IPARK Hyundai Development Company Wins Geumjeong Station Area Zone 1 Redevelopment Project in Gunpo... Worth KRW 448.2 Billion

Bird's-eye view of the redevelopment of Geumjeong Station Area 1 in Gunpo (Image courtesy of IPARK Hyundai Development Company)

IPARK Hyundai Development Company has been selected as the contractor for the redevelopment project in Zone 1 of the Geumjeong Station area in Gunpo, Gyeonggi Province.

IPARK Hyundai Development Company said on October 26 that it had been selected as the contractor after receiving 333 votes in favor from the 381 members who attended the contractor selection meeting for Zone 1 of the Geumjeong Station area, held on October 24.

The project will build 1,137 apartment units, with exclusive-use areas ranging from 39 to 135 square meters, across 10 buildings with up to 35 floors above ground and four basement levels, along with ancillary and community facilities. It will cover the area around 727 Geumjeong-dong. The construction cost is KRW 448.2 billion.

Geumjeong Station, a transfer station for subway Lines 1 and 4, is located in the area, providing convenient access to major parts of the Seoul metropolitan area, including downtown Seoul and Gangnam. Residents can also use local amenities, including shopping facilities such as AK Plaza and E-Mart, as well as medical facilities.

An IPARK Hyundai Development Company official said, "We will make Zone 1 of the Geumjeong Station area a new landmark in Gunpo." The official added, "Building on our differentiated project capabilities and brand competitiveness, we will expand our construction contracts for urban redevelopment projects and strengthen our business competitiveness."

Having surpassed KRW 2 trillion in cumulative contracts for urban redevelopment projects this year, IPARK Hyundai Development Company plans to continue pursuing projects, including the reconstruction of Mok-dong Complex 11 in Seoul, the reconstruction of Haan Jugong Complexes 6 and 7 in Gwangmyeong, the redevelopment of Zone 3 in Neunggok, Goyang, the redevelopment of Zone 2 in Banghwa, and the redevelopment of long-term rental housing in the Sookdaeipgu Station area.

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