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Photo = Yonhap news |
[Alpha Biz= Kim Sangjin] Samsung C&T, the leader in the construction industry, has surpassed Hyundai Engineering & Construction to be selected as the contractor for the redevelopment project in the Hanam 4 District in Yongsan, Seoul, on January 18th.
The Hanam 4 District redevelopment project, covering 160,000 square meters in Bogwang-dong, Yongsan, is a massive project with a proposed project cost close to 16 trillion KRW.
After competing fiercely for the Hanam 4 District project, Samsung C&T and Hyundai Engineering & Construction are expected to face off again in the second round for key redevelopment projects, such as the reconstruction of Gaepo Jugong or Jamsil Woosung in the affluent districts of Gangnam, Seoul.
According to the construction industry, Samsung C&T’s construction division and Hyundai Engineering & Construction are still deliberating on whether to participate in the bidding for the Gaepo Jugong 6th and 7th district reconstruction project, for which the deadline is March 12.
The Gaepo Jugong 6th and 7th districts, referred to as the last remaining “prime land” in Gaepo-dong, are slated for redevelopment into 2,698 apartments and supporting facilities on a 116,000-square-meter site, with the plan to build 5 underground floors and up to 35 stories above ground.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
