Samsung C&T Selected as Construction Contractor for Busan Myeongnyun 2 District Reconstruction

[Asia Economy Reporter Kim Ji-hee] Samsung C&T Construction Division announced on the 27th that it has been selected as the contractor for the Myeongnyun 2 District reconstruction project in Dongnae-gu, Busan.

The Myeongnyun 2 Reconstruction Association held a general meeting for contractor selection on the same day and chose Samsung C&T as the final contractor. The Myeongnyun 2 reconstruction district is a project to build an apartment complex consisting of 6 buildings with 501 households, ranging from 3 basement floors to 28 above-ground floors, located at 702-47 Myeongnyun-dong, Dongnae-gu, Busan Metropolitan City. The construction cost is approximately 189 billion KRW.

The complex is located in an ultra-station area near Myeongnyun Station on Busan Metro Line 1, and is adjacent to Lotte Department Store, Lotte Mart, a cinema, and Oncheoncheon Stream, making it a residential area equipped with convenient living facilities, according to Samsung C&T.

Samsung C&T proposed "Raemian Mark The Suite" as the new complex name. It is a compound word of "Mark," meaning aristocrat or prestigious family, and "Suite," referring to the highest-grade space in a hotel.