Hyundai Asan Launches New Housing Brand 'Praheels'..."Actively Promoting Housing Business"

[Asia Economy Reporter Kim Min-young] Hyundai Asan is actively targeting the domestic housing market by launching a new housing brand, 'PRAHILLS'.

Hyundai Asan announced on the 3rd that it plans to first sell units under the PRAHILLS brand in the new construction of a residential-commercial complex near Sosa Station in Bucheon City, Gyeonggi Province, in June. The company intends to apply this brand to various multi-family housing types such as apartments, residential-commercial complexes, officetels, and townhouses in the future.

A Hyundai Asan official stated, "Through the launch of PRAHILLS, we plan to actively promote private construction housing projects," adding, "We will also continue to expand various construction projects in the public sector such as land development and roads, as well as office facilities, commercial facilities, and logistics facilities."

PRAHILLS is a compound word of Prime (best) and Hills (peak). It embodies Hyundai Asan’s commitment to creating optimal living spaces by consolidating its accumulated construction expertise. The slogan of PRAHILLS is 'Art of Balance,' reflecting recent consumer housing trends by aiming for a balanced residential value where work and rest, basics and innovation, nature and technology harmoniously coexist. The brand logo is designed as multiple triangles filled with green and yellow, the representative colors of the Hyundai Group, arranged like a jewel to express stability and a premium residential culture.

Hyundai Asan started as a specialized company for inter-Korean economic cooperation under Hyundai Group in February 1999, following the launch of the Mount Kumgang tourism project in 1998. Focusing on inter-Korean cooperation projects such as Mount Kumgang tourism and the Kaesong Industrial Complex development, Hyundai Asan has continued steady achievements in domestic construction projects since acquiring a general construction license in 2005.

Recently, Hyundai Asan completed residential complexes along Yeongdong-daero in the Gangnam area of Seoul and the Hyundai Weverfore officetel in Samseong-dong. Currently, it is actively carrying out residential construction projects in Yeouido and Banpo-dong in Seoul, Hogye-dong in Anyang, and Dongtan district in Hwaseong City.

Last year, Hyundai Asan achieved its first operating profit surplus in 13 years since the suspension of Mount Kumgang tourism in 2008, thanks to increased construction revenue. This year, Hyundai Asan plans to continue strengthening its growth foundation by focusing on the construction sector.