Samsung C&T Wins Busan Gwangan 3 District Redevelopment Contract Worth 511.2 Billion KRW

Samsung C&T Construction Division announced on the 23rd that it has been finally selected as the contractor for the Gwangan 3 Redevelopment Project in Suyeong-gu, Busan.

The Gwangan 3 District Redevelopment Association approved this agenda at a general meeting held the day before. The project involves constructing seven buildings with 1,085 households and ancillary welfare facilities on the site at 539-1, Gwangandong, Suyeong-gu, Busan, ranging from four basement floors to 35 above-ground floors. The construction cost is approximately 511.2 billion KRW.

Perspective view of the redevelopment of Gwangan 3 District, Suyeong-gu, Busan. (Provided by Samsung C&T)

The area is located in a double station zone with Gwang-an Station on Subway Line 2 and Suyeong Station on Lines 2 and 3. Hoam Elementary School, Donga Middle School, and Suyeong Middle School are within a three-minute walking distance. Behind the complex are Hwangnyeongsan and Geumryeonsan Mountains, and Gwangalli Beach is a 15-minute walk away.

Samsung C&T proposed the apartment name as "Raemian Suyeong The First." In collaboration with the global architectural design group JERDE, the exterior features a vertical design inspired by waterfall waves, and the rooftop design is based on the sail of a sailing ship. A sky lounge offering panoramic views of the Gwangalli sea will be provided. In the center of the complex, a green plaza covering 4,200 pyeong, equivalent to the area of Sajik Baseball Stadium, is proposed as a resting space for residents.

Kim Myung-seok, Vice President and Head of the Housing Business Division, said, "We will repay with a luxury apartment based on differentiated technology that can lead residential culture, worthy of the reputation as Suyeong-gu's first Raemian."