On the 5th, Hyundai E&C announced that it had signed a memorandum of understanding (MOU) with the Seoul Hyundai Foundation regarding the development of idle land located in Apgujeong-dong, Gangnam-gu, Seoul, at the Jung Ju-young Memorial Hall of Hyundai High School.
The purpose of this agreement is to develop the nearby idle land (423, 424 Apgujeong-dong, Gangnam-gu) of Hyundai High School, which is established and operated by the Seoul Hyundai Foundation.
Hyundai E&C plans to develop this site, adjacent to the Apgujeong 2 District project site, into educational facilities (elementary school, international school) in collaboration with the Seoul Hyundai Foundation, transforming it into a center of residential, educational, and cultural services representing the Gangnam area.
Established in May 1985, Hyundai High School is an autonomous private school celebrating its 40th anniversary this year. It was founded and is operated by the Seoul Hyundai Foundation, with Jung Ju-young serving as the first chairman.
Hyundai E&C and the Seoul Hyundai Foundation plan to inherit the business patriotism belief of late chairman Jung Ju-young, strengthen local infrastructure, and expand a 'win-win development' model that benefits both the members of the Apgujeong 2 District association and the entire local community.
At the signing ceremony, Lee In-ki, head of the housing business division of Hyundai E&C, noted, "This agreement signifies our intention to carry the value and identity of Apgujeong to the next generation, going beyond simple development cooperation," and added, "We look forward to the premium infrastructure for housing, education, and culture that Hyundai E&C, which has created the history of Apgujeong, will build in partnership with the prestigious Hyundai High School and the future that will change through it."
A representative from the Seoul Hyundai Foundation stated, "We will ensure that both the local community and the association members benefit from the development of living infrastructure, including educational, sports, and cultural facilities such as elementary schools," and added, "We will carefully monitor to ensure that there is no disruption to students' educational environment and school operations during the reconstruction period."
Hyundai E&C will closely cooperate in the development of the idle land of Hyundai High School. The company plans to focus on ensuring student safety and protecting the learning environment by minimizing construction noise and vibration, reducing nighttime work, and installing sound barriers.
The Apgujeong 2 District reconstruction association plans to announce a bidding notice within this month. They intend to select a construction company through a general meeting of association members in September.
The Apgujeong 2 District has been the foundation of the Apgujeong Hyundai Apartments, created by Hyundai E&C since the mid-1970s. Built as one of the rare high-rise apartments over 15 stories at the time, it has emerged as a symbol of affluent neighborhoods in Korea.