IPARK Hyundai Development Company wins 281.2 billion KRW Busan redevelopment contract

IPARK Hyundai Development Company has secured the construction rights for the Yeonsan 13 District housing redevelopment project in Busan, South Korea. During a general meeting held on October 3, the company received 208 votes out of 249, representing an 84% approval rate.

The project, valued at 281.2 billion KRW, involves constructing residential apartments, auxiliary facilities, and neighborhood living facilities. The development will feature buildings ranging from three basement levels to a maximum of 34 floors above ground. The design plan includes a 5,001 square meter central plaza created by reducing the number of residential buildings, as well as a sky community on the top floor to provide views of Mt. Hwangnyeong and Mt. Baesan.

This contract brings IPARK Hyundai Development Company’s cumulative construction orders for urban renewal projects this year to 1.7666 trillion KRW, following previous successful bids in Seongnam and Uijeongbu.