Hanmi Global, a South Korean construction project management firm, has been selected together with Heerim Architects & Planners as the construction management partner for the rebuilding of the Eunma apartment complex in Daechi-dong, one of the largest redevelopment sites in Seoul's Gangnam area.
Hanmi Global said on the 7th that its consortium with Heerim won the bid held by the Eunma reconstruction association for construction management services. The association issued the tender notice last month and evaluated three bidders on their track records in redevelopment projects and their corporate profiles.
The Hanmi Global-Heerim consortium will handle construction management work across the pre-construction phase. It will focus in particular on reviewing whether construction costs and contract terms are appropriate before the association signs a final contract with the builder, and on finding ways to reduce project costs.
The Eunma project moved onto a firm footing after clearing an integrated review of its redevelopment plan in February and winning approval of its project implementation plan in July. Groundbreaking is targeted for 2028, following approval of the management and disposal plan, resident relocation and demolition. The complex, completed in 1979 with 4,424 units, will be rebuilt into 29 buildings ranging from six basement levels to 49 floors above ground, with a total of 5,850 units. Gangnam District also began closely tracking the project through to the 2028 start, holding a progress meeting on the 2nd of this month with the association, relevant district departments and contractors to check compliance with the conditions attached to the implementation approval and to review follow-up schedules including the management and disposal plan and relocation.
Once the implementation plan is approved, a series of decisions that determine a project's profitability follow, including construction costs, member contributions, the contract with the builder, the management and disposal plan, and the relocation and demolition timetable. The association plans to use the specialist construction manager to review whether the builder's proposed construction costs are reasonable, then move into final contract negotiations after design-stage value engineering and an economic feasibility review.
Hanmi Global has previously handled construction cost management on redevelopment projects in Yongsan. According to the company, it cut project costs by about 39 billion won at the International Building District 4 redevelopment in Yongsan, completed in 2020, and by about 12 billion won at the International Building District 5 project, completed last year, through construction cost negotiations and adjustments to contract terms. The firm is also providing construction management services at other major redevelopment sites, including Hannam Districts 3 and 4, Apgujeong District 3, Bangbae District 5 and Samik Beach in Busan.
"We will concentrate all of our capabilities on the successful execution of the Eunma project, which has served as a weather vane for the reconstruction business," said Lee Jung-bok, executive vice president at Hanmi Global.
