HDC HOLDINGS CO.,Ltd Subsidiary wins KRW 183.4 billion Misung Apartment reconstruction order in Seoul
HAI summary · Not investment advice
Subsidiary IPARK HYUNDAI DEVELOPMENT COMPANY signed a KRW 183.4 billion contract for the Misung Apartment reconstruction in Seoul, equal to 4.4% of its recent revenue.
Contract amount
KRW 183.4 billion
Subsidiary IPARK Hyundai Development · 4.4% of recent revenue · excluding VAT
Key facts
- Counterparty
- Misung Apartment reconstruction association and a real estate trust companyThe association is the project operator; the trust company acts as project agent and contracting party
- Contract details
- Misung Apartment reconstruction projectConstruction order · 5 apartment buildings with 490 units, 3 basement to 29 above-ground floors
- % of revenue
- 4.4%
- Subsidiary
- IPARK HYUNDAI DEVELOPMENT COMPANY
- Recent revenue
- KRW 4.1 trillionSubsidiary, 2025 consolidated
- Supply region
- Sillim-dong, Gwanak-gu, Seoul
- Contract date
- Oct 15, 2026
- Payment terms
- Paid as work is completedNo down payment or advance
Commentary
AI commentary · Not investment advice
What happened
IPARK HYUNDAI DEVELOPMENT COMPANY, a subsidiary of HDC HOLDINGS, won the construction contract for the Misung Apartment reconstruction in Sillim-dong, Gwanak-gu, Seoul. The counterparties are the project's reconstruction association and a real estate trust company acting as project agent. The contract is worth KRW 183.4 billion excluding VAT. The work covers 5 apartment buildings with 490 units, 3 floors underground and 29 above ground, plus amenities. Payment is made as work is completed.
In the company's terms
The amount equals 4.4% of the subsidiary's recent revenue (KRW 4.1 trillion, 2025 consolidated). The construction period is 43 months from approval of the construction start. The company said the project may change during the permit process, and the period and amount may also change.
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