Bangbae District 15 Redevelopment Worth 755.3 Billion Won... Reborn as 'Othier Bangbae The One'

94% of Association Members Show Overwhelming Support
High-End Brand Launches in Key Seocho Location
"Othier Bangbae The One" Set to Debut

POSCO E&C has been officially selected as the contractor for Bangbae District 15, a key redevelopment site in Seocho-gu, Seoul. By securing this large-scale maintenance project, which alone carries a construction cost of 755.3 billion won, POSCO E&C is accelerating the expansion of its high-end brand 'Othier' into major areas of Seoul.

Perspective view of Othier Bangbae The One (tentative name). POSCO E&C.

According to the maintenance industry on June 21, the Bangbae District 15 Housing Reconstruction and Maintenance Association held a general meeting at a church in Seocho-gu, Seoul, to select the contractor, ultimately choosing POSCO E&C. Out of 861 association members, 546 participated in the vote, with 514 (94.1%) casting votes in favor, demonstrating overwhelming support.

This project initially failed to attract a contractor twice due to single bids in each round, but POSCO E&C was designated as the preferred negotiator and ultimately secured the project through a private contract.

The redevelopment site is located at 528-3 Bangbae-dong, Seocho-gu. The project will transform the area into 18 buildings with three basement levels and 25 above-ground floors, totaling 1,619 residential units. The total floor area will be 319,474 square meters (approximately 96,641 pyeong), and the construction cost amounts to 755.3 billion won. The site is highly valued due to its proximity to Sadang Station (Lines 2 and 4) and excellent educational facilities such as Isu Elementary, Middle, and High Schools.

POSCO E&C plans to apply its high-end residential brand 'Othier' to the Bangbae District 15 redevelopment project. The proposed name for the complex is 'Othier Bangbae The One' (tentative). 'Othier' is a high-end brand launched by POSCO E&C in 2021, featuring top-tier design, premium materials, and customized spaces for residents.