Namkwang Construction enters Incheon reconstruction bid with revamped Haustory brand

Namkwang Construction is entering a reconstruction bidding competition under its revamped housing brand Haustory.

The company announced Thursday it will participate in the bid for the LH-assisted street-block housing improvement project at Dong-A Apartment in Yonghyeon-dong, Michuhol-gu, Incheon. It is the first urban renewal project the company has entered since unifying its housing brand with affiliate Geukdong Construction under the Haustory name, ahead of the firm's 80th anniversary.

Kang Gyeong-min, CEO of Geukdong Construction and concurrently head of Namkwang Construction's housing division, visited the project site Tuesday with senior executives to assess the location and project conditions firsthand and discuss bidding strategy.

The project also marks the first occasion on which Haustory will formally propose The K-House, its vision for a future residential model.

The K-House concept focuses on spaces and services that allow residents to live comfortably over the long term, rather than competing on flashy exteriors or premium finishes. "Not every apartment needs to follow an ultra-luxury, high-end strategy," a Namkwang Construction official said. "Housing that offers reasonable prices, reliable quality, flexible layouts that adapt to changing lifestyles, and ongoing management services after move-in will be more competitive going forward."

The core idea behind The K-House is a home that keeps getting better as residents live in it — not a finished product at the point of pre-sale, but a residential platform that evolves and grows alongside the lives of its occupants.

The concept incorporates flexible design that allows residents to reconfigure spaces as their household composition changes, and the company is reviewing plans to provide a range of lifestyle services after move-in. It is also considering a subscription-based model that would let residents use home appliances, furniture and household goods on a subscription basis.

The plan calls for a structure in which residents can swap in the latest products or choose new services as needed, enabling the home itself to be continuously upgraded. "Housing going forward must keep evolving and changing even after residents move in," Kang said. "A residential platform that grows with the lives of its occupants — that is the direction The K-House is pursuing."

The Dong-A Apartment street-block improvement project, the first to apply the concept, is located in the area of 610-113 Yonghyeon-dong, Michuhol-gu, Incheon. Once complete, the existing complex will be redeveloped into a new complex of six buildings with 5 below-ground floors and 39 above-ground floors, totaling 994 units.

A site briefing held last month drew strong interest, with numerous construction companies attending alongside Geukdong Construction and Namkwang Construction — including Dongwon Development, Hansin Engineering & Construction, Daebo Construction, Isu Construction, BS Hanyang and IS Dongseo. A contractor is set to be selected in July following a bid on June 9.

Meanwhile, Namkwang Construction has signaled its intention to aggressively pursue urban renewal contracts, having secured the construction rights for the Garak 7-cha street-block improvement project in Songpa-gu in February.