POSCO E&C Hauterre Bangbae / Courtesy of POSCO E&C

By Kim Hyun-bin

POSCO E&C was finally selected as the construction company for an apartment reconstruction project in Bangbae-dong in southern Seoul's Gangnam District. This will be the first site to construct POSCO E&C's new Hauterre premium apartment brand launched last July.

POSCO E&C was selected as the construction company at a recent project contractor selection meeting for the reconstruction of the Bangbae Shin DongA Apartment complex, which opened in October 1982.

The new complex will be worth a total of 374.6 billion won ($278.2 billion) and consist of 843 households in seven buildings with three floors belowground and 35 floors aboveground.

The company proposed Hauterre Bangbae as the name for the new complex. Hauterre is a premium apartment brand launched last July by POSCO E&C to strengthen its brand competitiveness in Seoul.

The exterior design of Hauterre Bangbae was done by JERDE, who has designed landmark projects around the world, such as the Bellagio Hotel in Las Vegas and the Dubai International Financial Center. The landscaping was designed by STOSS led by Chris Reed, a professor of landscaping at Harvard University.

In addition, a 120-meter dual skywalk, the longest in Gangnam, will be built on the top floor of the complex, and ultra-wide parking spaces measuring three meters wide and six meters long will be provided for 2.4 cars per household.

POSCO E&C is evaluated to have enhanced its competitiveness in the housing development business since Han Sung-hee became CEO. In his first year in office in 2020, he won 2.7456 trillion won in urban reconstruction projects, then achieved 4.213 trillion won in new orders for urban maintenance in 2021 and won 4.5892 trillion won in 2022, breaking a record for new reconstruction orders.