The Apgujeong Hyundai Apartments, completed in 1976, are celebrating their 50th anniversary this year. Once a symbol of the new apartment era in Gangnam, Apgujeong Hyundai is now preparing for a large-scale reconstruction to transform into a future residential city for the 21st century. Aju Business Daily is focusing on the 50-year history of Apgujeong Hyundai, the current status of the reconstruction efforts, project costs, public contributions, and the conditions for future apartments.
Along the Han River in Apgujeong-dong, Gangnam-gu, Seoul, long and low-rise apartments line the area. While today’s standards highlight their low height, insufficient parking, and aging plumbing, the spacious gaps between buildings and the decades-old trees that fill the complex stand out. Half a century ago, this was the newest residential area in Seoul. The first and second phases of the Apgujeong Hyundai Apartments, completed in 1976, are now celebrating their 50th anniversary.
The transformation of Apgujeong began with the development of Gangnam. The area was incorporated into Seoul in 1963, and from the mid-1960s, land reclamation along the Han River and the development of the Yeongdong area were underway. At that time, the center of life in Seoul was in the northern part of the city. Apgujeong was located far from the city center and lacked transportation and essential facilities. However, with the development of transportation networks, including the Hannam Bridge, and policies promoting Gangnam, the foundation was laid for creating a large residential area south of the Han River.
Hyundai Construction began the first phase of the Apgujeong Hyundai project in April 1975. The first and second phases were completed the following year. On August 21, 1976, the government designated Apgujeong-dong and Cheongdam-dong as the Apgujeong Apartment District, and in March 1977, the basic development plan was approved. The construction of the apartments began before the urban planning system was established. Subsequently, Korea Urban Development, a housing development subsidiary of the Hyundai Group, took over the project and expanded the complex. Korea Urban Development later evolved into Hyundai Industrial Development, now known as HDC Hyundai Industrial Development.
The Apgujeong Hyundai Apartments were not built all at once. They were named according to the phases and sale periods: first, second, and third phases. Starting with the first and second phases in 1976, several construction phases followed, culminating in the 14th phase in 1987, forming a massive complex of Hyundai apartments over about a decade. Currently, the remnants of this development include Hyundai apartments from the first to seventh, tenth, thirteenth, and fourteenth phases in reconstruction zone 3, as well as the ninth, eleventh, and twelfth phases in zone 2, and the eighth phase in zone 4.
The initial launch was not smooth. In the early days of occupancy, a lack of transportation and commercial facilities led to unsold units. However, as the government continued to develop Gangnam and expand schools, roads, and commercial areas, the situation improved. The spacious layouts, elevators, central heating, and the riverside location offered a new lifestyle that Seoul residents had not experienced before. With the establishment of department stores like Hyundai Department Store and Galleria Department Store, Apgujeong grew into a center of consumption and culture, elevating the status of the apartments.
Apgujeong Hyundai has not merely remained a symbol of expensive housing. It became a representation of a time when apartments were preferred over single-family homes, reflecting both living standards and asset values. The success of Gangnam development, along with controversies over preferential sales and the concentration of education and wealth, are intertwined in its history. The 50 years of Apgujeong Hyundai illustrate both the bright and dark sides of Seoul's residential history.
What was once a futuristic apartment complex has now aged. However, Apgujeong is on the brink of another transformation. Among the six special planning zones, construction companies have been selected for zones 2 to 5, and zone 2 has conditionally passed the integrated review by the Seoul city government. If Apgujeong opened the era of living in apartments in 1976, the new Apgujeong may become a testbed for a future city that integrates AI, robotics, care, energy, and public access to the Han River.
* This article has been translated by AI.
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