GS Engineering & Construction announced Friday that it signed a financial MOU with Shinhan Bank at its Grand Seoul headquarters in Jongno-gu, Seoul, to support the smooth execution of the Mokdong 12 apartment complex reconstruction project.
Under the agreement, GS Engineering & Construction and Shinhan Bank will establish a cooperative framework to secure financing for project costs and relocation expenses for association members. The two companies plan to continue working together on stable funding arrangements as the project advances.
GS Engineering & Construction has been preparing a differentiated design for the Mokdong 12 contract by collaborating with global specialists across architecture, landscaping and structural engineering. The financial MOU further strengthens the company's overall competitiveness in both design and financing. For the project, GS Engineering & Construction partnered with global architecture firm Gensler for building design, EDSA for landscaping and Arup for structural safety design.
The company plans to develop Mokdong 12 into a flagship residential complex for southwestern Seoul, drawing on its project execution capabilities and product quality. Through this, it aims to continue expanding the presence of its Xi brand across redevelopment projects in the Mokdong area.
"Our goal is to transform Mokdong 12 into more than just a residential space — we want it to be a landmark complex representing southwestern Seoul," a GS Engineering & Construction official said. "We will propose differentiated residential value that association members can truly feel, backed by our design and construction capabilities and extensive redevelopment experience."
Meanwhile, GS Engineering & Construction ranked third in the Ministry of Land, Infrastructure and Transport's latest construction capability assessment for civil and architectural works, rising two places from last year.
hwshin@heraldcorp.com
