Samsung C&T has shown that it has received an order for one of the redevelopment areas in Apgujeong, which was initiated 24 years ago. This area is Hanyang 7th, currently integrated with Hanyang 5th, 8th, and Region 6 for a collective redevelopment.

According to the maintenance industry on the 13th, the Hanyang 7th association within Region 6 of Apgujeong has selected Samsung C&T's construction division (previously the housing division) as the contractor since 2001. Hanyang 7th is the only site among the six regions where an association has been established. Completed in 1981, Hanyang 7th consists of two buildings with 239 units. At that time, there were plans to transform it into four buildings with 268 units through the redevelopment project.

Graphic=Son Min-kyun

A Samsung C&T official noted, "It is true that we obtained the construction rights back in 2001 and still maintain them," and added, "Due to conflicting interests concerning the integrated redevelopment, we are currently taking a wait-and-see approach."

The Apgujeong area is currently divided into six special planning zones where redevelopment is in progress. Regions 2 to 5 are grouped as a new city planning area by the Seoul city government, allowing for rapid progress of the project. In the case of Region 6, discussions for integrated redevelopment arose while Hanyang 7th was pursuing its individual redevelopment 24 years ago, alongside Hanyang 5th and Hanyang 8th. As negotiations among the three sites are not going smoothly, the redevelopment project of Hanyang 7th is currently at a standstill. Given that it is categorized as a special planning zone, the Seoul city government has indicated an intention for integrated redevelopment.

Hanyang 5th consists of four buildings with 343 units and was completed in 1979. Although it is the largest among the three sites, it is located away from the Han River. Hanyang 8th, completed in 1984, consists of one building with 90 units. All 90 units are large, measuring 60 pyeong or more, and all have views of the Han River. Residents of Hanyang 8th reportedly have a strong desire to maintain their full river view through individual remodeling projects rather than integrated redevelopment.

Park Hapsu, an adjunct professor at the Graduate School of Real Estate at Konkuk University, stated, "Initially, the apartments aimed to pursue their own projects, but they have ended up being grouped into a special planning zone, complicating interests," and noted, "Especially for Hanyang 8th, which has secured a 100% view of the Han River with its flat shape, there seems to be no regrets."

The redevelopment project in Apgujeong Region 6 has not gained momentum, resulting in lower interest compared to Regions 2 to 5. However, there are analyses suggesting that its location is considered a 'hidden gem.' It is located behind the luxury goods section of Galleria Department Store and is an ultra-prime area adjacent to Apgujeong Rodeo Station (on the Suin-Bundang Line). Being in proximity to Cheongdam Elementary School, Cheongdam Middle School, and Cheongdam High School, the educational environment is also relatively good. Considering that other sectors, except for Apgujeong Region 3, are far from elementary schools, this is a significant advantage.

A Seoul city official noted, "It is necessary to confirm whether Hanyang 7th's contractor was selected 24 years ago, including checking the related laws regarding the redevelopment project," and added, "The interests are likely to get quite complicated."