POSCO E&C has taken on the construction of the redevelopment project for the Bangbae 15 district in Seocho-gu, Seoul, with a total construction cost of 755.3 billion won.
According to the construction industry on the 21st, during the general meeting held in the afternoon to select the construction company for the Bangbae 15 district redevelopment, 546 out of 861 union members voted, and of those, 514 (94.1%) voted in favor, resulting in the selection of POSCO E&C as the construction company.
POSCO E&C had previously participated in two independent bids, both of which were unsuccessful, and had been selected as the preferred negotiation partner. With the acquisition of business rights at the general meeting, the project will proceed as a negotiated contract.
The project site is located in the vicinity of 528-3 Bangbae-dong, Seocho-gu. POSCO E&C plans to build 1,619 housing units in 18 buildings, ranging from 3 basement levels to 25 floors, along with auxiliary welfare facilities. The total floor area will be 319,474.4 square meters (approximately 96,641 pyeong), and the construction cost is around 755.3 billion won.
The project site is near Sadang Station, served by subway lines 2 and 4. It is assessed to have a good traffic and educational environment, being close to I-su Elementary School and Middle School.