Daewoo E&C has retained its construction rights by passing the second reapproval vote related to the redevelopment project of Hannam District 2 in Yongsan, Seoul.
According to Daewoo E&C on the 27th, during the general meeting of the Hannam District 2 association held that day, 439 out of 852 total members voted in favor of maintaining the construction contract with Daewoo E&C. There were 402 opposing votes and 11 abstentions. Daewoo E&C was selected as the construction company for the Hannam District 2 redevelopment, beating out Lotte Construction in November 2022.
The Hannam District 2 redevelopment is a large-scale project that involves constructing 1,537 apartments and community facilities across a site of 115,500 square meters in Bokwang-dong, Yongsan. The total construction cost is approximately 790 billion won.
At the time of the contract award, Daewoo E&C proposed building a 21-story (118 meters) apartment, seven stories higher than the existing design, in anticipation of the Seoul government's easing of the 90-meter height limit set to protect Namsan's landscape. However, the Seoul government decided to maintain the height restriction, leading to the cancellation of Daewoo E&C's plans and subsequent internal dissent within the association.
In response, the association held the first reapproval meeting in September last year to discuss the continuation of its contract with Daewoo E&C, where Daewoo E&C passed the reapproval with 414 votes in favor.
This second reapproval was triggered by conflicts over how to handle the road that runs through the complex. Daewoo E&C proposed to create a covering park over the road to integrate the complex, but the association argued for completely abolishing the road, revealing differences in their positions. Ultimately, both sides proceeded to the reapproval vote without finding a consensus.
A representative from Daewoo E&C said, "We appreciate the trust of the members and will quickly advance the project, including the commencement of relocation in the second half of the year, to meet the expectations of the members."