# South Korean construction industry developments

> Live situation record from CLSTR: https://clstr.news/situations/south-korean-construction-industry-developments
> Updated: 2026-10-20T23:29:40.000Z. Sources: 3. Developments: 2.

Major South Korean construction firms are managing various large-scale urban redevelopment and infrastructure projects. In Seoul, DL E&C has emerged as the preferred negotiator for the Seongsu Strategic Redevelopment District 2 project, submitting a 2.01 trillion won bid to construct 2,381 residential units. 

Meanwhile, Daewoo E&C is managing separate developments. In the Songpa-gu district of Seoul, a bid for the Garak Woosung 1st Apartment reconstruction project failed to secure a contract due to a lack of competition. Concurrently, a consortium led by Daewoo E&C is negotiating with the South Korean government for a 620 billion won increase in funding for the Gadeokdo New Airport site preparation project, citing rising raw material and fuel costs.

## Timeline

### 2026-10-20: Daewoo E&C faces separate construction developments in Seoul and Gadeokdo

Daewoo E&C is the sole bidder for the 501.9 billion won Garak Woosung 1st Apartment reconstruction, while its consortium negotiates a 620 billion won cost increase for the Gadeokdo New Airport project.

2 sources. https://clstr.news/cluster/daewoo-ec-faces-separate-construction-developments-in-seoul-and-gadeokdo

### 2026-10-02: DL E&C bids 2 trillion won for Seongsu 2 District redevelopment

DL E&C has submitted a 2 trillion won bid proposal for the Seongsu 2 District redevelopment in Seoul, proposing a high-end residential complex named ‘Acro Seongsu’.

2 sources. https://clstr.news/cluster/dl-ec-bids-2-trillion-won-for-seongsu-2-district-redevelopment

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Cite as: South Korean construction industry developments. CLSTR, https://clstr.news/situations/south-korean-construction-industry-developments