On the 1st, the Seoul Housing and Urban Development Corporation (SH) announced that it signed a joint business implementation agreement with Samsung C&T, which was selected as the construction company for the Jangwi 8 district public redevelopment on the 31st of last month.
Jangwi 8 district was selected as a candidate site for the public redevelopment project in March 2021, following the government's "Strengthening Housing Supply Base in the Capital Region" plan. Since then, SH has proceeded with key procedures such as designating the maintenance promotion area in 2023 and appointing the project implementer in 2024.
This agreement is based on the recommendation of Samsung C&T as the joint project implementer and constructor by the Jangwi 8 residents' representative council during the residents' general meeting held in April this year.
SH and Samsung C&T plan to clarify their roles and methods for promoting the project based on the agreement and establish a cooperation system to actively advance the project.
The two organizations intend to utilize their capabilities and expertise to contribute to the successful advancement of the Jangwi 8 district project, boost housing supply, and support regional development.
SH President Hwang Sang-ha said, "I expect that through this agreement, the two organizations can combine their strengths to create synergy effects," and added, "We will do our best to ensure that the Jangwi 8 district public redevelopment project becomes a model case for regional development."