en.Wedoany.com Reported - In the bidding for the construction contractor of the Seongsu Strategic Renewal District 4 (Seongsu District 4) reconstruction project in Seoul, Lotte Engineering & Construction fully pre-paid a bid bond of 50 billion won in cash on the 21st, with the payment deadline being the 22nd.

Lotte E&C stated, "We will prioritize the interests of the association members and propose project conditions tailored specifically for Seongsu District 4," adding, "With our super high-rise construction technology capabilities, we will collaborate with global partner companies to transform Seongsu District 4 into a landmark complex representing Korea in all aspects, including design and branding."

The Seongsu District 4 reconstruction project is located in the area of Seongsu-dong 2-ga 1-dong, with a land area of approximately 89,828 square meters. It is planned to construct a residential complex with 1,439 units, ranging from 6 underground floors to 64 floors above ground, along with ancillary welfare facilities. The total construction cost is 1.3628 trillion won.

Participants in this bidding include Daewoo E&C and Lotte E&C. Daewoo E&C is also expected to complete the bond payment by the 22nd. The bidding deadline is the 26th of this month.

The contractor bidding for this project was originally scheduled to close on February 9th, but the association subsequently declared the bid invalid, citing incomplete documents submitted by Daewoo E&C, and then announced a re-bid before canceling it. The association pointed out irregularities in Daewoo E&C's previous promotional activities, intensifying the conflict between the two sides. Eventually, Daewoo E&C apologized to the association, easing the conflict. However, the supervising Seoul Metropolitan Government pointed out promotional violations by both Daewoo E&C and Lotte E&C, as well as procedural irregularities by the association in the bid invalidation decision and re-bid announcement process. It subsequently confirmed the bid invalidation, allowing the re-bidding process to proceed.

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