Rendering of the Hillstate Seonam Lake Park project in Yaeum-dong, Nam-gu, Ulsan (Hyundai Engineering & Construction) Hyundai Engineering & Construction said Friday it has begun sales for Hillstate Seonam Lake Park, a large-scale residential complex in Yaeum-dong, Nam-gu, Ulsan.The project comprises 753 units, including 631 apartments and 122 officetels, in towers rising to 44 stories. To ease buyers' upfront costs, Hyundai E&C is offering a reduced contract deposit of 5 percent, with the initial payment set at 5 million won ($3,330).The complex is located next to Seonam Lake Park and within walking distance of Yaeum Elementary School. It also offers access to major industrial hubs in Ulsan, including facilities operated by SK Innovation, S-Oil, Hyundai Motor and HD Hyundai Heavy Industries.The development is expected to benefit from the planned Ulsan Tram Line 2 and a broader residential project nearby that will add more than 2,000 housing units.The launch comes as Ulsan's housing market continues to strengthen. According to the Korea Real Estate Board, apartment prices in the city rose 2.1 percent in 2025, the largest increase among major metropolitan cities outside the Seoul capital region. The upward momentum has carried into this year, with home prices up 1.68 percent through early April, ranking second nationwide after Seoul.Market conditions have also tightened. Unsold housing inventory in Ulsan dropped 63.2 percent on-year to 1,402 units in January, while apartment transactions across the Busan-Ulsan-South Gyeongsang Province region rose 20.7 percent from a year earlier to 7,656 units in February.The model house is located in Dal-dong, Nam-gu, Ulsan. Residents are scheduled to move in from February 2028.