Ipark Hyundai Development (294870) raised its 30% share of the Gwangmyeong District 11R redevelopment contract to ₩399.29bn, the company said in a DART filing on Wednesday.
The prior amount was ₩394.63bn. The amendment added ₩4.66bn to Ipark's share. The value excludes value-added tax and covers Ipark's portion of the construction work.
The project will build 4,291 apartments and related facilities in 25 towers in Gwangmyeong, Gyeonggi. Work is scheduled from August 8, 2025 through June 7, 2029. Payments are tied to apartment sales.
The revised amount equals 9.6% of Ipark's FY2025 revenue, using the financials on this site.
Parent company HDC Holdings (012630) filed the same subsidiary event. Ipark said permits and contract terms may still change the project's value or schedule.
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| Symbol | Last Price |
|---|---|
| 294870Ipark Hyundai Development Company | ₩23,550 +1.5% |
| 012630HDC Holdings Co., Ltd. | ₩24,700 +5.8% |