Jung Kyunggu, CEO of HDC Hyundai Development Company,
Visits Yongsan Maintenance Depot Front Zone 1 Site with Executives
Pledges to Deliver Tangible Benefits to Association Members through Development Experience
Jung Kyunggu, CEO of HDC Hyundai Development Company, and company executives visited the Yongsan Maintenance Depot Front Zone 1 redevelopment site on April 24, pledging to leverage their development experience in Yongsan to deliver tangible benefits to the association members.
Jung Kyunggu, CEO of HDC Hyundai Development Company (center), and employees directly visited the Yongsan Maintenance Depot Front Zone 1 redevelopment site on the 24th. Provided by HDC Hyundai Development Company.
Jung Kyunggu stated, "Yongsan is not just a business site for HDC Hyundai Development Company; it is a foundation built on years of accumulated trust and experience," and added, "For the Front Zone 1 project as well, we will focus all of HDC Hyundai Development Company's capabilities to provide real, perceptible benefits to the association members."
Jung Kyunggu emphasized the synergy between HDC Hyundai Development Company's various ongoing projects in Yongsan and the Front Zone 1 project.
He said, "HDC has a deep understanding of this area around Yongsan Station, based on numerous successful development experiences such as I'Park Mall, the former Railroad Hospital site, and the underground park project in Yongsan. We will create an HDC Town to generate synergy, delivering benefits that association members can directly experience and ensuring a stable project."
Jung Kyunggu, CEO of HDC Hyundai Development Company (fifth from the left), and executives visited the Yongsan Maintenance Depot Front Zone 1 redevelopment site in person on the 24th. Provided by HDC Hyundai Development Company.
HDC Hyundai Development Company has proposed the name 'The Line 330' for the Front Zone 1 project. If awarded the project, HDC Hyundai Development Company plans to collaborate with global firms such as SMDP (architectural design), LERA (structural engineering), Samsung C&T Resort Division (landscape architecture), CBRE (commercial real estate consulting), LPA (lighting design), and Park Hyatt. The company aims to create a landmark in Seoul that goes beyond Yongsan, maximize sales revenue, and translate it into additional profits for association members.
The Yongsan Maintenance Depot Front Zone 1 redevelopment is an urban renewal project being carried out on a 71,901-square-meter site at 40-641 Hangangno 3-ga, Yongsan-gu, Seoul. The mixed-use development will consist of twelve buildings ranging from six underground to thirty-eight above-ground floors, housing 777 apartment units (678 for sale and 99 for rent), 894 officetel units, and commercial and office facilities. The project cost amounts to 955.8 billion won. As of the bid closing on March 15, POSCO E&C and HDC Hyundai Development Company have participated in the bidding. The association will hold a general meeting in mid-June to select the final contractor.
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