Hanyang Enters Busan Redevelopment Market... Wins 100 Billion KRW 'Sambo Apartment Street Housing Redevelopment Project' Contract

Apartment Complex with 327 Households to be Completed in June 2028

Mid-sized construction company Hanyang has succeeded in winning an urban renewal project worth 100 billion KRW in Busan.

Hanyang announced on the 28th that it was finally selected as the construction company for the Sambo Apartment Street Housing Renewal Project in Yeonje-gu, Busan on the 27th.

Perspective view of the Sambo Apartment Street Housing Maintenance Project in Yeonje-gu, Busan. Photo by Hanyang

This project involves the construction of five buildings ranging from two basement floors to 36 above-ground floors, comprising 327 apartment units and auxiliary welfare facilities at 580-4 Yeonsan-dong, Yeonje-gu. The total construction cost is approximately 100 billion KRW. Construction is scheduled to begin in May next year, with completion and move-in targeted for June 2028.

The complex is located in a double station area near Gyodae Station, where Busan Subway Line 1 and the Donghae Line intersect, and Yeonsan Station, where Lines 1 and 3 intersect. Nearby road networks such as Geoje-daero, Bansong-ro, and Wondong IC provide convenient access to both the inner and outer areas of Busan.

Residents can also conveniently use the living infrastructure centered around Yeonsan Station and Gyodae Station. Large marts, cinemas, Busan Medical Center, Sajik Sports Complex, as well as Yeonseo Elementary School, Yeonsan Middle School, and Isabel Middle and High Schools are all nearby.

Hanyang explained, “During the selection process as the construction company, our stable financial structure, project capability demonstrated by supplying 230,000 households nationwide, and the brand power of ‘Sujain’ were recognized by the union members.” The introduction of ‘Smart Home Service 2.0,’ specialized designs, and residential systems also received favorable evaluations for product competitiveness.

A Hanyang official stated, “We gained the support of the union members based on Hanyang’s project know-how and the upgraded Sujain brand,” adding, “We will do our best to develop it into a luxury apartment based on our experience in landmark projects in areas such as Cheongnyangni, Uijeongbu, and Cheongna.”