Hyundai E&C's Hillstate Samsung building in Gangnam / Courtesy of Hyundai E&C

By Kim Jae-heun

Hyundai Engineering & Construction (E&C) started sales of Hillstate Samsung one-room apartments in Gangnam District, Seoul, the company said, Tuesday. The complex will consist of 165 studio apartments from 50 square meters to 84 square meters in size in buildings up to 17 stories tall.

The builder said that Hillstate Samsung has a high future value as it is near the Gangnam Business District, one of Seoul's top three business districts. Moreover, POSCO Center and Hyundai Motor Group's Global Business Center are located within a kilometer radius of the Hillstate Samsung complex. Teheran Road is also located within walking distance from the Hillstate Samsung complex, nearby the offices of various companies, so Hyundai E&C anticipates that employees will move into its studio apartments.

In addition, an international exchange complex will be developed nearby Hillstate Samsung.

According to the Seoul Metropolitan Government, the 1.99 million-square-meter area connecting Coex to Jamsil Sports Complex is designated as an international exchange complex zone, and the local government is working on inducing more complex development centered on the meetings, incentives, conferencing and exhibitions (MICE) industry. Hyundai E&C said that the demand for Hillstate Samsung is expected to increase more as it believes large companies are likely to move into nearby districts.

Hillstate Samsung's location one of its strengths. It is situated in the middle of Gangnam District. There are many shopping facilities such as Starfield Coex Mall, Hyundai Department Store and Emart, along with medical institutions such as Seoul Medical Center and Gangnam Severance Hospital nearby.

"Hillstate Samsung is expected to become landmark residential complex in Gangnam, where people can enjoy the central living area of a global town," a Hyundai E&C official said.