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Remodeling as Good as Redevelopment

2010-07-19

The first ‘vertical extension added with earthquake-proof reinforcement’ remodeling complex completed in Korea!
This is Korea’s first vertical extension remodeling for the ground and underground, applied with the damper system earthquake-proof design.
The newly constructed underground parking lot can accommodate 285 vehicles and the parking lot on the ground has been turned into a green belt.
Ssangyong E&C had taken charge of the Remodeling Project No. 1, 2 and 3 of the entire complex, creating a legacy in the history of remodeling.

‘The twelve-floor apartment without underground parking lot has been transformed into a thirteen-floor apartment with two-floor underground parking. It can also endure an earthquake with a magnitude of 7.0.’

This is the appearance of the newly created remodeling apartment.

After 24 months of remodeling, Ssangyong E&C (President & CEO Byung-Ho Kim) announced that 284 households will start moving into three buildings of Ssangyong Yega Classic (former Pyeonghwa Apartment) from July 16. The apartment complex is located in the address of No. 559, 3-ga, Dangsan-dong , Yeongdeungpo-gu.

The parking lot has two floors underground and30-year-old structure of this apartment, which was built in 1978, is retained. In addition, there is vertical extension of one floor and safety problem has been addressed by reinforcing the pillars and the walls with special iron plates. Additionally, a damper (vibration absorbing device) was built into the wall of apartments for the first time in Korea so that it can be reinforced with a framework that can endure an earthquake with a magnitude of 6.5 to 7.0.

It only took 24 months to complete the construction, which is about 6 months to a year earlier than estimated.

The area per household increased as follows: 72.6㎡ ▶ 93.5㎡ 92.1㎡ ▶ 115.3㎡ and 111.4㎡ ▶ 137.7㎡.
Considering the act on plottage calculation is revised, it was actually increased by about 20 - 33㎡. The construction cost per household came at about KRW 90 million to KRW 170 million.

The number of vehicles that can occupy the parking lot has increased fivefold from 58 to 285, and the parking lot on the ground has been transformed into a park area with Lawn Story Resting Area, Pagora Pine Tree Resting Area, Adventure Playground and an aquatic landscape space. Moreover, the first floor of every apartment building has been elevated through piloti so that residential amenities can be built such as the lobby lounge and locker rooms for households.

Tae-Man Kang (50), remodeling union president, said, “Besides taking pride in residing in a good apartment that represents the neighboring area, we obtained future profit as the market price of KRW 9.8 million rose to KRW 17 million for 3.3㎡. Especially, the residents expressed strong satisfaction over the underground parking lot, the first floor sustained on piloti and the community area for residents.”

Young-Kyu Yang, Senior Manager of Ssangyong E&C’s Remodeling Business Division, remarked “This project proposes an answer to vertical extension where there are concerns over safety issues. If the vertical extension of three to four floors can be permitted, then it will be possible to remodel target apartment that stands comparable to a newly-built apartment by turning a two-bay surface into a three-bay surface.”

Dr. Young-Seon Yun of the Construction Economy Research Institute of Korea stressed that “The renewal or remodeling projects in Western Europe is very vibrant, accounting for about 50% of the total construction market. In order to implement remodeling projects that satisfy the concept of low-carbon green growth such as minimization in construction wastes and recycling of landscaping, it is necessary for the government to provide more supports and corresponding measures.”

Meanwhile, Ssangyong E&C has successfully completed the first remodeling project of the whole complex in Korea in January 2007 for Ssangyong Yega Classic (former Goongjun Apartment) in Bangbae-dong followed by the second project in Ssangyong Yega Classic in Dangsan-dong. Currently, Ssangyong E&C is undertaking the third remodeling project for Dongshin Apartment in Dogok-dong.