[From the Field]10 Years of 'THE H'

(Seoul=Yonhap Infomax) Myung Sub Byun – On the 6th, Hyundai Engineering & Construction Co., Ltd. unveiled its new remodeling brand, 'The New House (THE NEW HOUSE)', designed to upgrade apartment complexes without requiring residents to relocate. This marks a decade since the launch of its high-end brand 'THE H' in 2015.

Ten years ago, Hyundai E&C initiated its push into the reconstruction market with 'THE H'. Now, the company is embarking on a new phase, positioning its brand as a symbol of premium quality in South Korea's residential sector.

The first project to feature the new brand, as revealed to the media, is the Hillstate 2nd Complex in Samseong-dong. This complex, rebuilt from the former Yeongdong Chakan Apartments, is described by Hyundai E&C as an iconic landmark among Gangnam's apartment clusters.

Hyundai E&C makes no secret that its strategy is to further entrench 'THE H' as a premium brand in the Gangnam area. In a promotional video lasting over 15 minutes, the company highlighted the introduction of advanced systems and prominently showcased the entrance gate emblazoned with 'THE H'.

Given the trend among new apartment complexes to emphasize their entrance gates as a statement of presence, Hyundai E&C recognizes that the Samseong-dong location offers a natural platform to promote 'THE H' in the heart of Gangnam.

This move is also seen as a counter to Samsung C&T Corp. and GS Engineering & Construction Corp., which have established strong brand recognition in core Gangnam districts with projects such as 'One Bailey' and 'Banpo Xi'.

At the time of the brand's inception, Hyundai E&C set a policy to apply 'THE H' only to high-end apartments with pre-sale prices exceeding 35 million won ($25,000) per 3.3 square meters (one pyeong). With price increases over the past decade, the current threshold is around 80 million won ($57,000) per pyeong, even under South Korea's price cap system.

Only select areas—Gangnam-gu, Seocho-gu, Hannam-dong, and Yeouido's reconstruction zones—meet these criteria.

Since launching the brand, Hyundai E&C has successfully implemented its premium strategy in reconstruction projects centered around Gaepo-dong, Gangnam-gu, leading to a series of contract wins. The proliferation of 'THE H' in new Gaepo-dong complexes underscores the effectiveness of this high-end approach.

Hyundai E&C is currently remodeling the Jamwon-dong Lotte Castle 1st Apartment, marking the transition from Lotte Construction's 'Lotte Castle' brand to Hyundai E&C's 'THE H'. In Jamwon-dong, over 10 complexes, including 'Jamwon Donga', are preparing for remodeling.

The intensifying competition among construction firms to establish brand prestige is expected to escalate further with Hyundai E&C's entry into the remodeling market. (Industry Desk, Myung Sub Byun)

msbyun@yna.co.kr

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