Hyundai Engineering & Construction Consortium Selected as Preferred Bidder for 2.27 Trillion Won Third Pangyo Project

On October 27, Gyeonggi Housing & Urban Development Corporation (GH) selected the Hyundai Engineering & Construction consortium as the preferred bidder for the Third Pangyo Techno Valley development project.

The Hyundai Engineering & Construction consortium is led by Hyundai Engineering & Construction (35%), with Daewoo Engineering & Construction (27%), Kumho Engineering & Construction (9%), Dongbu Corporation (9%), Shindongah General Construction (10%), Woobitogeon (5%), and ESI (5%) as participating partners.

Through its proposal, the Hyundai Engineering & Construction consortium focused on creating a unique urban landscape for the Third Pangyo by introducing a differentiated landmark design that embodies the city's identity and symbolism.

The complex will be developed as a connected campus structure to promote interaction and collaboration between different industries, and the integrated planning of the lower floors is designed to ensure continuity of movement and facilitate vibrant community formation.

In addition, a specialized multi-level pedestrian facility will connect self-sufficient facility sites 1-1 through 3 and 2, organically linking the waterfront park with major pedestrian routes. The integrated development of underground parking will ensure efficient vehicle circulation and user convenience.

Perspective View of Third Pangyo Techno Valley

For self-sufficient site 1-4, where an anchor company is expected to move in, the use of landscaping structures and pattern designs will enhance above-ground connectivity, thereby improving integration and accessibility between complexes.

GH plans to sign an agreement with the Hyundai Engineering & Construction consortium within this year. In 2026, the corporation will proceed with detailed development planning for the special planning zone and approval for district plan changes. After completing architectural permits, full-scale construction will begin.

The Third Pangyo Techno Valley will be developed on four self-sufficient facility plots (1-1 through 3, and 2) totaling 60,000 square meters within the Seongnam Geumto Public Housing District, with a total floor area of 430,000 square meters and a total project cost of 2.27 trillion won. The complex will include knowledge industry centers, office buildings, commercial facilities, dormitories, research institutes, and other diverse facilities.

Kim Yongjin, President of GH, stated, "The Third Pangyo Techno Valley is a large-scale project with private sector investment alone reaching approximately 1.5 trillion won. It will be a self-sustaining mixed-use complex harmonizing advanced industry, commerce, research, and residential functions. We will successfully build a sustainable innovation cluster through cooperation between the public and private sectors."