Hanwha, Hyundai Team Up for First Major Complex in 20 Years in Jinju

Hanwha E&C-Hyundai Engineering & Construction consortium 1,032 units across eight buildings, from two basement levels to 35 floors 398 units of 59-84 sq. m. offered in general sale, with special supply on the 24th First branded consortium complex in Jinju by major builders

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By Baek Ju-yeon
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Rendering of Forena Hillstate Jinju, being sold in Ihyeon-dong, Jinju, South Gyeongsang Province. Photo courtesy of Hanwha Engineering & Construction. - Seoul Economic Daily Finance News from South Korea
Rendering of Forena Hillstate Jinju, being sold in Ihyeon-dong, Jinju, South Gyeongsang Province. Photo courtesy of Hanwha Engineering & Construction.

Hanwha Engineering & Construction and Hyundai Engineering & Construction have begun the sales process for "Forena Hillstate Jinju," a joint apartment project in the Juyak-dong area of Jinju, South Gyeongsang Province, opening a model house alongside the launch.

Hanwha E&C said on the 17th that the development stands out for its rarity as the first apartment complex in the Jinju area to be built by a consortium of major construction firms. The complex will comprise 1,032 units across eight buildings, ranging from two basement levels to a maximum of 35 floors above ground. The unit mix consists of 211 units of 59 sq. m. Type A, 21 units of 59 sq. m. Type B, 149 units of 72 sq. m. Type A, 96 units of 72 sq. m. Type B, 384 units of 84 sq. m. Type A, 103 units of 84 sq. m. Type B and 68 units of 110 sq. m. Type A, all measured in exclusive floor area. Of these, 398 units ranging from 59 to 84 sq. m. will be offered in the general sale.

The subscription process begins with a special supply on the 24th of this month, followed by first-priority applications on the 25th and second-priority applications on the 26th. Winners will be announced on Sept. 1, and formal contracts will be signed over three days beginning Sept. 14. Eligibility for the general supply, as of the date of the recruitment notice, is open to residents of Jinju, or to residents of South Gyeongsang Province, Busan and Ulsan who are at least 19 years old or minors who head a household. Applicants must additionally have held a housing subscription savings account for at least six months and meet regional and floor-area deposit requirements.

The Ihyeon-dong area has seen no new housing sales since 2005. As many existing apartments are aging complexes more than 15 years old, demand is expected to converge on the new apartments, the first supplied in 20 years.

Transportation access is cited as another strength. Jinju Boulevard and the ring road provide easy access to downtown Jinju, while the Seo-Jinju IC connects to the Tongyeong-Daejeon Expressway and the Namhae Expressway. The Jinju intercity bus terminal and the express bus terminal are within about 10 minutes by car, and KTX Jinju Station is within about 20 minutes.

With two major brands joining forces, the developers said they put particular effort into the product design. The exterior features a curtain-wall look and glass railings, and the spacing between buildings was designed to reach up to 100 meters. The grounds will include a central plaza, resident exercise facilities, a children's playground and a pet park, while community amenities will feature a kids' café, study rooms, a small library, a fitness center, a golf practice range and screen golf. It will also have a guesthouse, a shared office and a sauna.

For safety, 24-hour CCTV and emergency bells will be installed on main pathways and in elevators, and a specialized system for reducing fine dust and improving ventilation, the "Forena Blue Air System," will also be introduced.

Parking will be fully placed underground, with about 1.6 spaces secured per unit. The complex will also feature "EV Air Station," a ceiling-mounted electric vehicle charging facility developed in-house by Hanwha E&C, and about 590 spaces — 35% of all parking spots — will be built as a "Wide Parking System" that is wider than standard spaces.

Interior units are based on a mostly south-facing layout and a four-bay flat design. The four-bay flat design is applied to all 59 sq. m. units, and the living room's recessed ceiling is designed at a height of 2.45 meters. The master bedroom includes a dressing room, an alpha room and various storage spaces.

Companies in this story

Original reporting by Baek Ju-yeon for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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