[Constructionin] "Hannam, Apgujeong, and Yeouido with Raemian"

Im Cheol-jin, Head of Housing Order Team 1 at Samsung C&T Construction Division
Strategy Focused on Winning Core Location Orders
Selective Orders in Areas with Business Viability and Regional Symbolism
Opened On-site Offices to Reflect Field Voices
"Luxury is Unchanging" - Raemian Single Brand Principle

Editor's Note'Construction in' is an interview series focusing on individuals active in the construction industry. We aim to deliver vivid industry stories by meeting construction professionals who stand out in various fields such as core businesses and new growth engines of construction companies.

Im Cheol-jin, Head of Housing Orders Team 1 (Executive Director), is being interviewed by Asia Economy at the Samsung C&T Corporation headquarters building in Sangil-dong, Gangdong-gu, Seoul.

"The selective bidding policy will not change. The principle is to mainly secure orders in areas with business viability and regional symbolism. We are making extensive preparations for key locations in Seoul such as Hannam, Apgujeong, and Yeouido."

On the 4th, Lim Cheol-jin, Executive Director and Head of Housing Order Team 1 at Samsung C&T, ranked first in construction capability evaluation and leading the reconstruction and redevelopment bidding battles, revealed this principle of order acquisition. He added, "Since last May, we have established dedicated order offices in Yongsan, Seocho, and Gangnam to reflect the voices from the field and prepare accordingly."

Executive Director Lim is a veteran in the domestic housing sales sector, having worked for nearly 30 years at Samsung C&T handling reconstruction and redevelopment projects. The area under the jurisdiction of Housing Order Team 1, to which Lim belongs, includes the northern part of Seoul, Seocho, Dongjak, and Yeongdeungpo districts. Samsung C&T, which made a spectacular return to the redevelopment market in 2020, achieved 2 trillion KRW in new domestic housing orders last year. As the volume of redevelopment project orders, which had been delayed since last year, is expected to pour in over the next 3 to 4 years, Samsung C&T has set its order acquisition target for this year at 3.4 trillion KRW.

Regarding Yongsan, Executive Director Lim is closely watching projects where contractor selection is imminent, such as Hannam District 4 and Namyeong District 2. He explained, "The establishment of the Yongsan office was a measure taken in anticipation of upcoming development projects. We are actively working on Hannam District 4 and Namyeong District 2, and there are numerous redevelopment projects in Yongsan including Cheongpa-dong, Huam-dong, Wonhyo-ro, and Hyochang-dong. With many key location projects like Seobinggo Shindong-a and Cheonghwa Apartments, Yongsan is a particularly focused area."

Special preparations are also underway for areas such as Apgujeong, Yeouido, and Mok-dong, where fierce bidding wars among construction companies are expected in the future. Executive Director Lim said, "For excellent locations, products must be tailored accordingly. Through research, we identify the demands of the union members and ensure these are reflected in the bids." He added, "Given the current high uncertainty in the housing market, we emphasize financial stability and plan to promote the premium image through ‘Raemian NextHome’ with structures like Next Lamen and Homnic."

Im Cheol-jin, Head of Housing Orders Team 1 (Executive Director), is being interviewed by Asia Economy at the Samsung C&T Corporation headquarters building in Sangil-dong, Gangdong-gu, Seoul.

However, unlike other construction companies that create separate high-end brands to target prime locations like Gangnam, Samsung C&T sticks to ‘Raemian’. Names like One Bailey and One Pentas are merely pet names; the ‘One Series’ is not Samsung C&T’s high-end brand. Executive Director Lim stated, "In bidding battles, we often say ‘luxury brands do not change their names.’ Sometimes union members provide ideas for naming, and if requested, we offer naming candidates, but we strive to maintain the authenticity of the Raemian brand."

He believes that the brand value of ‘Raemian’ is important because even if a high-end brand is created, its rarity will inevitably fade. Executive Director Lim said, "If there are product similarities in communities and the location fits, residents might request naming under the One Series, but I do not think this will last. High-end brands initially target specific areas, but when they become equivalent to general brands, another brand will emerge to replace them, so in terms of sustainability, it is not favorable."

Regarding the recent rise in construction costs, he explained, "This is the first time we have experienced such a rapid and sustained increase in construction costs. After this transitional period, I believe the current level of construction costs will become the standard, or the ‘new normal.’ Products are becoming increasingly premium, and construction technology standards are rising naturally, such as thicker floors to reduce noise between floors, so construction costs inevitably increase."