IPark Hyundai Development to open Mokdong IPark Lounge

IPark Hyundai Development said Tuesday it plans to open the Mokdong IPark Lounge on Nov. 2, targeting the Mokdong reconstruction project.

The company said it will fill the lounge with its residential development experience and urban planning capabilities, guided by the concept of "completing Mokdong's time and meeting the pinnacle of IPark."

The lounge will feature a brand exhibition, scale models, a presentation zone and a rest area.

Beyond the exhibition space, visitors will find a content zone and a cafe lounge, where wood-tone finishes and indoor plants are on display. The cafe lounge walls reflect IPark Hyundai Development's values and residential philosophy around everyday life and living spaces.

"We put our commitment to fully applying IPark's capabilities in a way that fits Mokdong's distinct local character," a company official said. "As a developer, we will give concrete shape to the new way of life Mokdong envisions — from residential planning, design and construction to urban development and operations."

Reconstruction work is currently under way across all 14 complexes in the Mokdong area. IPark Hyundai Development was also named Monday as the preferred negotiating partner for the housing redevelopment project in the nearby Sinwol 7-dong Zone 1, signaling the company's push to secure contracts in the surrounding area.

Meanwhile, IPark Hyundai Development posted a consolidated operating profit of 165.8 billion won ($125 million) in the third quarter. It is the first time in about six years that the company's single-quarter operating profit has exceeded 160 billion won.