Samsung C&T was selected as the contractor for the integrated reconstruction and maintenance project of Shinbanpo 19th and 25th in Seocho-gu, Seoul.
According to the industry on the 30th, the Shinbanpo 19th and 25th reconstruction association held a general meeting at the Seoul National University of Education Comprehensive Culture Center that day and finally selected Samsung C&T as the contractor.
Of 438 association members, 399 cast ballots, with Samsung C&T receiving 239 votes for a 59.9% share. POSCO E&C won 158 votes (39.6%).
The Shinbanpo 19th and 25th reconstruction project integrates Shinbanpo 19th and 25th, Hanshin Jinil, and Jamwon CJ around 61-1 Jamwon-dong into a single complex, to be rebuilt into a development with 4 basement levels and 49 above-ground floors across seven buildings and 613 households. The total project cost presented by the association is 630 billion won.
Samsung C&T proposed "Raemian Illucera" as the complex name and highlighted a design specialized for Han River views. It designed the project so that all 446 association-member households, as well as some general-sale units, can view the Han River, and also offered financial terms to procure the entire project cost—including essential expenses such as association operating expenses and other mandatory costs, plus additional relocation funds and rental deposit return costs as project acceleration expenses—at the lowest rate with no cap.
POSCO E&C proposed "The Banpo HAUTERRE," applying its high-end brand "HAUTERRE," as the complex name. Likewise, it emphasized a design enabling every association-member household to view the Han River and enjoy both the river and the complex landscaping via a sky bridge about 250 meters long.
POSCO E&C also sent a letter in the name of President Song Chi-young on the 28th, two days before the general meeting, expressing its commitment to strictly uphold the business terms proposed in its bid.