Business · Companies · 1 hr ago
Hyundai Construction set to lead long-delayed Yongsan redevelopment
A redevelopment project in Seoul’s Hangang-ro district has been stalled for more than a decade.
The project’s association has held two contractor-selection bids, and Hyundai Construction was the sole bidder both times.
The association is now starting a process to choose a contractor through a private contract.
It plans to put Hyundai’s selection to a vote on October 31.
The project has been delayed for 13 years, so choosing a contractor could help it move forward.
Hyundai is considered the likely choice, but the association’s vote is still to come.
Hyundai Engineering & Construction has emerged as the likely contractor for the long-delayed redevelopment of Seoul’s Hangang-ro district in Yongsan.
The redevelopment project has been stalled for more than 10 years.
Hyundai was the sole bidder in two contractor-selection tenders.
The district’s redevelopment association has begun a negotiated-contract process.
The association plans to vote on selecting Hyundai at a meeting on October 31.
- Who
- Hyundai Engineering & Construction is the likely contractor. The Hangang-ro district redevelopment association will decide whether to select it.
- What
- The association plans to select Hyundai as the redevelopment contractor through a negotiated contract.
- When
- The association plans to hold a selection meeting on October 31, 2026.
- Where
- Hangang-ro district, Yongsan-gu, Seoul, South Korea.
- Why
- The association began a negotiated-contract process after Hyundai was the sole bidder in two tenders.
This story does not have two clearly opposing sides.
Hyundai Engineering & Construction was the sole participant in both contractor-selection tenders.
The redevelopment industry reported that the association had entered a negotiated-contract process with Hyundai.
The association plans to hold a meeting and vote on selecting Hyundai as contractor.
- District
- Hangang-ro, Yongsan-gu, Seoul
- Project delay
- 13 years, according to the headline
- Tender participation
- Hyundai was the sole bidder in two tenders
- Planned decision
- Association vote on October 31, 2026