3 below-ground, up to 40 above-ground floors; 13 buildings; 2,344 units

A rendering of the Jangam Zone 2 redevelopment project in Uijeongbu, Gyeonggi Province. [IPARK Hyundai Development]
A rendering of the Jangam Zone 2 redevelopment project in Uijeongbu, Gyeonggi Province. [IPARK Hyundai Development]

IPARK Hyundai Development has won the contract for the Jangam Zone 2 redevelopment project in Uijeongbu, Gyeonggi Province, valued at 900.2 billion won ($654 million).

The company was selected as the contractor Saturday after receiving 451 votes — 84 percent of the 538 union members present — at a contractor selection meeting held at the Island Castle Hotel in Uijeongbu.

The Jangam Zone 2 redevelopment project will be built on a site of about 96,937 square meters in the Singok-dong 602-13 area of Uijeongbu. The development will comprise 13 buildings rising up to 40 stories above ground with three below-ground levels, featuring 2,344 apartment units with exclusive use areas ranging from 39 to 140 square meters, along with ancillary welfare facilities. The total floor area will reach 414,468 square meters, and the construction cost is 900.2 billion won.

IPARK Hyundai Development proposed a large sky bridge, a signature entrance gate, specialized landscaping and AI-powered residential solutions for the project. Plans also include a sky community offering views of Suraksan and the Jungnang Stream, a four-lane swimming pool, one elevator per unit and an in-unit food waste transfer system.

The project site is near Balgok Station on the Uijeongbu Light Rail Transit line, and residents will also have access to Uijeongbu Station, which is slated to be served by the GTX-C line. Nearby schools include Gyeongui, Cheongnyong, Uijeongbu and Sindong elementary schools, as well as Balgok and Singok middle schools and Balgok High School. The Jungnang Stream, Balgok Neighborhood Park and Chudong Neighborhood Park are also close by, as are major commercial areas including the Uijeongbu Shinsegae department store and Rodeo Street.

"We will repay the trust of union members by making this a landmark of Uijeongbu," an IPARK Hyundai Development official said. "We will continue to strengthen our competitiveness in urban renewal projects by selectively pursuing contracts where we can demonstrate our strengths."

The Jangam Zone 2 win follows the company's contract for the Seongnam Taepyeong Zone 3 public-participation redevelopment project, worth 585.2 billion won, secured in July. IPARK Hyundai Development has now recorded 1.49 trillion won in urban renewal contracts this year.

The company plans to pursue further contracts, with upcoming targets including the reconstruction of Gwangmyeong Haan Jugong complexes 6 and 7, the reconstruction of Mokdong Complex 11, the redevelopment of Goyang Neunggok Zone 3, the redevelopment of Banghwa Zone 2, and a long-term jeonse housing urban renewal project near Sookmyung Women's University Station, as well as projects in key Seoul districts including Nowon and Yongsan.


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