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Ssangyong selected as preferential bidder for remodeling of Woosung APT in Yeomchang-dong

2008-09-02

The Woosung Apartment in Yeomchang-dong, Seoul selected the Company as the preferential bidder for its plan for the remodeling work at a residents’ meeting held recently. Built in 1993, the two apartment buildings are comprised of 196 households. Each household, sized 117 ㎡ will be expanded to 144 ㎡ through the remodeling work.

The parking lot will be changed into a poolside garden, a cherry-garden, a walk, a wall fountain, etc to enhance amenity and maximize the use of available spaces. The first floors will be used as “piloty.” A lobby lounge and storage spaces for individual households will be newly made on the first floor. Elevator and stair spaces will be enlarged.

11 types of designs will be adopted for expansion of all sides to overcome the existing structural restrictions, with some of the sidewalls made round, making it a space for a master bedroom and bathroom. Individual households’ outside views will be maximized and their outside appearance will be differentiated from each other.

Parking spaces will be expanded from 131 to 239 through maximization of available spaces. Each household will be connected with the basement parking lot through an elevator. Part of the basement spaces will be assigned for individual households’ storage spaces.

The apartment residents plan to launch the cooperative for the remodeling work and finish the relevant procedure, including approvals and moving out, by the second half of 2009. The work is scheduled for completion by 2011. The entire process is expected to proceed promptly, as 70% of the existing residents have consented to the plan.