Banpo Prugio, located in a prime spot right by Sinbanpo Station in Seocho District, Seoul, has begun selecting a contractor for remodeling work. Built in 2000, the complex formed a "Next Remodeling" partnership last year with Samsung C&T's construction division and is seen as highly likely to select Samsung C&T as the contractor. Next Remodeling is Samsung C&T's new business that upgrades residential performance to the level of a new apartment while maintaining the existing building structure. If Samsung C&T is selected as the contractor, Banpo Prugio is expected to be reborn as a new Raemian complex in as little as two years.
According to the remodeling industry on the 19th, Banpo Prugio recently posted a re-bid notice for contractor selection. After a site briefing on the 20th, competitive bidding is scheduled for June 5. It was confirmed that Samsung C&T was the sole attendee at the first site briefing held on the 12th. A Samsung C&T official said, "We attended the first briefing held last week alone," and added, "The likelihood of being selected as the contractor is high, but we cannot give a definitive answer."
Banpo Prugio is an apartment complex in a prime spot right by Sinbanpo Station, consisting of three buildings from two basement levels to 12 stories above ground, with 237 households. The apartment has not yet reached the 30-year threshold for reconstruction, and even when it does, reconstruction is effectively difficult due to its floor area ratio (283%). For this reason, the complex has been pursuing remodeling since 2019. The project gained momentum last year after forming a Next Remodeling partnership with Samsung C&T.
Next Remodeling is a next-generation urban regeneration solution for aging multifamily housing introduced in September last year. The project aims to create high-end residential spaces that enhance quality of life by completely renewing interior and exterior design while using the existing frame, and by implementing smart performance and services.
Next Remodeling targets apartments built since the 2000s. These complexes have not yet reached the reconstruction threshold but offer lower levels of residential services compared to new apartments. Across the country, the main targets—apartments completed 20 to 30 years ago—number 3.8 million households (about 30% of the total). When launching the solution, Samsung C&T signed partnerships with complexes including Banpo Prugio, Yeoksam Kumho Eoullim, Apgujeong Daewon Kantabil, Seocho Raemian, Seocho I'Park, and Seocho e-Pyeonhansesang phases 3 and 5.
If Banpo Prugio selects Samsung C&T as the remodeling contractor, it could become the first complex where the Next Remodeling solution is applied. As Samsung C&T has said it can shorten construction to within two years for Next Remodeling, assuming no variables such as construction costs, the apartment is expected to be quickly reborn as a new Raemian.
Samsung C&T explained that for Next Remodeling, because high-risk work such as frame demolition, extensions, underground excavation, and foundation reinforcement is not included, it can shorten permitting periods such as safety reviews and deliberations, and by utilizing the existing structure, there is no frame work, which takes up much of the construction period, thereby reducing high-risk operations and enabling completion within two years.
If Banpo Prugio speeds up its remodeling project, it could seek to raise its value within Banpo thanks to the advantages of being right by a station and newly built. The apartment is located near the "Banpo Raemian Town," including Raemian One Pentas and Raemian Prestige. On Naver Real Estate, the asking price for an 84-square-meter exclusive unit at Banpo Prugio is in the 3 billion won range.