Samsung C&T Corporation Makes Bold Move with 'First Raemian' at Mok-dong Complex 13... Hires US Design Partner smdp

[Financial News] Samsung C&T Corporation is set to target the Mok-dong reconstruction market, using the 2.3763 trillion won Mok-dong Complex 13 project as a springboard. The company plans to enhance its competitiveness in securing orders by recruiting the U.S. architectural firm smdp as a design partner. The strategy is to build a 'Raemian Town' by pursuing additional orders in the Mok-dong area after securing the initial construction rights.
According to Samsung C&T Corporation's Construction Division on the 3rd, it is collaborating with smdp to differentiate the design of the reconstruction project for Mok-dong Complex 13 in Yangcheon District, Seoul.
Mok-dong Complex 13 is a reconstruction project to build a complex of 3,852 units with four underground floors and 49 above-ground floors on a 178,919-square-meter site in the area of 327 Sinjeong-dong, Yangcheon District. This is an increase of 1,572 units from the existing 2,280 units. The estimated construction cost is approximately 2.3763 trillion won.
Samsung C&T Corporation plans to actively incorporate the surrounding natural environment, such as Anyang stream and Maebongsan Mountain, into the complex's design. The company envisions creating a distinctive urban profile in the Mok-dong area by leveraging the south-facing location and applying the maximum height of 156 meters and 49 stories stipulated in the redevelopment plan. The design incorporates not only natural lighting and views but also privacy protection between units and structural safety.
smdp, headquartered in Chicago, USA, is participating in the design work. The firm, which primarily designs urban mixed-use developments and luxury residential facilities, was responsible for the design of Raemian One Bailey, Nine One Hannam, and Acro Seoul Forest in Korea.
Samsung C&T Corporation and smdp are also collaborating on the design for the Shinbanpo 4th Reconstruction Project. They previously collaborated on the Sinbanpo 19·25 Redevelopment Project, with Samsung C&T Corporation securing the construction rights for both projects. Based on this collaborative experience, the company plans to propose a specialized exterior design and high-end community facilities for Mok-dong Complex 13.
The bidding war for Mok-dong Complex 13 has entered its final phase. According to the Seoul Metropolitan Government's Urban Renewal Information Center, the deadline for construction bids is 2:00 p.m. on the 7th. The bid deposit is 90 billion won, of which 60 billion won must be paid in cash and the remaining 30 billion won in the form of a performance guarantee insurance certificate.
Five companies, including Samsung C&T Corporation, Daewoo Engineering & Construction Co., Ltd., DL E&C Co., Ltd., IPARK Hyundai Industrial Development, and Cheil Construction, attended the site briefing held on June 29.
Competition among major construction companies to win reconstruction contracts is also intensifying in the Mok-dong area. Mok-dong New Town Complexes 1 through 14 comprise approximately 26,000 households, and this number is expected to increase to about 50,000 households upon completion of the reconstruction. The total construction cost is estimated at approximately 30 trillion won.
For Samsung C&T Corporation, securing Complex 13 will mark its first Raemian project in the Mok-dong reconstruction market. The goal is to create a Raemian brand cluster similar to Banpo by winning additional reconstruction projects in the area, starting with Mok-dong Complex 13.
Lim Cheol-jin, Head of the Housing Sales Division at Samsung C&T Corporation, stated, "Mok-dong Complex 13 is a strategic stronghold with high symbolic significance and ripple effects for the entire Mok-dong reconstruction project," adding, "We will mobilize our entire corporate capabilities to develop it into a landmark representing the entire Mok-dong area."


[email protected] Jeon Min-kyung Reporter