Siheung City selects Baegot Partners for 782.6 billion KRW development

Siheung City has selected the ‘Baegot Partners’ consortium as the preferred negotiator for the Baegot Complex Cultural City development project. The project aims to transform a long-vacant site in the northern part of Baegot New City (Baegot-dong 319) into a multifunctional hub.

The consortium, led by Baegot Signature and including Xi'e S&D and Korea Investment & Securities, proposed a development on approximately 40,700 square meters. The plan includes a residential and commercial complex ranging from four basement levels to 45 floors above ground, featuring 1,860 housing units and large-scale commercial facilities. Additionally, a 30,000 square meter sports facility will be constructed to address the local shortage of athletic infrastructure.

The total project cost is estimated at approximately 782.6 billion KRW. Construction is scheduled to begin in late 2028, with a target completion within four years. Siheung City plans to conduct detailed negotiations with the consortium over the next month, aiming to sign a final business agreement by late October before proceeding with administrative procedures.