Yeouido Sibeom Apartments to get the ‘Raemian’ name as Samsung C&T wins redevelopment contract worth around 2.2 trillion won

[Financial News] Samsung C&T’s Construction Division has secured the contract to redevelop Sibeom Apartments, a landmark of apartment redevelopment in Seoul’s Yeouido district, bringing plans to build a new landmark in the area into full swing.
Samsung C&T said on the 19th that Korea Asset Trust, the project implementer for the redevelopment of Yeouido Sibeom Apartments, approved a motion to select Samsung C&T as the final contractor at a general meeting of landowners and other property owners held on the 16th.
Located in Yeouido-dong, Yeongdeungpo-gu, Seoul, Sibeom Apartments will be redeveloped into a complex with six basement levels and up to 59 above-ground floors, comprising 18 buildings, 2,480 homes and ancillary facilities. The total construction cost is approximately 2.2685 trillion won. Completed in 1971, Yeouido Sibeom Apartments is considered a forerunner of high-rise apartment buildings in South Korea, having introduced then-innovative residential features such as elevators and central heating.
Samsung C&T proposed the name Raemian SonelY for the new complex, combining “Standard,” meaning a benchmark, and “One & Only,” meaning unique. In particular, it plans to collaborate with world-renowned architecture firm OMA to present a distinctive exterior design and skyline. OMA founder Rem Koolhaas is widely known as a Pritzker Prize laureate.
To maximize the value of the complex’s location along the Han River, the number of buildings will be reduced from 21 to 18, while the number of homes with Han River views will be significantly increased from 1,616 to 2,032. The complex has been designed to give all landowners and other property owners a view of the river. Plans also include a large central plaza approximately 90 meters wide and a connected “Center Park,” as well as Yeouido’s largest community facilities and a skybridge on the 41st floor, to maximize residents’ convenience.
The complex will also incorporate Samsung C&T’s “Next Home,” its future-oriented housing model, with movable furniture, flexible walls, dry floors and modular bathrooms, allowing interior spaces to be freely reconfigured as family composition and lifestyles change.
“Yeouido Sibeom Apartments is an iconic complex that marked the beginning of apartment living culture in South Korea,” said Lim Cheol-jin, head of Samsung C&T’s Housing Sales Division. “We will bring together all of Samsung C&T’s capabilities to make it a new benchmark for future housing and a residential masterpiece representing Yeouido.”

[email protected] Jeon Min-gyeong Reporter