Samsung C&T was selected as the Sigongsa for Apgujeong District 4, a reconstruction zone in Gangnam District, Seoul. It is a massive reconstruction project with construction costs exceeding 2.1 trillion won.
According to the construction industry on the 23rd, the Apgujeong District 4 reconstruction association passed an agenda item to finalize Samsung C&T as the Sigongsa at the association's general meeting held that afternoon at the Apgujeong High School gymnasium.
Samsung C&T submitted a solo bid for this project and was confirmed as the Sigongsa with 626 votes out of 716 cast by 1,337 association members, winning 87.4% of the vote.
The Apgujeong District 4 reconstruction is a project to integrate and rebuild Hyundai Phase 8 and Hanyang Phases 3, 4 and 6 in the vicinity of 487 Apgujeong-dong, Gangnam District. The planned construction cost is about 2.1154 trillion won. The complex name will be finalized later through a general meeting.
Samsung C&T established a collaboration framework with a total of 18 financial institutions, including major commercial banks such as Shinhan Bank and KB Kookmin Bank and securities firms, to secure stable project financing. Through this, it plans to reduce the association's financial burden and support stable and swift execution across the project.