Samsung C&T Corporation Officially Selected as Contractor for Daechi Ssangyong 1st Apartment Reconstruction in Seoul

Estimated Construction Cost: 689.2 Billion Won
Total of 6 Buildings with 999 Units Planned
Complex Name: "Raemian ReneAr Daechi"

Samsung C&T Corporation’s Engineering & Construction Group has been officially selected as the contractor for the reconstruction project of the Daechi Ssangyong 1st Apartment complex in Gangnam-gu, Seoul, with a total construction cost of 689.2 billion won.

According to Samsung C&T Corporation on April 12, the Daechi Ssangyong 1st reconstruction association held a general meeting the previous day and approved the agenda to select Samsung C&T Corporation as the contractor. The project involves demolishing the existing five 15-story buildings with a total of 630 units, built in 1983 in the Daechi-dong area of Gangnam-gu, and constructing six buildings ranging from four basement levels to 49 above-ground floors, providing 999 units (including 132 rental units) along with various amenities.

Overall perspective of "Raemian Renear Daechi" in Gangnam-gu, Seoul. Samsung C&T Corporation

The contractor was selected through a private contract process. The association held the first site briefing in December last year, attended by Samsung C&T Corporation, Hyundai Development Company (IPARK), and Cheil Construction, but only Samsung C&T Corporation submitted a letter of intent. At the second site briefing in January this year, three mid-sized firms—Daebang Construction, Ssangyong E&C, and Jinheung Company—also participated along with Samsung C&T Corporation; however, once again, only Samsung C&T Corporation submitted a letter of intent. After the tender failed twice in a row, the association designated Samsung C&T Corporation as the preferred negotiation partner last February and switched to the private contract procedure. GS E&C, regarded as a strong competitor, withdrew early and did not participate from the first site briefing.

The new name for the complex proposed by Samsung C&T Corporation is “Raemian ReneAr Daechi.” The name combines “Rene,” meaning rebirth or regeneration in French, and “Art.”

The design was led by world-renowned architect Daniel Libeskind from Poland. Libeskind is a leading figure in deconstructivist architecture, famous for projects such as the master plan for the World Trade Center in New York and the Jewish Museum in Berlin. The building exterior will feature Building Integrated Photovoltaics (BIPV) and punched metal panels, creating a façade rarely seen in conventional apartment complexes. Through alternative design, the layout of each building has been optimized so that all 690 association members can enjoy views of nearby natural surroundings such as Yangjaecheon, Tancheon, and Daemosan, and a central plaza of approximately 15,000 square meters has been secured.

The community facilities will offer about 13.2 square meters per household, the highest level in the Gangnam area. The three-story sky community provides panoramic views extending from Yangjaecheon and Tancheon all the way to the Han River, and each building will have an exclusive underground private community for residents. The complex will also feature state-of-the-art residential technologies, including Grade 1 floor noise reduction, waste transfer systems, and an artificial intelligence (AI)-based parking management system. Ceiling heights inside the units are planned at 2.82 meters. In terms of financial conditions, Samsung C&T Corporation, leveraging its AA+ credit rating—the highest among domestic construction companies—has reportedly proposed a structure that can save approximately 15 billion won in Housing and Urban Guarantee Corporation (HUG) guarantee fees.

A perspective view of the Art Lounge 'Spiral Shell' within the complex, developed in connection with Yangjaecheon Waterside Park. World-renowned architect Daniel Libeskind participated in the design. Samsung C&T Corporation

This complex is adjacent to Hangnyeoul Station on Subway Line 3 and is located near renowned schools such as Daehyun Elementary, Daemyeong Middle, and Whimoon Middle and High School, as well as the Daechi-dong private education district. It is also close to Yangjaecheon and Tancheon, and offers convenient access to essential amenities such as Lotte Department Store, E-Mart, and Samsung Medical Center.

Im Cheoljin, Head of Housing Sales Division at Samsung C&T Corporation, stated, “Based on our differentiated proposals that maximize the future value of the complex, we will ensure that Daechi Ssangyong 1st sets a new milestone in Korea’s residential trends.”

Building on this contract, Samsung C&T Corporation plans to pursue additional large-scale redevelopment projects in the surrounding area, including Daechi Woosung 1st, Ssangyong 2nd, Daechi Mido, and Daechi Seonkyung, which are scheduled for future bidding. The company’s annual urban redevelopment order target for this year is 7.7 trillion won.

This content was produced with the assistance of AI translation services.