- On the 14th, Hyundai Development Company's headquarters held an MOU regarding technical consultation for the Hwajeong I-Park rebuilding project with LERA.

- CEO Choi Ik-hoon stated, "We will make every effort to transform it into the finest luxury complex in Gwangju."

 

Hyundai Development Company (CEO Choi Ik-hoon) recently signed a memorandum of understanding for consulting on the rebuilding technology of Hwajeong I-Park with LERA Consulting Structural Engineers (hereinafter referred to as LERA) at its Yongsan headquarters.

During the event held on the 14th, CEO Choi Ik-hoon and key members from LERA, including William J. Faschan, Benjamin M. Cornelius, and President Jang Seok-kwon, gathered to discuss collaboration on matters related to the stable dismantling and technical consultation for the rebuilding of Hwajeong I-Park.

 

LERA has extensive experience in forensic consulting, including investigations and evaluations related to the collapse of the Champlain Tower in Miami, Florida last year. The company has also been involved in projects such as the World Trade Center in New York, the Bank of China in Hong Kong, the Shanghai World Finance Center in China, KLCC in Malaysia, as well as domestic projects like Lotte World Tower and Hyundai GBC. LERA will be responsible for providing technical consulting services for the demolition and rebuilding engineering of Hwajeong I-Park.

 

Following the signing of the memorandum of understanding, representatives from Hyundai Development Company and LERA visited the Hwajeongdong site in Gwangju's Seo-gu and inspected the current status of external visible mock-ups. During this visit, an Hyundai Development Company representative stated, "We will make every effort to ensure a safe dismantling process and rebuild Hwajeong I-Park into the finest luxury complex in Gwangju."

 

For the rebuilding of Hwajeong I-Park, Hyundai Development Company has formed a dedicated team, including external experts, and commenced the exterior wall dismantling of Building 201, which was considered unstable, on July 6th. Currently, they are working on developing optimized construction methods and undergoing permit procedures for the overall demolition and rebuilding. Furthermore, Hyundai Development Company has been strengthening its organizational structure by hiring external structural experts and safety management professionals following the appointment of a Chief Safety Officer (CSO) in February. They aim to enhance safety, quality, and technological competitiveness, establish a proactive accident prevention system, and operate a comprehensive CCTV control center.

In addition, in August, to revamp safety, quality, and technological competitiveness, Hyundai Development Company established an Innovative Construction Team headed by Professor Park Hong-geun from Seoul National University, a prominent authority in domestic structural and quality fields. This team aims to objectively validate and enhance the safety and quality systems of construction and CSO organizations and innovate construction management approaches on-site, thereby increasing competitiveness.

 

On the 14th, CEO Choi Ik-hoon of Hyundai Development Company and William J. Faschan, a partner at LERA, signed the memorandum of understanding for consulting on the rebuilding technology of Hwajeong I-Park at the Yongsan headquarters of Hyundai Development Company and took a commemorative photo.