A bird's-eye view rendering proposed by HDC Hyundai Development Company for the Yongsan Maintenance Depot Zone 1 Redevelopment Project. HDC Hyundai Development Company
HDC Hyundai Development Company is introducing a turning point in urban renewal projects by incorporating the concept of town management into redevelopment initiatives.
On May 30, HDC Hyundai Development Company announced that, unlike traditional contractors who focus on securing construction cost margins and rely on the client’s designs, it aims to maximize development profits by directly planning products and establishing design strategies. This approach specializes in organically integrating residential, commercial, and cultural content based on planning that takes into account the characteristics of the city, thereby enhancing not only the asset value of the complex but also the symbolic significance of the city.
HDC Hyundai Development Company sustains the value of spaces even after project completion by implementing efficient construction that considers financial costs and construction periods, as well as quality control centered on user satisfaction. In particular, the company directly operates key spaces within the complex, such as hotels and commercial facilities, and strengthens the premium value of real estate assets through strategies to transform these spaces into local landmarks. This demonstrates a commitment to managing urban spaces even after completion, fundamentally distinguishing itself from traditional construction firms, which do not intervene in operations post-construction.
Furthermore, HDC Hyundai Development Company has entered the competition for the Yongsan Maintenance Depot Zone 1 Redevelopment Project, proposing "The Line 330" project. By proposing HDC Yongsan Town and presenting a developer model that leverages direct connections with affiliates such as Hotel HDC and HDC I’Park Mall, the company is increasing the value of the redevelopment project. The project design, which considers the post-occupancy phase by providing hotel-style amenities and customized town management services to residents, is unprecedented in contractor-centered projects. Through collaboration with SMDP (architectural design), LERA (structural engineering), Samsung C&T Resort Division (landscape), and Park Hyatt (hotel), the company also expressed its ambition to create a landmark and maximize pre-sale revenue, thereby generating additional profits for association members.
With this developer model, HDC Hyundai Development Company is seeking to secure the rights to the underground space development of the Yongsan Station Front Park in Zone 1. This large-scale project connects Seoul Subway Lines 1 and 4, the Shinbundang Line, and the Greater Seoul Metropolitan Express Railway (GTX)-B, and involves complex development of the underground area beneath Yongsan Station Front Park. The strategy to increase regional value by utilizing the floating population of 240,000 people per day at HDC I’Park Mall is directly linked to HDC Yongsan Town.
HDC Hyundai Development Company has established a dedicated Development Division to take full responsibility for planning and operating urban renewal projects. Park Heeyoon, Head of the Development Division at HDC Hyundai Development Company, emphasized, "Global-level urban development is not simply about constructing buildings; the core lies in strategic town management that plans and operates the content of the city," adding, "Urban renewal projects also require a consistent philosophy that encompasses sustainability, a clear vision, and a unique urban identity."
The advantage of operating a dedicated Development Division is that urban renewal projects are evolving from one-off construction projects into long-term urban planning initiatives aimed at increasing asset value and improving residents’ quality of life. The Development Division plays a key role in enhancing the completeness of urban renewal projects by planning customized products that reflect local characteristics and demand, developing strategies for operating commercial and cultural facilities, building community content, and implementing strategies to increase real estate value.
In addition, the company has established an organizational structure capable of systematically pursuing complex development, urban regeneration, and private proposal-type projects, thereby securing a differentiated competitive edge from traditional construction firms focused solely on construction.
A representative from HDC Hyundai Development Company stated, "The core of urban renewal projects lies in going beyond complex development to enhance quality of life and design the future of the city," adding, "We plan to lead a new model for urban renewal projects by presenting a paradigm in which we take responsibility for everything from development to operation as an urban developer, going beyond the conventional framework of construction companies."
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