

[Asia Economy Reporter Minji Lee] Daewoo Shipbuilding & Marine Engineering Construction, a subsidiary of Korea Technology, announced on the 18th that it will launch a new premium brand, The Strad House, in Nonhyeon-dong, Gangnam, Seoul.

Daewoo Shipbuilding & Marine Engineering Construction recently signed a contract for a street housing maintenance project to build approximately 41 apartment units on a site of 1921.50㎡ in Nonhyeon-dong, Gangnam-gu, Seoul, with a scale of 2 basement floors to 12 above-ground floors.

The supply area mainly consists of small to medium-sized units of 64㎡, 69㎡, and 73㎡. Some of the top-floor units will be supplied as duplexes. Construction is scheduled to begin in the second half of 2020, with move-in planned for the first half of 2022. The total construction cost is approximately 11 billion KRW.

The apartment is excellently located within a 5-minute walk from Hakdong Station on Seoul Subway Line 7, a prime station area, and adjacent to a neighborhood park (Gaenari Park). It is also equipped with infrastructure such as convenience stores, community centers, sports centers, hospitals, and banks for residents' convenience.

In this project, Daewoo Shipbuilding & Marine Engineering Construction plans to introduce its new brand, The Strad House. The Strad House is a premium brand newly launched by Daewoo Shipbuilding & Marine Engineering Construction, mainly intended for application in high-end apartment complexes and villas.

Kim Yong-bin, Chairman of Daewoo Shipbuilding & Marine Engineering Construction, said, “The demand for street housing maintenance projects is significantly increasing in central areas of major cities such as Seoul,” adding, “We plan to continue securing street housing maintenance projects through a premium brand strategy.”