[비즈한국] The bidding process for selecting a contractor for the Apgujeong District 5 reconstruction project, which had hit a snag due to a covert filming controversy, has resumed. With the association finalizing the comparison table for bid proposals from Hyundai E&C000720 and DL E&C375500, the competition for the Apgujeong District 5 contract, which was on the verge of collapse, is back on track. Both companies officially resumed their competition by co-signing an implementation agreement that outlines the project schedule and policies restricting preliminary promotional activities.
Competition Restarts While Maintaining Rivalry
According to the construction industry, the Apgujeong District 5 reconstruction association completed the comparison table for the bid proposals from Hyundai E&C and DL E&C on the 22nd. As both companies signed off on the comparison table, the contractor selection process, which had been suspended immediately after the bid deadline on the 10th due to the covert filming controversy, moved into the resumption phase. The association plans to submit the comparison table to the Gangnam-gu Office on the 23rd, hold a board meeting on the 24th, and distribute the proposal brochures to association members following a general assembly on the 6th of next month.
Both companies also co-signed an implementation agreement for the Apgujeong District 5 project on this day. The agreement includes provisions for conducting a survey of preferred apartment layouts for all members immediately after the contractor is selected and submitting the project for integrated review by the Seoul Metropolitan Government within the year in consultation with the association's designer. Additionally, it prohibits individual promotion and contact with members until the first joint information session; violations will result in legal and administrative consequences without room for objection.
The bidding process for the Apgujeong District 5 contractor faced a potential breakdown due to the covert filming controversy. Previously, Hyundai E&C and DL E&C participated in the Apgujeong District 5 bid, which closed on the 10th. During the subsequent process where the association and the two companies reviewed the proposal documents, a DL E&C employee was caught secretly filming the site in violation of association guidelines. While DL E&C immediately issued an apology, Hyundai E&C responded firmly by filing a police complaint against the employee.
The threat of the bid collapsing subsided somewhat after an authoritative interpretation was provided by the Gangnam-gu Office. In an official reply to the association's request for interpretation on the 20th, the Gangnam-gu Office stated, "The act of taking unauthorized photos of bid-related documents without following association guidelines is inappropriate," while also noting, "There are no clear criteria as to whether such an act constitutes grounds for invalidating a bid." It added, "The association should comprehensively review and decide whether to proceed with the bid and what measures to take against the companies."
Ultimately, the association chose to follow subsequent procedures while maintaining the competitive landscape rather than halting the bidding. Both companies also reaffirmed the project schedule and promotional standards by signing the implementation agreement. With the competition that had been shaken by the covert filming controversy now entering a stabilization phase, the contractor selection process for Apgujeong District 5 appears to be back on track.
Hyundai Emphasizes Future-Oriented Image vs. DL Highlights Bid Conditions
Both companies also released promotional videos for the Apgujeong District 5 contract on the 22nd, the same day they finished the comparison table. According to the videos, Hyundai E&C proposed 'Apgujeong Hyundai Galleria' as the new complex name, while DL E&C proposed 'Acro Apgujeong'. While DL E&C put its high-end brand 'Acro' at the forefront, Hyundai E&C chose 'Apgujeong Hyundai' instead of its high-end brand 'The H'. This is interpreted as an effort to inherit the historical significance of the nearby Apgujeong Hyundai Apartment complex.
Hyundai E&C included a blueprint of the complex reflecting its specialized features in its promotional video. The Galleria Department Store and autonomous vehicles are the key highlights. While incorporating 'Galleria' into the complex name, the company emphasized the movement path for residents traveling from the complex to the Galleria Department Store. Prior to the bid, Hyundai E&C joined hands with Hanwha to present a comprehensive development vision linking Apgujeong District 5, Galleria Department Store, and Apgujeong Rodeo Station. It further emphasized a future-oriented complex image by showing Hyundai Motor Group's autonomous mini-buses circulating through the complex.
DL E&C countered by highlighting specific bidding conditions in its promotional video. The video detailed conditions such as a construction cost of 11.39 million won per 3.3㎡, a construction period of 57 months, submission of a guaranteed completion certificate, fixed construction costs, a 150% LTV for moving expenses, up to 7 years of deferment for additional contributions, and 660 million won in commercial revenue per household. DL E&C emphasized, "There is no compromise before the greatness of the Apgujeong hierarchy being rebuilt," and declared, "Only the best completes that position."