Hyundai E&C wins $1.95bn Seoul residential redevelopment

Seoul, South Korea - Hyundai Engineering & Construction has been selected to deliver the $1.95 billion (KRW2.6136 trillion) redevelopment of Mokdong Complex 10 in Seoul’s Yangcheon district, marking the contractor’s first redevelopment win within Mokdong New Town.

The appointment was confirmed at a project meeting held on 18 October, with Hyundai E&C announcing its selection the following day.

The scheme will transform the existing 2,160-unit residential estate at 311 Sinjeong-dong into a substantially larger development comprising 4,248 homes, along with ancillary and community facilities.

Buildings within the new complex will rise to a maximum of 40 storeys, almost doubling the number of homes currently provided on the site. Korea Land Trust is serving as the project implementer.

Hyundai E&C plans to introduce its premium residential brand THE H to Mokdong for the first time through the project. The company has proposed the name THE H Mokdong Eser for the development, with “Eser” referencing the number 10.

The design concept, called “All Life Campus,” is intended to integrate educational and community spaces into residents’ everyday environment.

Architectural design work involves Morphosis, while Sasaki is contributing to the landscaping and community-space strategy.

The Mokdong contract lifts Hyundai E&C’s urban renewal orders for 2026 to approximately $9.58 billion (KRW12.73 trillion), moving the company beyond its annual target of about $9.03 billion (KRW12 trillion).

Hyundai E&C described the Mokdong Complex 10 award as an important entry into the wider Mokdong New Town redevelopment market, which comprises 14 residential complexes originally developed during the 1980s.

The company said it intends to combine its residential construction expertise, THE H brand and international design capabilities in delivering the new community.