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In relation to the collapse of a newly built apartment in Gwangju in January, Hyundai Development Company announced that it would demolish and rebuild the apartment complex.

It is expected to take nearly six years to be demolished and completed.



Reporter Han Sang-woo reports.



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Hyundai Development Company announced that it would demolish the entire Hwajeong I-Park complex in Gwangju four months after the collapse and rebuild it.



This is a reverse of the existing policy of dismantling only the building in which the accident occurred and judging the rest of the building after safety diagnosis.



Enlarging an image


[Mong-gyu Chung/Chairman of Hyundai Development Company: Hyundai Development Company will demolish all 8 buildings in Hwajeong-dong and build a new I-Park according to the request of prospective tenants.]



The government judged that the company was responsible for the insolvency, and the prospective tenants were also anxious. appealed and demanded a complete rebuild.



[I-Park occupants: Our residents are welcoming (full reconstruction), and there is no guarantee that only Building 201 (which collapsed) will collapse, so it is a building built with the same construction method and construction…

.]



The company predicted that it would cost 5 years and 10 months to move in and cost 375 billion won.



However, the construction cost is expected to exceed the previously set 270 billion won due to increased material and labor costs.



In addition, as the move-in has been delayed for six years, it is necessary to pay more than 100 million won for each house in compensation for delay and damages to about 800 people who are expected to move in.



In the end, the total cost could rise to 500 billion won, and it is interpreted that the company decided to bear this cost because of a sense of crisis that the company might close.



Following the 8-month suspension of business due to the Hakdong demolition site disaster in Gwangju, the accident resulted in the cancellation of registration, so a breakthrough was needed.



[Construction industry official: It was an inevitable choice for the company because the company's image and strong punishment are expected rather than the cost part of the company...

.]



However, as not only government disciplinary action but also police investigations to hold the headquarters accountable are continuing, the crisis of Hyundai Industrial Development is expected to continue for a while.



(Video coverage: Kang Dong-cheol, video editing: Choi Eun-jin)