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GS E&C wins contract to rebuild Hangang Mansion

Posted January. 24, 2022 07:59,   

Updated January. 24, 2022 07:59


GS E&C has won the construction contract to rebuild Hangang Mansion, known as one of the leading apartment complexes near the Han River for reconstruction, in Yongsan, Seoul. There is a chance that the apartment might be rebuilt into a high-rise building of 68 floors, given that the municipal government’s restriction to cap height of apartment stories at 35 has been removed.

According to industry sources on Sunday, the Reconstruction Association for Hangang Mansion passed the agenda at its regular meeting to designate GS E&C as the construction company for its reconstruction project. Hangang Mansion was the first luxury apartment building constructed by the former Korea Housing Corporation (currently Korea Land and Housing Corporation), with 660 units in 24 low-storied buildings. According to plans, the reconstruction will take place in 2024 to build 1441 units in 15 buildings (from G3 to 35th floor).

However, there is a chance that the stories may be adjusted to 68 floors. The construction company has presented an extra plan in addition to the one approved by the Seoul Metropolitan Government, in anticipation of eased regulations on building height limits.

The Seoul Metropolitan Government has managed its skylines under the 2030 Seoul Plan founded by former governor Park Won-soon, which limits building heights at 35 floors for general residential buildings and 15 stories near the Hangang waterside. Aside from Raemian Ichon Caelitus (56th stories) and Seoul Forest Trimage (47 stories), both approved during Mayor Oh Se-hoon’s term, there have been no high-rise apartment complexes.

Mayor Oh, who won the Seoul mayoral by-election in April last year, campaigned to remove the 35th story limit, but the 2040 Seoul Plan has not been unveiled yet. The construction industry predicts that a new height limit plan will be released beyond June next year after the Seoul mayoral election.

Chang-Kyu Park kyu@donga.com