Selected as the Final Contractor at the Temporary General Meeting on the 10th
Our Company's First Remodeling Project in Seoul Gangnam
Hyundai Engineering announced on the 11th that it was selected as the final contractor at the temporary general meeting held on the 10th for the selection of the construction company for the remodeling project of Seogwang Apartment in Samseong-dong, Gangnam-gu, Seoul.
This project, solely undertaken by Hyundai Engineering, is worth a total of 199.2 billion KRW. The Seogwang Apartment will be remodeled, transforming the existing 304 units (from basement level 3 to 20 floors above ground) into 333 units (from basement level 7 to 20 floors above ground, with an annex building of 32 floors).
The 29 newly constructed units through annex expansion and horizontal extension are planned to be sold to the general public.
This project marks Hyundai Engineering's first remodeling project secured in the Gangnam area of Seoul. Due to its proximity to Gangnam-gu Office Station, served by Subway Line 7 and the Suin-Bundang Line, and the abundant development benefits around the project site, it is evaluated to have high residential preference and business feasibility.
Hyundai Engineering has recently been prominent in remodeling projects. Since first winning the Gwangmyeong Cheolsan Hanshin Apartment remodeling project in March 2021, it has secured construction rights for a total of nine remodeling projects, accumulating orders worth approximately 2.9 trillion KRW.
Since entering the remodeling business, Hyundai Engineering has quickly secured projects such as the Yongin Suji Samsung 1st Apartment project (awarded in September 2022), the Anyang Pyeongchon Chowon 2nd Complex Daelim Apartment project (awarded in May 2023), and now the Samseong Seogwang Apartment project independently.
A Hyundai Engineering official said, “This project is Hyundai Engineering’s first remodeling project in the Gangnam area of Seoul,” adding, “By securing recognition in key locations in Seoul, we will be able to further strengthen our competitiveness in winning orders.”
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