Shinbanpo 19 and 25 Integrated Reconstruction to Be Built as 'Raemian'... Samsung C&T Strengthens Its Foothold in Banpo Area [Real Estate AtoZ]

Contractor Selected After Head-to-Head Competition with POSCO E&C

Samsung C&T Corporation was selected as the contractor for the Shinbanpo 19 and 25 Integrated Reconstruction Project in Seocho-gu, Seoul, on May 30, 2026.

On the 30th, representatives from Samsung C&T Corporation's Construction Division are holding a contract celebration ceremony after being selected as the contractor for the integrated reconstruction of Sinbanpo 19 and 25 complexes in front of the Comprehensive Cultural Center at Seoul National University of Education in Seocho-gu, Seoul. In the front row from the left are Vice President Byungyun Jang, Executive Director Jooyoung Kim, Vice President Sangguk Kim, Vice President Myungseok Kim, Executive Director Cheoljin Lim, Executive Director Insook Park, and Executive Director Eunjung Kim. Photo by Jeeun Lee

At the contractor selection general meeting held by the Shinbanpo 19 and 25 Integrated Reconstruction Association at the Comprehensive Cultural Center of Seoul National University of Education in Seocho-gu, Seoul, Samsung C&T Corporation received 239 votes (59.9%), surpassing POSCO E&C, which received 159 votes. Out of the 438 association members, 399 (91.1%) participated in the meeting, with 2 abstentions or invalid votes recorded.

With this contract, Samsung C&T Corporation has added another achievement in the Banpo area, following projects such as Raemian One Bailey and Raemian One Pentas.

The Shinbanpo 19 and 25 Integrated Reconstruction Project involves demolishing a total of 447 residential units, including Shinbanpo 19th Complex (completed in 1982), Shinbanpo 25th Complex (completed in 1984), Hanshin Jinil Villat (1996), and Jamwon CJ Village (2005), and constructing a new complex consisting of 614 units across 7 buildings, ranging from 4 basement levels to 49 floors above ground.

For this bid, Samsung C&T Corporation proposed the name "Raemian Iluchella" for the complex. Leveraging its construction experience in the Banpo area, the company highlighted permanent views of the Han River, financial terms, and specialized community designs as key competitive advantages. The design was planned so that 87% of all units would have Han River views, taking into account possible view obstructions from future nearby reconstruction projects. In the center of the complex, two main buildings with a maximum height of 180 meters and 49 above-ground floors will be constructed, with a sky community planned for the upper floors.

Raemian Illuchella Bird's-Eye View. Samsung C&T Corporation

This was the first time in about two years that Samsung C&T Corporation and POSCO E&C directly competed in the urban renewal project bidding market since the Busan Chokjin 2-1 District Project in 2024. After previously ceding the construction rights to POSCO E&C, Samsung C&T Corporation reclaimed its pride as a leader in the urban renewal sector by winning this rematch along the Han River in Seoul's Gangnam area.

Until the day before the general meeting, both sides repeatedly clashed over financial terms, the legitimacy of their proposals, and the method of reviewing promotional materials. However, with the contractor now selected, the project is expected to proceed in earnest. Samsung C&T Corporation will sign the main contract with the association and participate in subsequent procedures such as obtaining permits and approvals, management disposition, and relocation and demolition.

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