MOUs signed with five major commercial banks and five leading brokerages

Chae Jun-hwan, DL E&C's head of urban redevelopment under the housing business division (left), poses with Lee Won-jong, deputy head of KB Kookmin Bank's CIB sales group, after signing a premium financial MOU for the Seongsu Zone 2 project at the Acro Lounge in D Tower Seoul Forest, Seongdong-gu, Seoul, on Tuesday. [DL E&C]
Chae Jun-hwan, DL E&C's head of urban redevelopment under the housing business division (left), poses with Lee Won-jong, deputy head of KB Kookmin Bank's CIB sales group, after signing a premium financial MOU for the Seongsu Zone 2 project at the Acro Lounge in D Tower Seoul Forest, Seongdong-gu, Seoul, on Tuesday. [DL E&C]

DL E&C has partnered with major domestic financial institutions to support the Seongsu Strategic Redevelopment Zone 2 housing redevelopment project and provide financial services to union members.

The company announced Wednesday that it signed a "premium financial MOU for Seongsu Zone 2" on Tuesday with 10 institutions — five major commercial banks (KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH NongHyup Bank) and five leading brokerages (KB Securities, NH Investment & Securities, Samsung Securities, Korea Investment & Securities and Kiwoom Securities). DL E&C said it plans to roll out tailored financial service programs drawing on the expertise and networks of these top-tier institutions to meet union members' varied financial needs.

Through the partnerships, union members will gain access to high-quality financial services backed by the specialist staff and networks of the participating institutions. "Seongsu Zone 2 is more than a simple redevelopment project — it is a landmark development that will shape the future of residential culture in Seoul," a DL E&C official said. "We will concentrate all our capabilities on ensuring the project's success, including delivering differentiated financial services and premium lifestyle value to union members."

The Seongsu Zone 2 redevelopment project, valued at 2.01 trillion won ($1.48 billion), will develop a 131,980-square-meter site in Seongsu 2-ga 1-dong, Seongdong-gu, Seoul, into apartment complexes and supporting community facilities. DL E&C was named the preferred negotiating partner for the project on Sept. 23.

Meanwhile, DL E&C posted strong earnings in the first half of this year. The company recorded consolidated sales of 3.53 trillion won and operating profit of 316.8 billion won for the first half, with operating profit rising 53 percent from the same period a year earlier.


hope@heraldcorp.com