16-07-2025
Daewoo E&C sets sights on Gaepo for latest upscale Summit project
South Korean builder Daewoo Engineering & Construction is poised to bring its luxury residential brand 'The Summit' to Gaepo, southern Seoul, through the highly anticipated Gaepo Useong Seventh Apartment redevelopment project.
Known for constructing residential landmarks across Korea, Daewoo E&C's high-end apartments have consistently set new standards in urban living.
Daewoo E&C's Summit journey began with the launch of the Yongsan Prugio Summit in 2014, which introduced advanced design features and premium finishes.
This project also stood out for the unofficial celebrity endorsement it unexpectedly received.
The complex gained international attention when Blackpink's Rose was revealed to be a resident, following the viral popularity of her solo track, 'APT,' which sparked curiosity about Korean high-rise living.
Daewoo E&C's signature approach was further solidified with the Seocho Prugio Summit, a reconstruction of the old Samho First Apartment in Seocho, southern Seoul.
The apartment was the first in Korea to incorporate a "sky community," a bridge between towers housing shared spaces like a book cafe and fitness center.
Unlike conventional penthouse strategies aimed at maximizing profit, Daewoo E&C installed community facilities on the top floor, offering panoramic views of Gangnam.
Another landmark was the Gwacheon Prugio Summit, rebuilt from the former Gwacheon Jugong Complex 1.
The development introduced large-scale amenities such as a 9,300-square-meter main community space with an indoor pool, sauna and luxury Italian furniture brand Febal Casa in the sky lounge.
The project surpassed Gangnam's top-tier apartments, earning the phrase 'Gwacheon over Gangnam,' and ultimately became one of Gyeonggi Province's most sought-after addresses.
Daewoo E&C implemented a post-sale strategy by waiting until 60 percent of construction was complete before selling units.
The strategy was to maximize return for cooperative members, resulting in an average return of nearly 200 million won ($144,000) per household.
With this success, the company introduced Blanc Summit 74 in the Busan North Port redevelopment zone in 2023 and sold all the project's apartments and officetels within months, despite challenging market conditions.
Now, Daewoo E&C is setting its sights on Gaepo Useong Seventh Apartment in the Gaepo redevelopment area of southern Seoul.
With a proposal featuring premium custom layouts, private elevators for each unit line, an 80-meter-long sky bridge ㅡ the longest in the area ㅡ and an automated food waste disposal system, the company is positioning itself to deliver the next residential landmark.
Daewoo E&C has also offered favorable financial terms, including a CD-based interest rate with zero spread on essential project costs.
'As Korea's top provider of residential products in the private sector, we are fully prepared to offer a masterpiece through years of construction expertise and distinguished designs,' a Daewoo E&C spokesperson said.
'Our goal is not just to build homes but to drive the success of the cooperative's project with optimal financial strategies and premium-quality living solutions.'
