Samsung C&T (028260) has won the construction rights for Sibeom Apartments, the first rebuilding complex in Seoul's Yeouido district, launching work on a riverside residential landmark along the Han River.
Korea Asset Trust, the project developer, said on the 19th that a general meeting of landowners held on the 16th approved a motion selecting Samsung C&T as the final contractor. The site is located around 50 Yeouido-dong in Seoul's Yeongdeungpo district, with construction costs of about 2.2685 trillion won ($1.6 billion). The complex will be rebuilt with six basement levels and up to 59 floors above ground, comprising 18 buildings with 2,480 units plus support and welfare facilities.
Sibeom Apartments, completed in 1971, introduced elevators and central heating at the time and laid the foundation for high-rise residential living in South Korea. Samsung C&T named the new complex RAEMIAN SonelY, saying the name reflects its intent to carry on that history while setting a standard for future high-end housing.
For the exterior design, the company teamed up with OMA, the global architecture group behind the Seattle Central Library and the Leeum Museum of Art. The design centers on two landmark buildings rising up to 59 floors, with ceramic panels and glass cladding used in alternating patterns to create a distinctive facade while blending into the Yeouido skyline.
River views were also significantly expanded to make the most of the site. The previous grid layout of 21 buildings was reduced to 18 buildings arranged to face the Han River. The number of units with river views will rise to 2,032 from 1,616, allowing every landowner household to look out over the river. A roughly 90-meter-wide view corridor will open through the center of the complex, with pilotis up to 15 meters high and indoor 270-degree surround windows measuring up to 13.8 meters to maximize a sense of openness.
Inside the units, Samsung C&T will install its proprietary Next Home system. The package includes Next Furniture, movable furnishings, along with Next Wall, a flexible partition system, Next Floor, a dry flooring system, and Next Bath, a modular bathroom for penthouse units, allowing residents to reconfigure layouts to suit their lifestyles.
Green space and support facilities within the complex were also expanded. The central plaza, previously about 12,890 square meters, will be enlarged into a 26,777-square-meter Center Park, connected by pedestrian routes to an adjacent cultural park. Community facilities will total 31,706 square meters, the largest in Yeouido, and will offer about 90 programs. The 41st floor of the landmark tower will house a sky bridge and sky community with Han River views, while landscaped areas will link a residents-only deck of about 27,400 square meters with ground-level space of about 39,700 square meters to form gardens and walking paths.
Lim Chul-jin, head of Samsung C&T's housing sales division, said Sibeom Apartments is a symbolic complex that marked the beginning of apartment living in South Korea. "We will bring together all of Samsung C&T's capabilities to complete a residential masterpiece that becomes a new standard for future housing and represents Yeouido," the executive said.
Samsung C&T has now booked a cumulative 9.6055 trillion won in urban redevelopment orders this year. The company's target for such projects this year is 13 trillion won, putting its achievement rate above 70%.