en.Wedoany.com Reported - Lotte E&C has defeated Daewoo E&C to secure the construction rights for the Seongsu Strategic Redevelopment Zone District 4 project in Seongdong-gu, Seoul, with a total construction cost of KRW 1.3628 trillion. Out of 753 total union members, 620 participated in the vote, with Lotte E&C ultimately selected as the contractor with 449 votes (a 72.4% approval rate), while Daewoo E&C received 169 votes (27.2%).
The project is located in the Seongsu-dong 2-ga 1-dong area, covering a site area of approximately 89,828 square meters. Plans include constructing a complex with 6 basement levels and 64 above-ground floors, totaling 1,439 units of multi-family housing and ancillary welfare facilities. The total construction cost is KRW 1.3628 trillion, making it a large-scale project among redevelopment initiatives along the Han River.
The bidding process drew significant industry attention due to the competition between South Korea's two major construction companies. Lotte E&C proposed the complex name "Seongsu Le-el S70," applying its high-end brand "Le-el," and emphasized its super-tall building expertise, leveraging experience from the Lotte World Tower. The company also highlighted specialized designs to maximize Han River views, premium community facilities, and financial support plans to garner support. Lotte E&C stated it would collaborate with global structural design firm "LERA," which has participated in international super-tall projects such as the New York World Trade Center, Dubai's Emirates Tower, and Merdeka 118.
Conflicts over the contractor selection process and project conditions persisted throughout the bidding. In February, the union announced a re-bidding process after citing incomplete bid documents from Daewoo E&C, only to cancel it later. Seongdong-gu also communicated to the union that there were procedural issues with the process. Subsequently, the two companies engaged in a back-and-forth over design, project conditions, and promotional content. Ahead of the general meeting, a nerve-wracking standoff continued until the final stages over whether Lotte E&C's proposed minimum relocation cost of KRW 2 billion violated bidding guidelines.
With this win, Lotte E&C's cumulative winning bid amount for urban redevelopment projects this year has increased to KRW 2.8677 trillion. The Seongsu Strategic Redevelopment Zone is divided into four districts for redevelopment. Following District 1, where GS Construction was selected as the contractor, the contractor selection for District 4 has been completed. Competition for project advancement and contractor selection in the remaining Districts 2 and 3 is expected to draw further attention.
