Hyundai and Samsung secure major Seoul apartment reconstruction contracts

Major construction firms have been selected for large-scale apartment reconstruction projects in Seoul's Mokdong and Yeouido districts.

Hyundai Engineering & Construction has been chosen to reconstruct Mokdong Complex 10. The project aims to transform the existing 2,160 units into 4,248 units across buildings up to 40 stories high, with an estimated construction cost of approximately 2.6 trillion won. The proposed complex name is ‘DH Mokdong Esser’.

Samsung C&T has secured the contract for the Yeouido Sibeom Apartment reconstruction. The project involves replacing 1,584 existing units with 2,491 new units in buildings reaching up to 59 stories. Samsung C&T proposed the name ‘Raemian Sonely’ and plans to collaborate with the global architectural firm OMA to enhance Han River views. The estimated construction cost for this project is approximately 2.27 trillion won.

Both projects utilized private contract procedures following unsuccessful initial competitive bidding rounds. While the Yeouido project has already received business implementation approval, the Mokdong project still faces several administrative and permit stages.