Lotte Engineering & Construction was selected as the contractor for the Seongsu District 4 redevelopment project in Seoul's Seongdong-gu on the 5th, following a vote by the project association. Out of 753 total union members, 620 attended the general meeting, and 449 voted in favor of appointing Lotte E&C as the contractor. The redevelopment project involves constructing 1,447 residential units and auxiliary facilities across approximately 89,828 square meters in Seongsu-dong 2-ga, with a total construction cost of approximately ₩1.3628 trillion. The selection followed a competitive bidding process that included a failed tender in February and disputes over bidding guidelines involving Daewoo Engineering & Construction.
Lotte E&C Proposes Le'El S70 Brand with International Design Partners
Lotte E&C proposed the brand name "Seongsu Le'El S70" for the redevelopment project. The company announced collaboration with Pritzker Prize winner David Chipperfield and LERA, the structural engineering firm that previously worked on Lotte World Tower. The design plan includes arranging all units to provide Han River views and applying 3-meter-high ceilings to maximize interior openness. The complex will feature 77 community programs in a multi-cultural facility and a large central plaza spanning approximately 16,800 square meters.
February Tender Failure and Bidding Disputes Preceded Final Selection
The contractor selection process for Seongsu District 4 faced complications before reaching completion. In February, the initial tender was declared invalid due to missing key drawings and documents. Subsequently, Daewoo Engineering & Construction filed an objection claiming that Lotte E&C's proposed minimum relocation cost of ₩2 billion violated bidding guidelines, intensifying competition between the two contractors.
Cumulative Urban Redevelopment Orders Reach ₩2.8541 Trillion
Lotte E&C's cumulative urban redevelopment project orders for this year total ₩2.8541 trillion. Koh Yong-joo, head of Lotte E&C's Development Business Division, stated: "We will fully implement the proposal content as promised and maximize the unique value of Seongsu District 4, including Han River views and ultra-high-rise design. By mobilizing all the technology and capabilities Lotte E&C has accumulated and swiftly advancing the project, we will complete 'Seongsu Le'El S70' as the best hyper-end landmark representing not only Seongsu-dong but all of Seoul."
FAQ
How many votes did Lotte E&C receive in the Seongsu District 4 contractor selection?
Lotte E&C received 449 votes in favor out of 620 union members who attended the general meeting on the 5th. The total number of union members was 753.
What is the total construction cost of the Seongsu District 4 redevelopment project?
The total construction cost is approximately ₩1.3628 trillion. The project will construct 1,447 residential units across approximately 89,828 square meters, with buildings ranging from basement 6 floors to 64 floors above ground.
