Total construction cost 92.7 billion won; completion set for 2034

A rendering of Artera Lumiere (tentative name). [Kumho Engineering & Construction]
A rendering of Artera Lumiere (tentative name). [Kumho Engineering & Construction]

Kumho Engineering & Construction has been selected as the contractor for the Pajang Zone 1 housing reconstruction project in Suwon, Gyeonggi Province, in a deal worth about 92.7 billion won ($68.9 million).

The company announced Monday that it had been chosen to carry out the Pajang Zone 1 housing reconstruction project in Jangan-gu, Suwon.

The project calls for a residential complex of four buildings rising up to 28 above-ground floors over two basement levels, with a total of 258 units. The total construction cost stands at about 92.7 billion won. Groundbreaking is scheduled for February 2031, with completion targeted for February 2034.

The new complex will carry Kumho Engineering & Construction's residential brand Artera, marking the brand's first entry into Suwon. The complex is tentatively named Artera Lumiere.

The site sits near the Pajang interchange on the Suwon Northern Beltway and the Buk-Suwon interchange on the Yeongdong Expressway. A Buk-Suwon station on the Indukwon–Dongtan double-track railway line, set to open in 2029, is also planned near the complex.

The complex is close to Pajang Elementary School and Dasol Elementary School, with Pajang Children's Park and Jeongja Culture Park within walking distance. The planned Buk-Suwon Techno Valley, a high-tech industrial complex, is also nearby.

The win extends Kumho Engineering & Construction's recent run of reconstruction contracts. Last year the company secured the Dongsam Park Villa small-scale reconstruction project in Hang-dong, Guro-gu, Seoul, and in March signed a preliminary contract for the Gaeum Zone 3 reconstruction project in Changwon, South Gyeongsang Province.

"This project marks Artera's first foray into Suwon," a company official said. "We will draw on our expertise in reconstruction projects and Artera's signature design to create a differentiated landmark complex."

Meanwhile, Kumho Engineering & Construction has been drawing market attention amid growing expectations surrounding the government's plan to fast-track groundbreaking on a semiconductor cluster in the Honam region. Although the company's headquarters is in Seoul, its main office is in Naju, South Jeolla Province, making it one of the most prominent construction firms rooted in the Honam region. Its share price has surged sharply of late.


quq@heraldcorp.com