The Gangpo Woosung 7th Reconstruction Association in Gangnam, Seoul, has finalized Samsung C&T as the construction company. A total of 746 out of 800 association members participated in the vote, with 403 members (54%) voting for Samsung C&T and 335 members voting for Daewoo E&C. Six votes were invalid.
According to the maintenance industry on the 23rd, the Gangpo Woosung 7th Reconstruction Association decided on Samsung C&T as the construction company at a general meeting held at the Seoul Housing and Communities Corporation (SH) in Gaepo-dong, Gangnam.
The Gangpo Woosung 7th Reconstruction is a maintenance project transforming an apartment complex of 802 units, completed in 1987, into a basement of 5 floors and 35 floors above ground, comprising 1,122 units and additional welfare facilities. The total construction cost is estimated by the association to be 677.8 billion won.
Samsung C&T and Daewoo E&C participated in the bid to select a construction company on June 19th. Although the project scale is not large, both companies set the goal of securing this project as a stepping stone to gain contracts in the nearby Gangnam areas of Daechi, Dogok, and Apgujeong.
Samsung C&T and Daewoo E&C have competed for the urban renewal project in Gangnam, Seoul, for the first time in five years since the Banpo 3 district (Raemian Trinitwon) in 2020. At that time, Samsung C&T received 687 votes (a 52% share) out of 1,316 participating members, defeating Daewoo E&C by a margin of 70 votes to win the construction rights.