Kumho Construction Wins Consecutive Housing Projects in Seongnam Bundang-gu and Incheon Seo-gu

Perspective View of Yatap-dong Private Participation Apartment Project

[Asia Economy Reporter Ryu Tae-min] Kumho Construction announced on the 1st that it has consecutively won housing projects in Bundang-gu, Seongnam City, and Seo-gu, Incheon Metropolitan City.

Kumho Construction stated that after being selected as the preferred negotiator for the 'Yatap-dong Private Participation Apartment Project' in Bundang-gu, Seongnam City last month, it signed a contract for the 'Incheon Wanggil Station Apartment New Construction Project' in Seo-gu, Incheon Metropolitan City, securing two housing projects in a row.

The Yatap-dong Private Participation Apartment Project involves developing the parking lot site of Tapgol Park in Yatap-dong, Seongnam City, into apartments. It will construct four buildings with 242 households, ranging from three basement floors to 21 above-ground floors, at 134-1 Yatap-dong, Bundang-gu, Seongnam City, Gyeonggi Province. The Yatap-dong Private Participation Apartment Project, won by Kumho Construction, is a project ordered by Seongnam Urban Development Corporation (SDC), where SDC supplies the land and Kumho Construction is responsible for construction. The total project cost is 146.9 billion KRW, of which 79.8 billion KRW, excluding land acquisition costs, will be used as private project funds to build the apartments.

A Kumho Construction official said, “As the aging of existing complexes in the urban area progresses, we are pleased to be able to supply new complexes together with Seongnam Urban Development Corporation. Through this public housing supply, we can provide opportunities for home ownership to low-income households without homes and improve the housing stability and living standards of Seongnam citizens.”

Perspective View of Apartment Complex Construction near Wanggil Station, Incheon

Additionally, Kumho Construction secured the 'Incheon Wanggil Station Apartment New Construction Project' in Seo-gu, Incheon Metropolitan City, consecutively winning projects in the metropolitan area. The Incheon Wanggil Station Apartment New Construction Project is ordered by HBC and involves constructing four buildings with 243 households and neighborhood commercial facilities, ranging from two basement floors to 20 above-ground floors, at 1719-4 Oryu-dong, Seo-gu, Incheon Metropolitan City. The total construction cost is 54.7 billion KRW, with construction starting in December this year and occupancy expected in December 2024.

The Incheon Wanggil Station apartments are located in the Oryu housing district, where a large-scale residential complex has already been established, allowing residents to enjoy existing living infrastructure immediately upon moving in. Wanggil Station on Incheon Subway Line 2 is within a 10-minute walk, making it a station-area complex. Incheon Danbong Elementary School is right next to the complex, attracting high interest from parents with young children.

A Kumho Construction official said, “Based on this order, we will focus our capabilities on winning various types of apartment projects planned in the metropolitan area. For the projects we have won, we will do our best to build high-quality homes with Kumho Construction’s technology to ensure successful sales.”