Hyundai Engineering & Construction (KRX:000720) was selected as the preferred negotiation bidder for the redevelopment project of Mok-dong Apartment Complex 10, according to a Wednesday filing with the Korea Exchange.
The contract is valued at 2.6 trillion won.
The process for selecting the contractor will be carried out at a general meeting of the association members in the future.
Shares of Hyundai Engineering & Construction jumped nearly 8% at market close.