Hyundai Engineering Establishes Remodeling Sales Team... Full-Scale Expansion of Remodeling Business Begins

Under the Urban Maintenance Sales Office, 'Remodeling TF' Promoted to 'Remodeling Team', Launching Full-Scale Remodeling Business Expansion
Remodeling Organization Composed of Specialized Personnel in Sales, Estimation, and Design to Secure Market Position
Stable Financial Structure and Brand Premium Propel First Urban Maintenance Project Orders Approaching 2 Trillion Won

Hyundai Engineering Suwon Yeongtong Sinseong Sinan Ssangyong Jinhung Apartment Remodeling Perspective View.

[Asia Economy Reporter Kangwook Cho] Hyundai Engineering is establishing a remodeling team and is set to actively expand its remodeling business.

On the 27th, Hyundai Engineering announced that it has upgraded the Remodeling Task Force (TF), which was under the Urban Maintenance Sales Office, to the ‘Remodeling Sales Team.’

Recently, due to intensified competition and stricter regulations in redevelopment and reconstruction projects, there has been a rapid increase in interest from the industry and project sites in remodeling projects, which have relatively faster progress and fewer regulations. Hyundai Engineering’s strategy is to solidify its position in the remodeling market by significantly expanding the remodeling team through the upgrade of the Remodeling Sales Team and the recruitment of specialized personnel in addition to the existing workforce.

Hyundai Engineering achieved 1 trillion KRW in urban maintenance projects for two consecutive years, last year and this year, and is approaching the first-ever 2 trillion KRW milestone in urban maintenance projects since its founding.

In particular, winning remodeling projects has contributed to Hyundai Engineering’s record-breaking performance in urban maintenance projects. The company explained that this is the result of operating a ‘Remodeling TFT’ composed of internal experts in sales, estimation, design, and other fields since last year, anticipating that the remodeling sector would become a new driving force in urban maintenance projects.

In March of this year, Hyundai Engineering won the remodeling project for Gwangmyeong Cheolsan Hanshin Apartments worth 227.5 billion KRW, and in May, it secured the Garak Ssangyong 1st Apartment remodeling project (Hyundai Engineering’s share: 200.5 billion KRW). In June, it also won the remodeling project for Suwon Yeongtong Shinseong Sinan Ssangyong Jinhung Apartments (Hyundai Engineering’s share: 176.7 billion KRW), achieving a total remodeling project order amount of 604.7 billion KRW this year alone.

A Hyundai Engineering official stated, "Starting with the establishment of the Remodeling Sales Team, we plan to accelerate additional remodeling project orders. Based on a stable financial structure and brand premium, we are approaching a record-high 2 trillion KRW in urban maintenance project orders this year. Leveraging this, we will provide the best residential spaces that satisfy the association members."