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Articles by Lee Eunbyeol
IPARK Hyundai Industrial Development Integrates AI and Robotics in Smart Housing Services
IPARK Hyundai Industrial Development is expanding its smart housing services by utilizing artificial intelligence (AI) and robotics to support residents' health management, delivery, and waste collection. On October 22, IPARK Hyundai Industrial Development announced plans to enhance residential services centered around AI-based healthcare and robotic living support. The company aims to establish an 'AI Life Solution' by integrating the AI and robotics technologies of its affiliates.
IPARK Hyundai Industrial Development Reports Record Q3 Operating Profit of 165.8 Billion Won
IPARK Hyundai Industrial Development reported an operating profit of 165.8 billion won for the third quarter of this year, continuing its trend of improved performance. The quarterly operating profit surpassed 160 billion won for the first time in nearly six years, driven by the ramp-up of key projects and cost efficiency improvements.
DL E&C Enhances Living Quality with 'e-Pyeonhansesang Naepo Eduplats'
DL E&C is enhancing the quality and convenience of living spaces with its 'e-Pyeonhansesang Naepo Eduplats,' which combines an excellent educational environment with differentiated residential design.
Hyundai Engineering Wins Housing Innovation Award for Hills State Godeok Elitist
Hyundai Engineering has been awarded the Housing Innovation Award at the 2026 Aju Economy Construction Awards. The company plans to showcase a residential space centered on actual demand through the 'Hills State Godeok Elitist' project in Pyeongtaek's Godeok International New Town. On October 21, Aju Economy selected Hyundai Engineering for the Housing Innovation Award at the 2026 Aju Economy Construction Awards.
Ulsan Complex City Development Wins 2026 Aju Economic Construction Award
Ulsan Complex City Development Co. has been awarded the top prize in the urban development category at the 2026 Aju Economic Construction Awards. The company is recognized for creating a large-scale complex city that integrates residential, industrial, commercial, and cultural functions around KTX Ulsan Station, establishing a new growth hub in western Ulsan. Aju Economic announced on October 21 that Ulsan Complex City Development Co. was selected for the urban development category award.
Sangdo-dong Redevelopment to Transform Area into 35-Story, 1,800-Unit Complex
In the Sangdo-dong area of Dongjak-gu, aging low-rise residential buildings will be transformed into a new apartment complex featuring up to 35 stories and approximately 1,800 units. The Seoul Metropolitan Government plans to reduce disaster risks such as landslides and flooding while enhancing transportation and living infrastructure in conjunction with surrounding development projects.
Community-Driven Housing Project 'Commons Jongam' Prioritizes Design Over Contractor Branding
A community-driven redevelopment project is underway in Jongam-dong, Seongbuk-gu, Seoul, where residents are determining the direction of the project instead of conforming to the designs and branding proposed by construction companies. The 'Commons Jongam' housing redevelopment project distinguishes itself by securing initial funding through public loans and solidifying its project plans before selecting a contractor.
Commons Jongam: Tailored Housing for Diverse Lifestyles
From duplex homes for an elderly mother and her adult son to small units for single residents, residents in Jongam-dong, Seongbuk-gu, Seoul, are creating their own apartment brand and building homes that suit their lifestyles. This initiative is part of the 'Commons Jongam' horizontal housing redevelopment project.
Percentage of Monthly Rent Transactions in Seoul Apartments Surpasses 50%
The proportion of monthly rent transactions in Seoul's rental market has surpassed 50% for the first time. This increase comes as the volume of jeonse transactions has significantly decreased, leading to a rise in the average monthly rent compared to last year.
Seoul Plans Relocation of 176,000 Homes Amid Urban Renewal Projects
Seoul is expected to relocate a total of 176,000 homes as part of its plan to begin construction on 310,000 homes by 2031. Amid concerns about instability in the rental market due to large-scale urban renewal projects, the city stated that the annual relocation volume will be similar to past averages, indicating it is manageable.
Seodaemun District Launches Apartment Council to Enhance Resident Rights
Seodaemun District in Seoul has established a council to facilitate information sharing among local apartment complexes and enhance communication with residents. On October 19, Seodaemun District announced the official launch of the 'Seodaemun Apartment Council' aimed at reducing information gaps among the 73 apartment complexes in the area and improving resident rights.
BS Hanyang to Supply 2,316 Units of 'Sejong Smart City El Sujain'
BS Hanyang is set to introduce 'Sejong Smart City El Sujain,' a development comprising a total of 2,316 units, including apartments and officetels, in the Sejong Smart City national pilot project. On October 19, BS Hanyang announced that the project will be launched for sale in November, located in the L6, L7, L8, and L11 blocks of the 5-1 living zone in Hapgang-dong, Sejong Special Self-Governing City. The development will consist of 2,191 apartments and 125 officetels.
Seoul Mayor Oh Se-hoon Predicts Continued Rise in Housing Prices Amid Rental Shortage
Seoul Mayor Oh Se-hoon has projected that the ongoing shortage of rental properties in the city is likely to drive up housing prices through the end of this year and into early next year. He noted that the rental crisis in the northeastern and southwestern outskirts of Seoul is expected to keep apartment prices rising for the foreseeable future.
Debate Erupts Over Rising Seoul Housing Prices Amid Supply Shortages
Seoul's apartment prices have risen for 88 consecutive weeks, prompting a heated debate during a National Assembly audit regarding the removal of land transaction permit zones and housing supply shortages. Opposition lawmakers criticized the city government's regulatory rollbacks and poor supply performance, while Seoul Mayor Oh Se-hoon attributed the instability in housing prices to past decisions on redevelopment zones and government real estate policies.
Yeouido Gongjak Apartment Redevelopment Approved for 49-Story Project
The redevelopment project for the Gongjak Apartment in Yeouido, Seoul, has received approval for its implementation plan. The project aims to transform the existing 373-unit complex into a new development featuring up to 49 stories and 585 units, accelerating the process following the selection of a construction company and the completion of integrated reviews.
Seoul City Council Faces Scrutiny Over Han River Bus Corruption Allegations
The National Assembly's Land, Infrastructure and Transport Committee held an audit of Seoul City, focusing on allegations of corruption related to the Han River Bus project and the city's response to these claims. During the audit on October 19, opposition lawmakers, including those from the Democratic Party, raised concerns about the Han River Bus project and the city's reluctance to provide requested documents.
Seoul Mayor Oh Se-hoon Denies Allegations of Kickbacks in Han River Bus Project
Seoul Mayor Oh Se-hoon has dismissed allegations of kickbacks related to the Han River bus project, asserting that the disputed amount was merely a brokerage fee paid during the shipbuilding contract process.
Oh Se-hoon: 15,000 Housing Units Under Construction This Year
Oh Se-hoon, the Mayor of Seoul, announced during a National Assembly audit that 15,000 housing units in the city have begun construction this year. He expressed his commitment to continuous housing supply and stability in the rental market through revitalization of redevelopment projects.
Debate Over Land Transaction Permit System Intensifies as Deadline Approaches
The government's suggestion to extend the land transaction permit zones, which are set to expire at the end of this year, has reignited discussions about the effectiveness of these regulations. Concerns about transaction declines, demand shifts to non-regulated areas, and instability in the rental market have prompted calls for a reevaluation of the regulations' efficacy.
Godeokgangil District 3 Begins Public Housing Applications Starting at 280 Million Won
The Godeokgangil District 3 in Gangdong-gu, Seoul, has launched public applications for land lease public housing, with prices starting at 280 million won. The land is publicly owned, and residents can live in the buildings for up to 80 years, with the option for private transactions after 10 years. On October 16, the Seoul Housing and Communities Corporation (SH) announced the recruitment notice for 1,305 units in Godeokgangil District 3.
Seoul Apartment Land Transaction Applications Rise After Five Months
Seoul's applications for apartment land transaction permits have rebounded after five months, with price trends varying by region. While prices in the Gangnam area have decreased, outer districts such as Gangbuk and the southwestern regions have recorded increases of over 2%. The Seoul city government reported on the 15th that there were 3,678 new applications for apartment land transaction permits in September. This marks a return to growth after four consecutive months of decline since April.
Tax Burden Increases Urgent Sales, Gangnam Apartment Transaction Index Falls for First Time in Four Months
As the government moves to increase real estate taxes, urgent sales of high-priced apartments in Seoul's Gangnam area have surged, leading to a decline in the transaction index for the first time in four months. In contrast, the northeast region, which includes Nowon, Dobong, and Gangbuk, continues to see price increases, resulting in mixed trends across different areas.
Seoul Plans to Supply 310,000 Homes by 2031 Amid Housing Shortage
Seoul has assessed that the de-designation of past redevelopment zones and a focus on preservation have weakened the foundation for housing supply. The city plans to initiate construction on 310,000 homes by 2031 through revitalizing redevelopment projects. On October 16, the city announced the upcoming release of a white paper titled 'Evaluation and Reflection on 20 Years of Seoul Housing Supply Policy,' which analyzes housing supply policies over the past two decades.
Rising Popularity of Semi-Self Renovations Among Apartment Buyers
Homebuyers burdened by loans for older apartments are increasingly turning to 'semi-self renovations.' This approach allows them to select specific renovation tasks and hire contractors directly, reducing overall costs while improving their living environments. According to the interior design industry, content showcasing the process of repairing older apartments has gained traction on social media.
IPARK Hyundai Development Donates to Senior Welfare Bazaar in Yangcheon
IPARK Hyundai Development announced it held a donation ceremony on October 15 at the Yangcheon Senior Welfare Center in Seoul to enhance local senior welfare. The event was attended by Han Seung-ho, director of the Yangcheon Senior Welfare Center, and Jeong Kwang-jae, head of the urban maintenance project team. The donation will be used for a bazaar organized by the center for local seniors. This bazaar aims to promote interaction and sharing among local seniors.
Despite Restrictions, Seoul Housing Prices Rise 10% in a Year
The South Korean government aimed to curb housing demand and stabilize prices by designating all of Seoul as a regulated area and tightening loan requirements. However, in the year following the implementation of the '10·15 real estate measures,' both apartment and rental prices in Seoul increased by around 10%. While transactions decreased, this did not lead to price stabilization, and demand shifted towards mid-priced and outer areas, exacerbating rental market pressures.
Seoul Commercial Real Estate Transactions Drop 31% in August to 1.8 Trillion Won
Seoul's commercial and office real estate transactions fell by 31.2% in August compared to the previous month. The value of large transactions exceeding 100 billion won dropped by 48.0%, and transactions under 100 billion won also saw declines in both volume and value, leading to an overall contraction in the market. However, the cumulative transaction volume from January to August increased by 13.3% compared to the same period last year.
New Apartments in Hwaseong's Hyangnam Area After Five Years: 'Hyangnam Station Grove Swichen' Now Selling
A new brand of apartments is being offered in the Hyangnam area of Hwaseong, Gyeonggi Province, for the first time in five years. The development is strategically located near industrial complexes and is equipped with schools and commercial facilities, raising interest in potential residential demand due to future railway expansions and industrial developments.
Professor Kim Jeong-seop: Construction of 310,000 Homes in Seoul Could Raise Rent by Up to 5%
If the city of Seoul proceeds with its plan to construct 310,000 homes by 2031 through redevelopment projects, surrounding rental prices could rise by as much as 5% in the short term due to relocation demand. However, in the long term, the increase in housing supply may lead to price stabilization, according to an analysis.
IPARK Hyundai Development Creates Classroom Forest at Samgwang Elementary School
IPARK Hyundai Development has established an eco-friendly green space at Samgwang Elementary School in Yongsan, Seoul. This marks the third classroom forest created this year, following those at Shinmok Elementary School in August and Dorim Elementary School in September. On October 12, IPARK Hyundai Development held an opening ceremony for the 'Symphony Classroom Forest' at Samgwang Elementary School in Galwol-dong, Yongsan.
Developer Association Hosts Redevelopment Briefing with U.S. Firm to Accelerate Overseas Infrastructure
The Korea Developer Association is seeking overseas business opportunities by hosting a briefing on redevelopment projects with a U.S. real estate development firm. On October 13, the Korea Developer Association will hold a briefing on the 'West Bottoms Redevelopment Project' in collaboration with SomeraRoad, a U.S. alternative investment management and development company.
Seoul Apartment Transactions Plummet 39.7%, National Real Estate Activity Slows
National real estate transactions have decreased for five consecutive months, reaching their lowest level since January 2025. In Seoul, apartment transactions fell by 39.7% from the previous month, marking the largest decline among major cities. Real Estate Planet released a report on October 13 analyzing data from the Ministry of Land, Infrastructure and Transport, detailing the national real estate market trends for August 2026.
Government Pushes for Housing Development in Key Areas Amid Challenges
The government is accelerating the development of key public sites such as Taereung CC, Yongsan Camp Kim, and Gwacheon Racecourse to expand housing supply in the metropolitan area. However, significant challenges remain before actual construction can begin.
Seoul Launches Integrated Planning for Redevelopment of Low-Rise Housing Areas
Seoul is introducing the 'Integrated Planning Initiative' to reduce the duration of its Moa Town redevelopment project for aging low-rise residential areas. The city aims to select 100 candidate sites by 2030, cutting the time from site selection to construction from approximately six years to 4.5 years. According to the city on October 12, the application process for Moa Town candidate sites will begin on November 2, with applications accepted starting from that date.
Experts Call for Easing Regulations on Multiple Homeowners Amid Rental Market Instability
Experts have suggested that in order to stabilize the rental market, it is necessary to reconsider regulations that restrict existing homes from entering the rental market, alongside increasing new housing supply. They argue that regulations on multiple homeowners and non-resident homeowners, as well as the expansion of land transaction permission zones, could suppress rental housing supply and hinder residential mobility, thereby increasing upward pressure on rental prices.
Seminar on South Korea's Economy and Real Estate Policy Scheduled for October 8
A seminar addressing key issues in South Korea's economy and real estate market will take place at the National Assembly. The Korea Economic Critics Association announced on October 7 that it will host a regular seminar titled 'Where is the South Korean Economy and Real Estate Policy Heading?' on October 8 in the second meeting room of the National Assembly's member office building.
An Se-young and Kim Do-hyung Receive Pony Chung Young Leader Award
The Pony Chung Foundation has selected badminton national team member An Se-young and Kim Do-hyung, an assistant professor at the University of Pennsylvania's Department of Chemistry and Bioengineering, as recipients of the 7th Pony Chung Young Leader Award. On October 7, the Pony Chung Foundation announced that An Se-young and Kim Do-hyung would receive the award, with the ceremony scheduled for November 25 at the Pony Chung Hall in the I-Park Tower in Samsung-dong, Seoul.
Sani Garden to Host '2026 Garden Festa' Welcoming Fall Tourists
As autumn approaches, Sani Garden in Haenam, South Jeolla Province, will host a variety of fall festivals, including sweet potato experiences, family marathons, exhibitions, and camping activities. BS Group announced on the 7th that the '2026 Garden Festa,' its signature fall festival, will take place on the 17th and 18th. The festival will feature a sweet potato garden festival, an ESG fair, and a children's drawing contest, along with cultural exhibitions and camping programs throughout October.
Two Dead in Construction Site Falls; Urgent Need for Basic Safety Measures
More than half of the construction site fatalities in the past five years were due to falls, highlighting the urgent need for basic safety measures at these sites. According to data analyzed by Rep. Hwang Hee of the Democratic Party, a member of the National Assembly's Land, Infrastructure and Transport Committee, a total of 1,220 construction site deaths were recorded from 2021 to June 2026. Among these, 642 fatalities, or 52.6%, were due to falls.
IPARK Hyundai Industrial Development Wins Busan Yeonsan 13 District Redevelopment Project Worth 281.2 Billion Won
IPARK Hyundai Industrial Development has secured the construction rights for the Yeonsan 13 District redevelopment project in Busan, continuing its momentum in winning redevelopment contracts this second half of the year. On October 6, IPARK Hyundai Industrial Development announced that it was selected as the construction company during the general assembly for the Yeonsan 13 District housing redevelopment project.
Joint Contracting System for Main Contractors Should Be Permanent, Construction Industry Says
To reduce the issues of multi-tier subcontracting and wage arrears in construction sites, there is a call to activate the 'joint contracting system for main contractors,' allowing specialized construction firms to contract directly with clients. The aim is to extend the temporary provisions set to expire at the end of this year and strengthen the legal basis for stable use in public projects.
Public Rental Housing Faces 167 Billion Won in Rent Losses Over Five Years
Long-term vacancies in public rental housing have resulted in over 167 billion won in rent losses over the past five years. According to data analyzed by Democratic Party lawmaker Hwang Hee (Seoul Yangcheon-gap), which was submitted by the Korea Land and Housing Corporation (LH), the total rent loss from properties vacant for more than a year from 2021 to 2025 amounted to 167.032 billion won.
Over 7,000 Cases of Unauthorized Use Detected on Highway Idle Land
More than 7,000 cases of unauthorized use have been detected on highway idle land managed by the Korea Expressway Corporation over the past five years. Concerns have been raised about the effectiveness of managing these idle lands, especially as some areas have been occupied without permission for over a decade.
Seoul's Housing Prices and Supply Under Scrutiny in National Audit
Seoul City is set to face scrutiny in a national audit regarding its housing supply expansion and redevelopment policies, as well as issues surrounding Yongsan Park, the greenbelt, and the omission of rebar in the GTX-A Samsung Station project. According to the National Assembly, the Administrative Safety Committee will conduct its audit on October 15, while the Land, Infrastructure and Transport Committee will follow on October 19.
Lee Kang-seok Takes Helm at Daewoo Engineering & Construction, Aiming for Growth in AI and Data Centers
Lee Kang-seok, the new CEO of Daewoo Engineering & Construction, has announced plans to enhance profitability and financial stability while expanding investments in future growth areas such as artificial intelligence (AI) infrastructure, data centers, and robotics. Daewoo Engineering & Construction held Lee's inauguration ceremony on October 2 at its headquarters in Euljiro.
Understanding Small-Scale Housing Redevelopment Projects in Seoul
Kim Ian, a 31-year-old office worker, has been closely examining banners for redevelopment projects posted in his neighborhood on his way home from work.
Key Terms to Know When Buying Redevelopment Villas
When purchasing multi-family or apartment buildings targeted for redevelopment, there are several important factors to consider. A clear understanding of terms such as residential rights, allocation rights, the rights assessment standard date, and restrictions on member status transfer is essential. First, let's look at residential rights and allocation rights. Residential rights refer to the entitlement of existing landowners in a redevelopment area to receive new housing during the project.
Conflict Over JYP Entertainment's New Headquarters in Seoul
Conflict continues over the construction of JYP Entertainment's new headquarters in Godeok-dong, Gangdong District, as local officials revealed that the change of use for adjacent park land was under review before JYP's land acquisition. Residents are demanding the restoration of the park and transparency regarding the change process, but the Seoul Housing and Communities Corporation (SH) maintains that the change is necessary to secure funding for a school and has no plans to withdraw.
DL E&C Selected as Preferred Negotiation Partner for $2.1 Billion Seongsu 2 District Redevelopment
DL E&C has been selected as the preferred negotiation partner for the redevelopment project in the Seongsu 2 strategic maintenance area, with a project cost of 2.1 trillion won. The company has signed financial agreements with ten major domestic financial institutions.
Worker Killed in Major Accident at Hyundai Engineering Construction Site
A major accident occurred at a construction site operated by Hyundai Engineering, resulting in the death of one worker due to falling concrete debris. On September 30, Hyundai Engineering reported the incident at the 'D.H. Clast' construction site in Seoul through the Financial Supervisory Service's electronic disclosure system. The accident happened during the removal of concrete debris from the ceiling inside a unit.
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