Daewoo E&C Wins Yeouido Gongjak Reconstruction Contract: "We Will Make It a Landmark on the Han River"

Daewoo E&C has won the contract for the ‘Gongjak Apartment Reconstruction and Maintenance Project’ in Yeouido-dong, Yeongdeungpo-gu, Seoul.

Daewoo E&C announced on the 18th that it was selected as the final construction company for Yeouido’s first reconstruction project by receiving overwhelming support at the owners’ general meeting held on the 17th for the Gongjak Apartment reconstruction project.

The Gongjak Apartment reconstruction project involves constructing three apartment buildings with 570 units and ancillary welfare facilities, office facilities, and retail facilities on a 16,857㎡ site, ranging from 7 basement floors to 49 above-ground floors. The project is implemented by KB Real Estate Trust, with a total construction cost of approximately 570.4 billion KRW.

Daewoo E&C proposed the complex name ‘Summit The Black Edition’ for Gongjak Apartment. The name combines the black label, which signifies the highest grade, and limited edition, meaning a special limited release. A Daewoo E&C official explained, “It reflects Daewoo E&C’s determination to make Yeouido Gongjak Apartment the pinnacle of the Han River.”

This apartment complex is expected to become a landmark in Yeouido through collaboration with world-class international masters. Jean-Michel Wilmotte, a world-renowned architect who designed the Louvre Museum, the ?lys?e Palace, and the Louis Vuitton headquarters, and is a symbol of French architecture, is in charge of the exterior design. Jean-Michel Wilmotte designed the complex inspired by a soaring peacock. Daewoo E&C has prepared sky amenities (convenience facilities) in all three buildings, designed so residents can access them directly by elevator from their units, allowing them to enjoy the beautiful scenery of the Han River and the stunning night view of Yeouido. The sky amenities include a sky lounge, terrace, a signature guest house for visitors, and private spa and gym facilities.

The landscaping of the complex was luxuriously designed in collaboration with the global design and landscaping group SWA, which has planned high-end landscapes such as Burj Khalifa and Disneyland. Cushman & Wakefield, which has successfully managed Korea’s representative commercial facilities such as Yongsan Amorepacific Headquarters, Lotte Department Store Main Branch, and Gwanggyo Galleria Department Store, is responsible for the commercial consulting.

Daewoo E&C proposed a 4-bay or more cross-ventilation structure for all owner households and balcony expansions for all units. Additionally, to provide convenient parking for residents, it secured the largest parking ratio in Yeouido with 2.82 parking spaces per household and provided one private elevator per unit, allowing the elevator hall to be used as a private space for each household. Furthermore, premium luxury finishing materials such as Italian luxury kitchen furniture ‘Dada,’ German ‘K?mmerling’ windows, and solid wood flooring in the entrance hall will be applied.

A Daewoo E&C official stated, “At Gongjak Apartment, Daewoo E&C will not simply build new homes but will present a residential heritage that will become a landmark of the Han River and leave a lasting legacy for the era,” adding, “Starting with Yeouido Gongjak Apartment, we will lead Korea’s upscale residential culture in Mokdong, Apgujeong, and other areas.”

Meanwhile, as market uncertainties have increased this year, Daewoo E&C is focusing on selectively winning competitive projects. So far, Daewoo E&C has secured contracts for four complexes, achieving a cumulative contract amount of 1.6858 trillion KRW, and is also pursuing the reconstruction project of Ansan Jugong Complex 6, where the construction company will be selected on the 23rd.