Hannam District 4 redevelopment project won by Samsung C&T

The construction company of Hannam District 4 in Yongsan-gu, Seoul, where the first and second places in the construction industry competed for a fierce order, was decided as Samsung C&T.

Hannam District 4 Redevelopment Association held a general meeting of its members this afternoon (18th) and voted to select Samsung C&T as the constructor.

Samsung C&T won 675 votes, or 65.8% of the 1,026 total votes, beating its rival Hyundai Engineering & Construction to become the contractor.

Samsung C&T has been competing for orders by securing 100% of the members' households view of the Han River, paying 31.4 billion won for the construction cost increase before the start of the construction, and loans for 150% of LTV's migration costs.

The Hannam District 4 redevelopment project is a 1.6 trillion won project to build 2,300 apartments on 160,000 square meters of land in Bokwang-dong, Yongsan-gu.