IPARK Hyundai Development Wins Busan Yeonsan District 13 Redevelopment Contract Worth 281.2 Billion Won

[Financial News] IPARK Hyundai Development, part of HDC Group, has secured the construction contract for the Busan Yeonsan District 13 Housing Redevelopment and Maintenance Project. This is its third redevelopment and maintenance project win following Seongnam Taepyeong District 3 and Uijeongbu Jangan District 2 in the second half of this year.
According to IPARK Hyundai Development on the 6th, the company won 208 of 249 votes at a general meeting held on the 3rd to select the contractor and was ultimately selected for the project. Its share of the vote was approximately 84%.
The project will develop a residential complex extending from three basement levels to up to 34 stories above ground, along with ancillary welfare facilities and neighborhood living facilities, in Yeonsan-dong, Yeonje District, Busan. The contract value is approximately 281.2 billion won.
The site is within walking distance of City Hall Station on Busan Metro Line 1 and Mulmangol Station on Line 3, making it a dual-station area. It also offers excellent transportation access, with major roads such as Jungang-daero, World Cup-daero, and Yeonsu-ro nearby.
Busan City Hall, the Yeonje District Office, and the Busan Metropolitan Police Agency are located nearby, along with schools such as Yeonsan Elementary School, Yeonje Middle School, and Yeonje High School, as well as convenience facilities including Emart.
IPARK Hyundai Development plans to build a sky community reaching up to 34 stories and a central plaza spanning approximately 5,001 square meters in Yeonsan District 13.
Compared with the existing association plan, the number of residential buildings will be reduced by two. Instead, the central plaza will be expanded to include six themed gardens and a looped walking trail. The complex's exterior will feature a 'Roofline Link Facade' connecting the upper structures and side walls, along with a 'Continuous Scape' extending to the ground-level deck.
The highest 34th floor will feature a sky community offering views of Hwangnyeongsan Mountain, Baesan, and downtown Busan. All units will face south, and a specialized four-bay slab-type design will be applied.
The project will also include premium community facilities totaling approximately 5,950 square meters, parking for about 1.5 vehicles per household, and an in-unit food-waste transport system.
An IPARK Hyundai Development official said, "We sincerely thank the members of the Yeonsan District 13 association for choosing us based on their trust in IPARK's differentiated design and sincere project proposal. We will pursue a linked contract win for the adjacent Yeonsan District 16 to secure the premium associated with a large complex of more than 1,200 households, and complete Yeonsan District 13 as a landmark representing Yeonje District by adding our expertise and product quality."
IPARK Hyundai Development has continued to win redevelopment and maintenance projects in the second half of this year. In July, it won the public-participation redevelopment project for Seongnam Taepyeong District 3, worth 585.2 billion won, and in August, it secured the construction contract for the Uijeongbu Jangan District 2 redevelopment project, worth 900.2 billion won.
Including Yeonsan District 13, the company's cumulative wins in redevelopment and maintenance projects this year total 1.7666 trillion won.

[email protected] Choi A-young Reporter