Kumho E&C Wins Suwon Reconstruction Deal Worth 92.7 Billion Won

Kumho Engineering & Construction (002990) said on Sept. 14 that it has been selected as the builder for the Pajang 1 District housing reconstruction project in Pajang-dong, Jangan-gu, Suwon, Gyeonggi Province.

The Pajang 1 District will be rebuilt into a residential complex of four buildings ranging from two basement levels to 28 floors above ground, with a total of 258 units. Construction is scheduled to begin in February 2031 and be completed in February 2034. The total construction cost is about 92.7 billion won ($67 million).

The complex will carry Atera, Kumho E&C's residential brand. It marks the brand's first project in Suwon, and the complex will be tentatively named Atera Lumiere.

The site sits near the Pajang interchange on the Suwon Northern Beltway and the Buk-Suwon interchange on the Yeongdong Expressway, offering convenient access to regional road networks. Buk-Suwon Station on the Indeogwon-Dongtan double-track railway, set to open in 2029, is planned near the complex.

Several schools, including Pajang Elementary School and Dasol Elementary School, are clustered near the site. Pajang Children's Park and Jeongja Culture Park are within walking distance. The Buk-Suwon Techno Valley, planned as a complex for advanced industries, is also nearby.

"Through this project, Atera, our residential brand, is entering Suwon for the first time," an official at Kumho E&C said. "Based on our expertise in reconstruction projects and the distinctive design of Atera, we will create a landmark complex that stands apart."