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Ssangyong E&C to Remodel ‘Myeongil Hyundai Apartment Complex in Gangdong District, Seoul

2022-11-21

 

Ssangyong E&C announced that, at a general assembly of the Myeongil Hyundai Apartment Complex Remodeling Association held last weekend (November 19), the company was ed as a contractor for the remodeling of the complex. After horizontal remodeling, Myeongil Hyundai, built in 1988, will be transformed from two 15-story apartment buildings (B1/15F) consisting of 226 units to two 19-story apartment buildings (B4/19F) featuring 255 units. The newly added 29 units will become available for general presales. The project value is KRW 83.5 billion (approximately USD 62.4 million).

 

This project is Ssangyong E&C’s first apartment remodeling project in Gangdong District, Seoul. It is also the third one for the company this year, after the Bugae LH Apartment Block 3 Remodeling Project in Incheon, which involves some 2,000 units and the Munjeong Hyundai Apartment Complex Remodeling Project in Songpa District, Seoul, which the company won in July.

 

The first floor will be remodeled into a piloti structure for a greater sense of openness, and the deck floor above the structure will be home to an outdoor lounge area featuring a fountain and an art garden. As for the exterior of the buildings, they will be finished with glass materials that create a curtain-wall look in the image of a cube to convey refined urban aesthetics. At the same time, an imposing structure that appears to surround the front of the premises, as well as the main complex entrance supported by massive columns, will be built.

 

In addition, the current first-basement parking lot will be expanded to the fourth basement level, which will triple the number of available parking spaces. As for community facilities, the premises will be home to the latest amenities, including a sky lounge and café, fitness club, library, study room, and group exercise room.

 

“Our company has completed more apartment remodeling projects and holds more remodeling-related patents than any other contractor in Korea. Building upon this unparalleled top position, we will continue to expand our remodeling business in the Capital Area and metropolitan cities as well as within Seoul itself,” a Ssangyong E&C official said.

 

Back in July 2000, the company established the industry’s first dedicated team for remodeling, and has since delivered four complete apartment remodeling projects. Thus far, the company’s track record in this field totals 18 housing complexes involving more than 15,500 units, with a combined value of KRW 3.1 trillion, or some USD 2.3 billion (including this project).