쌍용건설

A total of 2,600 units in six apartment complexes near Gaerong Station
In addition to Uchang and Anam
The Company continues to work diligently.

Ssangyong E&C (Chairman: Kim Suk-jun) plans to change an area near Gaerong Station of Subway Line-5 in Seoul into Ssangyong Town through remodeling work.

The plan involves a total of 2,600 units (i.e. 215 in Samsung, 750 in Sanga, 648 in Samhwan and 435 in Miryung Apartments), in addition to the existing remodeling project for 264 others in Uchang Apartment (won in March 2007) and 299 others in Anam Apartment (won at the end of October 2007).

In this area in Ogeum-dong, Seoul, there are many apartment complexes comprised of 300-700 units 15 to 20 years old suited to the remodeling work. Effective earlier this year, remodeling permits are granted to apartments 15 years old.

In a bid to be selected as the contractor for the remodeling work in this area, Ssangyong E&C opened an exhibition house near Ogeum Station, the first of its kind for a remodeling project, in May 2006 and held an outdoor concert at a site near the Seongnae Stream on October 20, 2007.

Yang Yeong-gyu at the Remodeling Business Department said, “In Songpa-gu, Seoul alone, we have built a total of 4,500 apartments. We enjoy great popularity among residents in the area. In the case of Anam Apartment, two-thirds of the residents selected us as the remodeling contractor in just two weeks. Thus, we intend to expand the remodeling work in the area near Gaerong Station.”

The remodeling work for 299-household Anam Apartment, which requires 40 billion won in expense, includes construction of an underground parking lot and adoption of pilotis and wall fountains. The sizes of individual apartments are increased, i.e. from 56㎡ ~ 115㎡ to 72㎡ ~ 145.2㎡. The work will take two years after commencement in 2008.

In 2000, the Company became the first domestic construction firm to have a team dedicated to the remodeling work. Early this year, it successfully completed the remodeling work for Ssangyong Yega Apartment in Bangbae-dong, Seoul, the first case of remodeling of an entire apartment complex.

It plans to commence the remodeling work for Dongshin Apartment (384 units) in Dogok-dong, Seoul and Pyunghwa Apartment (284 units) in Dangsan-dong, Seoul.