The Yeouido Daekyo Apartments in the Yeongdeungpo District of Seoul are set to establish a reconstruction project implementation plan, with an invitation to tender for the selection of a construction company expected as early as June.
Currently, major construction companies such as Samsung C&T and Lotte Construction are engaged in a silent competition, hanging promotional banners at the site and sending wreaths to the general assembly even before the tender announcement.
According to the maintenance industry on the 29th, the reconstruction association for the Yeouido Daekyo Apartments held a general meeting at the Korea Fire Insurance Association auditorium on the 26th and passed all four agenda items, including the establishment and approval of the project implementation plan. The agenda for the establishment of the project implementation plan and application for approval was passed with a 99% approval rate from participating members.
After passing the integrated review in February, the Daekyo Apartments reconstruction association has entered the next stage of the project implementation approval process. The association plans to issue an invitation to tender for the selection of a construction company in June.
The plan is to hold a selection general meeting in September to choose the construction company and aims to obtain project implementation approval by the end of this year.
According to the plan established by the association, the Yeouido Daekyo Apartments, completed in 1975, will undergo reconstruction to become a new apartment complex with a maximum of 49 floors, 4 buildings, and 912 units, an increase from the existing 4 buildings and 576 units.
Plans are also underway for a multi-cultural sports center that surrounding school students and residents can use as a public contribution facility. This center is expected to have a total floor area of about 11,000 square meters, featuring an indoor swimming pool with six lanes of 25 meters, as well as a golf practice area, yoga room, climbing zone, and various other amenities.
The association will invest 15 billion won in directly selecting foreign designers. They plan to apply designs that maximize the utility of architecture, including exterior design, spatial composition, landscaping, and design of common areas.
Industry experts evaluated that Samsung C&T and Lotte Construction are among the candidates vying for the construction rights of the Yeouido Daekyo Apartments.
An industry insider noted, 'I understand that at the assembly meeting held this month, only maintenance staff from Samsung C&T and Lotte Construction attended,' and added, 'it is still uncertain whether the two construction companies will enter a two-way competition for the contract, but they have shown a willingness to bid, making them likely candidates.'
Residents of Yeouido-dong also reported that Lotte Construction and Samsung C&T have been competing quietly by attending the assembly meetings and sending congratulatory messages and wreaths before the tender announcement.
A resident identified as A said, 'Until a few years ago, GS Engineering and Construction staff were often seen, but these days they are not visible,' adding, 'this year, it seems that the employees from Samsung C&T and Lotte Construction have been visiting the Daekyo Apartments frequently.'
Resident B of the Daekyo Apartments remarked, 'Banners promoting Samsung C&T's Raemian and Lotte Construction's LEEL brands have been hung everywhere on each building,' and said, 'I don't know which construction company will become the contractor, but I hope they propose designs with excellent marketability for the Daekyo Apartments to create a great complex.'