Dongbu wins sole contract for W101.5b mixed-use project in Chuncheon

Dongbu Construction has won a sole contract for a mixed-use residential construction project worth over 100 billion won ($64.9 million) in the old downtown area of Chuncheon, Gangwon Province.

The company announced Monday it had been awarded the contract for the Chuncheon Hyoja-dong Mixed-Use Residential Construction project, commissioned by KT Estate, the real estate arm of KT Corp.

The project will develop a mixed-use complex at 681-12 Hyoja-dong in Chuncheon, rising 39 above-ground floors over 6 below-ground levels.

The total floor area will be approximately 52,835 square meters and will include 264 residential units alongside neighborhood commercial facilities. The residential component comprises 32 units with an exclusive use area of 59 square meters and 232 units of 84 square meters.

The total contract value is approximately 101.5 billion won, with a construction period of about 48 months from ground-breaking.

The site sits within Chuncheon's established old downtown residential zone, giving future residents access to existing infrastructure including schools, medical facilities, government offices and commercial amenities. Its proximity to the city's main road network also supports convenient urban living, the company said.

The high-rise mixed-use complex is notable for entering a market where new residential supply in the old downtown area is limited. Dongbu Construction expects the combination of residential units and neighborhood commercial space to improve residents' quality of life and help revitalize nearby retail districts.

Dongbu Construction said it earned the contract by demonstrating a strong understanding of residential products and the capability to execute the project.

The company proposed a range of measures to enhance product quality, including improvements to individual unit layouts, specialized community facilities, and better resident circulation and shared spaces. Some 84-square-meter unit types will incorporate improved storage solutions and kitchen layouts.

Community amenities will center on facilities with strong resident appeal — a fitness center, golf practice facility, children's space, guesthouse and sky lounge — with the aim of boosting both practical usability and overall product value.

Dongbu Construction said it continues to pursue a profitability-focused, selective contracting strategy, drawing on the construction quality and cost management capabilities it has built up in its housing and building division.

The company's new contract wins this year have surpassed 1 trillion won. Dongbu Construction said it is also accelerating efforts to build a balanced project portfolio spanning both public and private sectors.

"This project is expected to deliver stable business viability, underpinned by the lifestyle infrastructure and urban residential demand of Chuncheon's old downtown," a Dongbu Construction official said. "We will draw on our accumulated residential construction experience and product proposal capabilities to deliver a high-quality mixed-use complex that defines Chuncheon."