■ First THE H development in Mokdong, and the company’s first construction contract in Mokdong New Town

■ A 2.61 trillion won project to build a large complex of 4,248 units, with towers of up to 40 stories

■ 2026 urban redevelopment orders exceed the 12 trillion won target, with the company continuing to focus on core project sites

Architectural Rendering of THE H MOKDONG ESER

Hyundai E&C said it was formally selected as the builder for the Mokdong Complex 10 reconstruction project at a general meeting held on October 18.

The project will replace an existing 2,160-unit apartment complex in the area around 311 Sinjeong-dong, in Seoul’s Yangcheon District, with a new development of 4,248 apartments in buildings of up to 40 stories, along with community facilities. The project is being carried out by Korea Real Estate Investment & Trust as the developer, and the total construction cost is about 2.61 trillion won.

This contract marks a significant milestone for Hyundai E&C, as it represents the company's first construction contract for a reconstruction project in Mokdong New Town. Developed in the 1980s as 14 apartment complexes, Mokdong New Town has established itself as one of southwestern Seoul's premier residential neighborhoods and educational hubs.

Hyundai E&C plans to introduce its high-end residential brand, “THE H”, to Mokdong for the first time at Complex 10, proposing “THE H MOKDONG ESER” as the name of the development. Derived from the Hebrew word for the number 10, "ESER" reflects both the distinctive identity of Mokdong Complex 10 and Mokdong's reputation as a leading educational district. Through this concept, Hyundai E&C aims to create a prestigious residential community for the next generation.

In particular, Mokdong Complex 10 will adopt the “All-Life Campus” concept, which places education, a defining feature of Mokdong, at the heart of the entire residential development. The vision is to create a living environment where education, nature and community are seamlessly connected, allowing not only younger generations but residents of all ages to learn, interact and grow through everyday experiences.

To bring this vision to life, Hyundai E&C has partnered with world-renowned architectural firm Morphosis and global multidisciplinary design firm Sasaki to elevate the overall design quality. The architectural design by Morphosis, founded by Pritzker Prize laureate Thom Mayne, reflects the distinctive characteristics of Mokdong New Town as a planned community. The project also incorporates landscape and community designs by Sasaki, drawing on the firm's extensive experience in designing world-class university campuses.

With its latest contract win, Hyundai E&C has surpassed its annual target of 12 trillion won in urban redevelopment orders for 2026. Last September, the company became the first in the industry to secure 10 trillion won in urban redevelopment orders for two consecutive years. By adding the Mokdong Complex 10 project to its portfolio, Hyundai E&C is further expanding its order book, with a particular focus on major urban redevelopment projects in Seoul. Building on this momentum, the company plans to bring the expertise it has developed in high-end residential projects in the Gangnam area to Mokdong, delivering a differentiated residential experience tailored to the neighborhood's distinctive characteristics and housing demand.

A Hyundai E&C official said, “The Mokdong Complex 10 project marks a significant milestone as our first entry into the Mokdong New Town reconstruction market.” “By bringing together Hyundai E&C's technical expertise, the competitive strength of THE H brand and world-class design capabilities, we aim to translate Mokdong's longstanding reputation for educational excellence into lasting residential value and create a premium residential community that will stand the test of time.”