Hyundai Engineering & Construction has been selected as a contractor for Hannam newtown district 3 by the association of housing redevelopment of the region in Yongsan-gu, Seoul, Sunday.

At the first round of voting, Hyundai won 1,167 votes, Daelim Industrial had 1,060 votes and GS Engineering & Construction won 497 votes, respectively. Hyundai was selected in a runoff with 1,409 votes. Daelim had 1,258 votes.

The construction of Hannam 3 District is estimated to cost 1.8 trillion won ($1.4 billion) and the total project cost will be about 7 trillion won. It will include 197 buildings for 5,816 households with six basement floors and 22 floors above ground, as well as neighborhood living facilities, in Yongsan-gu, Seoul. 

By Shin Ji-hye (shinjh@heraldcorp.com)