Samsung C&T Signs Construction Contract with Hannam District 4 Association

Contract Signed Six Months After Contractor Selection
Project Implementation Approval Expected in September,
General Meeting for Management Disposition Planned for Second Half of Next Year

Samsung C&T Construction Division announced on July 31 that it has signed a construction contract with the redevelopment association for Hannam District 4.

Perspective view of Hannam 4 District redevelopment 'Raemian Glow Hills Hannam'. Provided by Samsung C&T Corporation

After being selected as the contractor for the Hannam District 4 redevelopment project on January 18, Samsung C&T held negotiations with the association for about six months and finalized the contract on July 30. The association held a board of delegates meeting on July 25 and approved the agenda.

The Hannam District 4 redevelopment project will create a large-scale complex of 35 buildings with 2,360 residential units on a 162,580 square meter site at 360 Bogwang-dong, Yongsan-gu, Seoul, ranging from 7 basement floors to 20 above-ground floors. The total construction cost is KRW 1.5695 trillion.

The project site is considered a premium location due to its excellent accessibility to major business districts such as Gangnam, Yeouido, and Jongno, and, above all, its direct adjacency to the Han River, which maximizes the potential for river views.

Samsung C&T has proposed the new complex name "Raemian Glowhills Hannam." The company collaborated with the globally renowned design firm UN Studio to create a distinctive exterior design, and applied unprecedented, differentiated designs such as the largest flat park and community facilities ever seen in the Hannam area.

All 1,166 association members will have views of the Han River, maximizing the premium value of the river view. The variable structure design of Samsung C&T's future residential technology, "Next Home," has also been incorporated, allowing for a variety of floor plans according to direction, view, and residents' lifestyles.

A total of five blocks make up Hannam District 4, and each block will feature a themed flat park, collectively spanning over 33,000 square meters. The community facilities will offer 111 types of amenities and 175 programs, including an aqua sports park, healing sauna, golf club, and library lounge, catering to a wide range of age groups. The community facilities will be unprecedented in scale, with a total area of 16.63 square meters per household.

A Samsung C&T representative stated, "Based on Raemian's accumulated project management capabilities, we will not only ensure the rapid progress that association members desire most, but also create the best landmark complex along the Han River."

Starting with this main contract, the Hannam District 4 association plans to pursue project implementation approval in September and aims to hold a general meeting for management disposition in the second half of next year.