쌍용건설

Building on its winning streak over the past year in securing small-scale urban renewal projects, Ssangyong E&C is emerging as a new powerhouse in this sector. In Busan, market redevelopment projects are offering promising business opportunities, and the company has recently achieved the feat of entering this market for the first time.  

At a general assembly of the Busan Yeoncheon Market Redevelopment Association held on December 17, 2022, Ssangyong E&C (Chairman and CEO S. Joon Kim) was ed as a contractor for the Busan Yeoncheon Market Redevelopment Project. The site is located at 364-1, Yeonsan-dong, Yeonje-gu, Busan, and the project is valued at KRW 83.4 billion (USD 65 million).

Market redevelopment projects aim to reinvigorate aging commercial districts by modernizing them. These and other types of redevelopment projects follow the same procedures except that, in market redevelopment projects, a promotion committee and a master plan for market redevelopment must be first prepared before seeking approval for the establishment of a market redevelopment association.  

Once the project is completed, the market district will be transformed into a mixed-use apartment complex under the “The Platinum” brand that consists of two apartment buildings (B5/30F) featuring a total of 248 units. Construction is slated to start in March 2025.