The MaplejaI (Sinbanpo District 4) association and GS Engineering and Construction agreed to an increase in construction costs of 788 billion won. This amount represents 25% of the 3.082 trillion won increase previously requested by GS Engineering and Construction.
According to the Sinbanpo District 4 association on the 18th, the association and GS Engineering and Construction agreed to an increase of 788 billion won in construction costs that afternoon. This reflects the results adjusted by the Seoul city coordinator regarding the 3.082 trillion won increase in construction costs requested by GS Engineering and Construction last October.
GS Engineering and Construction requested a total of 3.082 trillion won, adding 511 billion won for the 52-hour workweek system and weekly holiday pay to the 2.571 trillion won increase due to changes in the construction environment at that time. Separately, in January of this year, it filed a lawsuit related to construction payments at the Seoul Central District Court.
The main points of the agreement drafted that day are ▲ "the increase request amount is finalized at 788 billion won" ▲ "the association will present the contents of the agreement at a general meeting, and it will take effect upon approval at the meeting" ▲ "once the general meeting resolution is made, GS Engineering and Construction will immediately withdraw the pending lawsuit."
The additional construction cost increase of 1.834 trillion won requested by GS Engineering and Construction due to "design changes, etc." is currently undergoing verification procedures by the Korea Real Estate Board. An additional request of 600 billion won has also been made on the original request amount of 1.234 trillion won. The total additional construction cost requested by GS Engineering and Construction amounts to 4.916 trillion won.
Kim Hak-kyu, the head of the Sinbanpo District 4 association, noted, "This reflects the results of the adjustment meetings held by the Seoul city coordinator over the past two months," and said, "We have decided to proceed with the management change procedures immediately."
The association plans to conduct a preliminary inspection of the management plan, which will calculate additional contributions per member reflecting the agreed amount and the verification amount from the Korea Real Estate Board by the end of this month. Following this, it will seek approval at the regular general meeting at the end of May, aiming for a smooth move-in on June 30.