South Korea-based Hyundai Engineering and Construction (Hyundai E&C) has been confirmed as the contractor for the redevelopment of Mokdong Complex 10 in Yangcheon-gu, Seoul, a project with a construction cost of Won2.6tn ($1.95bn).
The decision was finalised at a general meeting held on 18 October, following which the company announced its successful selection the next day. This marks the firm’s first redevelopment project in Mokdong New Town.
Of the 1,624 people who participated in the contractor selection process, 95.9% voted in favour of appointing Hyundai E&C.
The bidding process saw six firms attend an initial site briefing, including POSCO E&C and Daewoo Engineering & Construction, but only Hyundai E&C submitted a bid.
After two unsuccessful rounds, Hyundai E&C secured preferred negotiator status and was selected at the plenary meeting.
The redevelopment will see the current 2,160-unit apartment complex at 311 Sinjeong-dong replaced with new residential buildings of up to 40 storeys, comprising a total of 4,248 units and additional welfare facilities.
Korea Land Trust has been appointed as the project implementer. The number of households at the site is set to nearly double upon completion.
The project will introduce “THE H”, Hyundai E&C’s high-end residential brand, to Mokdong for the first time.
The proposed name for the new development is “THE H Mokdong Eser”, with “Eser” representing the number ten in Hebrew, reflecting both the complex’s numeric designation and Mokdong’s identity as an area focused on education.
The company states that the concept, described as “All Life Campus”, places emphasis on integrating educational spaces throughout daily life for residents of all ages.
Architectural firm Morphosis will oversee architectural design, while Sasaki, known for its work on global university campuses, will handle landscaping and community spaces.
With this contract, Hyundai E&C’s cumulative urban renewal orders for the year have reached Won12.73tn, surpassing its annual target of Won12tn.
Other significant projects secured by the company include the redevelopment of Apgujeong District 3, awarded in May 2026 for Won5.561tn.
In September 2025, Hyundai E&C was awarded a Won4.39tn ($3.16bn) contract to build a seawater treatment facility in Iraq.
