Gwangcheon-dong Redevelopment in Gwangju Selects 'THE H': Business Plan Finalized, Groundbreaking Accelerates

Chairman Moon Gijeong Reappointed, Securing Momentum for the Project

High-End Complex Finalized: 5,015 Units and 45 Stories

General Sales and Groundbreaking to Proceed After Permit Finalization

The Gwangcheon-dong redevelopment project in Seo-gu, Gwangju is regaining momentum, as the cooperative confirmed the reappointment of its chairman and finalized its revised business plan. The cooperative members have chosen Hyundai Construction's high-end brand "THE H" for the project. The cooperative plans to proceed in parallel with the permit modification process and demolition works, preparing in earnest for the general sales and construction groundbreaking.

According to a comprehensive report by The Asia Business Daily on July 22, the Gwangcheon-dong Redevelopment Cooperative held its regular general meeting for 2026 on July 12 at Wedding Group Withus in Seo-gu, Gwangju, and passed the reappointment of Chairman Moon Gijeong. Out of a total of 1,756 votes cast, 1,302 members voted in favor.

Perspective view of the redevelopment project in Gwangcheon-dong, Seo-gu, Gwangju, Jeollanam-do. Provided by Hyundai Engineering & Construction

The main focus of attention at the meeting was the construction contract agreement. Members voted between two business proposals discussed with Hyundai Construction. The first proposal, which applies Hyundai Construction's premium brand "THE H," received 1,498 votes, defeating Proposal 2, which received 152 votes, by a large margin to be selected.

The selected proposal calls for a residential complex with up to 45 stories and 5,015 units. It will provide an average of 1.7 parking spaces per unit, with a total construction cost estimated at approximately KRW 2.15 trillion (KRW 7.475 million per 3.3 m²), and the average general sale price is planned to be KRW 24.02 million per 3.3 m².

In contrast, the second proposal aimed to reduce construction costs by introducing a separate premium brand. It was designed to be up to 49 stories tall, with 5,005 units. The total construction cost was presented as approximately KRW 1.74 trillion (KRW 6.544 million per 3.3 m²), and the average general sale price was set at KRW 22.77 million per 3.3 m². The difference in total construction costs between the two proposals is about KRW 410 billion, and the general sale price differs by approximately KRW 1.25 million per 3.3 m².

The Gwangcheon-dong redevelopment is the largest maintenance project in Gwangju, planned to establish 5,015 apartment units, parks, and associated welfare facilities in the area of 670 Gwangcheon-dong, Seo-gu, Gwangju. The overall project cost is estimated at around KRW 3 trillion.

In recent developments, the project was designated as a special construction zone and underwent an integrated review, which allowed the maximum building height to increase from 33 to 45 stories. The business plan has been adjusted to downsize some of the small and medium housing units while expanding larger and penthouse units. At the general meeting, both the revised business plan reflecting these changes and the construction contract agreement were approved, solidifying the direction of the project.

The cooperative also approved agenda items for applying to amend the integrated review and the business implementation plan. After completing the amended permitting process, it plans to accept new sales applications from members and amend the management and disposition plan before launching general sales. Demolition of hazardous materials and asbestos removal is already underway and will continue in parallel to accelerate construction preparations.

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