[4K] Reputation of Luxury Apartments Suffers: Haeundae I'Park in Busan, Korea

More than half of Koreans live in apartments. Representative Korean companies such as Samsung, Hyundai, and GS are building apartments under brands such as Raemian, Hillstate, and Xi.
Hyundai Development Company, a former Hyundai Group, is the ninth largest construction company in Korea that built I-Park in Samseong-dong. Recently, the company's I'Park brand was in crisis. This is because the 39-story apartment building that was being built in Gwangju collapsed. I'Park residents across the country are very concerned about whether their apartments are safe or whether house prices are falling.
The same goes for Haeundae I'Park that I'm showing you today. This is a luxury apartment in Marine City, Busan, consisting of a skyscraper with a sea view. It looks gorgeous and grand, but I wonder if it was built sturdy.
★Naver MAP: naver.me/IDB6dPpx
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#korea_apartment #ipark_apartment #busan_korea
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⭐️by "Yonhap News" January 13, 2022
“Signs of spreading the atmosphere of "replacement of construction contractors except for the name of the I-Park."It's going to be hard to win orders.”
Confidence in HDC Hyundai Development and the company's apartment brand "I-Park" is rapidly collapsing due to a series of major collapses in Gwangju.
Following the collapse of redevelopment and demolition work in Hakdong District 4 in Gwangju in June last year, distrust is mounting along with criticism of Hyundai Industrial Development, the construction company, as the outer wall of Gwangju's new apartment collapsed again in seven months.
According to the construction industry on the 13th, claims and movements to remove "i-park" from the complex are showing signs of spreading not only in Gwangju but also in the metropolitan area, centering on redevelopment and reconstruction associations and apartment complexes.
First of all, the reconstruction association of Unam Complex 3 in Buk-gu, Gwangju, officially notified that it would call in consortium players, including Hyundai Industrial Development, a contractor, to consider terminating the construction contract.
In addition, some members of "The H Firstier I-Park," which will be built through the reconstruction of Jugong Apartment in Gaepo Complex 1 in Gangnam-gu, Seoul, insisted that the brand name of the I-Park should be removed.
This is because the level of management and supervision cannot be trusted, and apartment prices may fall in the future.
As the controversy grew, the union sent an official letter demanding a special inspection of the construction site and a detailed safety diagnosis to the supervisory team composed of Hyundai Industrial Development and external companies.
Concerns are also growing in the redevelopment association of Sanggye District 1 in Nowon-gu, Seoul, the reconstruction association of Mia District 4 in Gangbuk-gu, and the reconstruction association of Miseong Apartment in Sillim-dong, Gwanak-gu.
However, these unions said it is still too early to consider canceling the construction contract. It means that it will respond by watching the future situation.
Hyundai Industrial Development raised 1.5 trillion won in orders in the urban maintenance sector last year. Most of them finished selecting construction companies last year and are about to sign contracts this year.
In the meantime, some observers say that Hyundai Industrial Development will change its company name and brand name in the future as trust in the company and brand has fallen.
An industry official said, "It is unlikely that Hyundai Industrial Development will succeed in winning orders for urban maintenance projects in the future in the current atmosphere," and predicted, "We will have no choice but to change the company name or brand name."
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[@walkingwithtamson]

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[@KK_Denovo_]

Wow. Nice building. Where is it? Thanks for the nice view and the video.

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[@Minerva_JJK]

I really like Busan, it's less crowded than Seoul and seems more relaxed. The mountains and the ocean it's beautiful 🤩
I am kinds scared of these very high skyscrapers 🏙 I live in a 7 story building and that's high enough for me.

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😯 ..Imagine ... when there's ..strong earthquake ....

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Don't worry hahaha!😅 All of these buildings are of course earthquake-resistant!😉

[@yoanrotinsulu2489]

I park, my apartment is the cheapest