292 units, construction cost of 121.3 billion won (about $80.3 million)

Project sits within Mapo-gu's residential belt near Sinchon and Hongdae

A rendering of the street housing redevelopment project at Changjeondong 46-1, Mapo-gu, Seoul [Ssangyong E&C]
A rendering of the street housing redevelopment project at Changjeondong 46-1, Mapo-gu, Seoul [Ssangyong E&C]

Ssangyong E&C announced Tuesday it was selected as contractor by an overwhelming margin at the general assembly of the Changjeondong 46-1 street housing redevelopment project in Mapo-gu, Seoul, held Sunday.

The project will develop a 292-unit apartment complex called "The Platinum" across six buildings ranging from five below-ground floors to 20 above-ground floors, along with ancillary facilities, at a construction cost of approximately 121.3 billion won. The total floor area is 49,188 square meters, and the construction period is about 44 months from ground-breaking.

The site has been designated a target area under the Seoul Metropolitan Government's Moa Town initiative, which is driving systematic redevelopment in the district. It sits adjacent to the Sinchon and Hongdae lifestyle zones and offers strong public transit access — including Sinchon and Gwangheungchang stations on subway Line 2 and Daeheung Station on Line 6 — making major business districts such as Yeouido, Gwanghwamun and Yongsan easily reachable.

The Changjeondong area is drawing growing expectations for rising property values as Moa Town development and other initiatives targeting aging residential neighborhoods gain momentum, with improvements to housing, transport and everyday infrastructure all expected to follow.

Meanwhile, Ssangyong E&C has been steadily expanding its contract wins at major urban redevelopment sites in Seoul and the Greater Seoul area, including the Hongeun-dong street housing redevelopment project, the Siheung 5-dong Moa Town project, the Cheonho-dong street housing redevelopment project and the Noryangjin Eunha Mansion street housing redevelopment project.

The company plans to continue pursuing competitive contracts in the urban redevelopment sector, drawing on its accumulated technology and project experience in civil engineering and construction at home and abroad, while also strengthening its push into global markets with differentiated product quality and construction capabilities.


hss@heraldcorp.com