Hanwha Engineering & Construction (E&C) has been chosen as the preferred bidder to build a new sports and convention industry complex on some 350,000 square meters site near Jamsil Sports Complex in Seoul.
The Seoul Metropolitan Government said on Friday that it picked Hanwha E&C as the preferred bidder for a project building a sports MICE complex in Jamsil, Seoul. The Korea International Trade Association (KITA) consortium, which competed with Hanwha E&C to win the bid, became the next preferred bidder.
The Seoul Metropolitan Government plans to form a negotiating team as soon as possible and start negotiations with the preferred bidder from January next year at the earliest. The project aims to begin construction in the second half of 2023 after concluding an agreement in the first half of 2023. The project is estimated to cost around 2.16 trillion won and the construction period is expected to be about six years.
The project has been in the works since 2016 with an aim to build a multi-purpose facility encompassing exhibition, convention, sports and culture as well as hotels and commercial and business facilities. The preferred bidder has been selected after a comprehensive evaluation, including development plan, design/construction plan, operation plan, and public interest by the evaluation committee supervised by the Seoul Public Investment Management Service under the Seoul Institute from Tuesday to Thursday.
When the complex is built in Jamsil as scheduled, it is expected to help the city increase its competitiveness as a global city by vitalizing global exchange businesses as well as exhibiting new industries, such as smart mobility, K-beauty, and healthcare.
Seng-Hyun Kang email@example.com