[K-Construction, A New Leap] POSCO E&C
Leading the Multi-family Housing Remodeling Business... Ranked No.1 in Orders for 2 Consecutive Years
Preparing for Entry Since 2012... Expanded Remodeling Team to a Department
Technology Development and Product Differentiation... Enhancing The Sharp Brand Awareness
POSCO E&C is maintaining its position as a leader in the multi-family housing remodeling business. From 2014 to the end of October this year, it has secured remodeling projects worth approximately 11 trillion KRW across a total of 42 sites (42,721 households). In February this year, it won the first remodeling project in Deogyang-gu, Goyang-si, Gyeonggi Province, Starlight Booyoung Complex 8 (498.8 billion KRW), and in August, the Maehwa Village Complex 2 in Bundang-gu, Seongnam-si (554.4 billion KRW). Last year, it achieved orders worth about 2 trillion KRW, firmly holding the top spot in remodeling project orders for two consecutive years following 2022.
Proactive Response to Remodeling Market Expansion... POSCO E&C Stands Out
Remodeling is a project that renovates buildings while retaining their framework into new apartments. It replaces facilities and finishing materials with the latest systems and secures insufficient exclusive spaces, community facilities, and parking lots through partial extensions. It optimally utilizes resources to improve residential performance and enhances the safety of existing buildings vulnerable to earthquakes and fires. It can also improve energy efficiency.
In advanced countries such as Europe and the United States, remodeling is widespread. Since remodeling is an eco-friendly project that reduces carbon emissions, financial support, tax refunds, and exemptions from property holding taxes are applied. Research also shows that remodeling reduces carbon emissions by about 48% compared to reconstruction during demolition and construction processes.
POSCO E&C has anticipated the gradual expansion of urban regeneration projects in Korea and has been preparing to enter the remodeling market since 2012. In April 2014, it entered the remodeling sector by securing dedicated personnel capable of performing integrated tasks from design, structural stability assurance, project planning, to construction. Last year, it expanded its remodeling organization to a department level for the first time in the industry and deployed experts in sales, management, and technical fields.
POSCO E&C also stands out in terms of groundbreaking and project execution performance. The first remodeling project to break ground after the revision of remodeling-related laws, Gaepo Woosung Complex 9 (Gaepo The Sharp Tree) in Gangnam-gu, Seoul, was successfully completed in December 2021, and Hyundai Complex 1 (The Sharp Dunchon Foret) in Gangdong-gu was completed in October this year. Songpa-gu’s Seongji Apartment (Jamsil The Sharp Ruben), the only vertical extension permit project in Korea, is scheduled for completion in March next year.
POSCO E&C’s achievements are also remarkable in Bundang, a first-generation new town. Selected as the construction company for five public support remodeling complexes in Seongnam-si, it consecutively broke ground on Mujigae Village Complex 4 and Nutti Village Complexes 3 and 4 in the second half of last year. Moving forward, POSCO E&C plans to further widen the gap in the remodeling market based on accumulated project know-how and technological capabilities.
Remodeling Specialized High-Stiffness Reinforcement Pile Driving and Quality Control Device / Photo by POSCO E&C
Securing Economy, Safety, and Comfort with Remodeling Customized Construction Technology
POSCO E&C has secured and applied technology that repairs and reinforces the remaining structure of existing buildings so that the newly added horizontal and vertical extensions can structurally become one with the existing building.
From demolition work, the company simulates the demolition plan using Building Information Modeling (BIM), reviews demolition methods, confirms the safety of remaining structures, and carries out repair and reinforcement work. To ensure construction quality at the connection points between existing and new structures, 3D scanning technology automatically extracts the actual building’s location, dimensions, and distortions, minimizing errors through BIM.
Using high-rigidity foundation reinforcement pile technology, it efficiently disperses increased loads from vertical and horizontal extensions, enhancing stability. The underground parking lot secures structural safety by combining steel frames and reinforced concrete, and the construction period is shortened by using a method that allows simultaneous construction of the parking lot and the above-ground frame.
Additionally, it has technologies to secure the strength of existing structures through bonding methods that integrate new and old slabs and reinforcement technologies for slabs and walls using carbon fiber sheets. To address the limitation of lowered ceilings caused by installing sprinklers on every floor during remodeling, it compensates with a well-type ceiling. This prevents the space from feeling cramped while installing necessary fire, ventilation, and cooling facilities.
Increased Recognition through Differentiated Product Strategy
POSCO E&C is leveraging its accumulated design and construction technology and practical business capabilities to make its residential brand, The Sharp, a representative brand in the remodeling business as well. It plans to capture customers’ hearts by presenting remodeling as an alternative new residential environment. To this end, it continuously develops and provides differentiated convenience facilities unique to The Sharp. By introducing underground parking lots directly connected to existing households via elevators, creating pleasant ground gardens, various community facilities, and The Sharp’s advanced systems, it transforms aging complexes into premium complexes, enhancing recognition of both The Sharp brand and remodeling.
It is also accelerating remodeling technology development. Using POSCO’s special steel materials, it has succeeded in developing a remodeling-exclusive vertical extension system and high-rigidity steel pipe reinforcement piles. It has also established a remodeling-specialized floor soundproofing system to reduce inter-floor noise and a modular heating and hot water supply system.
A POSCO E&C official said, “Despite the recent real estate market downturn and the government’s announcement of easing reconstruction regulations, the number of complexes pursuing remodeling projects is increasing. From a business perspective, some complexes are more advantageous for reconstruction, while others are for remodeling. Reconstruction and remodeling are not substitutes but complementary.” He added, “Eco-friendly remodeling, which improves residential performance and safety early, reduces greenhouse gas emissions through carbon reduction, and saves energy to lower apartment management costs, will receive even more attention in the future.”
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