Established in 2003 by
Chairman Park Joung In, in partnership
with the Military Mutual Aid Association
(MMAA) of Korea, one of the most gigantic
institutional investor in the country.
The KoRED HOUSING INC. has risen to a
supreme developer, as it realized the
Dongcheon Housing Complex Project at the
core of Yongin City, the first case of
new town development led by the private
sector in the country. In the planning
process are other projects for large-scale
housing complexes located in the new urban
centers of the sprawling metropolitan
area, including Yongin, Incheon and Suwon
Cities. Sales in total as of the year
2007 is forecast to reach about 2.1 billion
US dollars. The KoRED's cooperation with
the Samsung Corporation and the Kookmin
Bank (KB), either of which takes the leading
role in its field of the construction
and engineering or the financial service
in the nation, will continue over next
years.
Dongcheon
Housing Complex Project
This
grand scale project, whose site
area reaches 470,000m2, has been
advanced since 2001. The Samsung
Corporation was selected as the
builder of the luxury apartments
in the beautiful environment, while
the Kookmin Bank is financing the
project.
Put up for bidding,
taken amid a high attention of the
market watchers, as the construction
began lately, Dongcheon Housing
Complex recorded an outstanding
sales success. In spite of the recent
recession in the housing market
across the country, there came about
a great demand for the luxury apartments
distributed by the KoRED. The average
ratio of bidding for public offering
came out to be 8-to1, and some popular
apartment unit type showed a competition
rate of over 100-to-1.
Such achievement can be attributed
to the following factors: the incomparable
quality of design for both interior
and exterior, the excellent location,
the untrodden natural environment
that surrounds the complex and the
high expected investment returns.
Additionally, the up-to-date high-tech
intensive housing facilities attracted
our customers.
Location: Dongcheon-dong, Yongin
City, Gyeonggi-do Province / Area:
469,445㎡ / Number of Households:
2,666 units / Expected Sales in
Total: 2 trillion Korean won (about
2.1 billion US dollars) / Project
Promotion Cost: 730 billion won
/ Construction Cost: 700 billion
won / Commissioned Financial Agency:
Kookmin Bank / Construction Company:
Samsung Corporation (Housing Development
Division) / Project Period: 2003
through 2010 / Earning Point of
Time: Second half of the year 2007
Dongchun District Housing Complex Construction Work
Location: Incheon
Metropolitan City / Area: 170,000㎡
/ Number of Households: 2,200 units
/ Expected Sales in Total: 1.2 trillion
Korean won (about 1.27 billion US
dollars) / Project Promotion Cost:
400 billion won / Construction Cost:
360 billion won / Commissioned Financial
Agency: Kookmin Bank / Construction
Company: Samsung Corporation (Housing
Development Division) / Project
Period: 2007 through 2012 / Earning
Point of Time: Second half of the
year 2009
Shin-dong
Housing Complex Construction
Work
Location: Suwon
City, Gyeonggi-do Province / Area:
140,000㎡ / Number of Households:
1,400 apartments / Expected Sales
in Total: 800 billion Korean won
(about 850 million US dollars) /
Project Promotion Cost: 310 billion
won / Construction Cost: 260 billion
won / Commissioned Financial Agency:
Kookmin Bank / Construction Company:
Samsung Corporation (Housing Development
Division) / Project Period: 2006
through 2011 / Earning Point of
Time: Second half of the year 2008
Dongcheon
II District Housing Complex
Construction Work (under planning)
Location: Dongcheon-dong,
Yongin City, Gyeonggi-do Province
/ Area: 350,000㎡ / Number of Households:
2,300 apartments / Expected Sales
in Total: 1.7 trillion Korean won
(about 1.9 billion US dollars) /
Project Promotion Cost: 600 billion
won / Construction Cost: 580 billion
won / Commissioned Financial Agency:
Kookmin Bank / Construction Company:
Samsung Corporation (Housing Development
Division) / Project Period: under
planning / Earning Point of Time:
not yet available
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Inc. 
Dongcheon
Housing Complex Project
Dongchun District Housing Complex Construction Work
