Yongsan District to Revitalize Local Economy Linked to Hannam 3 District Redevelopment

Business Agreement Signed with Association and Hyundai Engineering & Construction
to Prioritize the Use of Local Businesses and Workforce in Yongsan District

Yongsan District in Seoul (Mayor Heeyoung Park) is implementing policies to revitalize the local economy in connection with the large-scale redevelopment project underway in the Hannam 3 District.

Heeyoung Park, Mayor of Yongsan District (center), is taking a commemorative photo at the business agreement ceremony for revitalizing the local economy linked to the Hannam 3 District redevelopment project. Provided by Yongsan District.

The district announced on the 20th that it had signed a business agreement on the 18th in the district office's policy conference room with the Hannam 3 District Housing Redevelopment Maintenance Project Association and the construction company Hyundai Engineering & Construction, to promote local economic revitalization by utilizing the local commercial districts.

This agreement was established to prioritize the use of businesses and manpower within Yongsan District during the redevelopment process, thereby laying the foundation for mutual growth within the region and enhancing job creation. The signing ceremony was attended by Mayor Heeyoung Park, Association President Changwon Cho, and Seungbok Jang, Executive Director of the Housing Business Division at Hyundai Engineering & Construction.

According to the agreement, the construction company will give priority to purchasing products from construction equipment and materials suppliers based in Yongsan District and will actively cooperate in hiring local construction workers. In addition, the company will encourage the use of nearby restaurants and support subcontracting with local construction and service companies. The district plans to actively cooperate with permits and administrative support to ensure the smooth progress of the project.

Mayor Heeyoung Park stated, "I hope this agreement will serve as a model case for local economic revitalization linked to redevelopment," adding, "We will continue to discover various win-win models related to large-scale development projects in the future."

Meanwhile, the Hannam 3 District project is a large-scale redevelopment initiative to build an apartment complex with more than 6,000 units and commercial facilities on approximately 380,000 square meters in the Hannam-dong area of Yongsan District. Most households have already completed relocation, and demolition of buildings and various obstacles is currently underway.