Dongbu Construction Reports Increases in Both Sales and Operating Profit Last Year: "Targeting Gangnam Niche Market"

[Asia Economy Reporter Moon Jiwon] Last year, Dongbu Construction's sales and operating profit both showed significant increases.

Dongbu Construction announced on the 28th that its sales last year amounted to approximately 1.0979 trillion KRW, an increase of about 255.7 billion KRW compared to 2018.

Operating profit was about 56.5 billion KRW, up by approximately 25.4 billion KRW from 2018. Dongbu Construction explained, "Sales and operating profit have been continuously growing over the past three years."

This growth trend is analyzed to have been significantly driven by public construction and housing projects.

Following 2018, Dongbu Construction ranked second in order performance in the public construction sector last year as well. It participated in bids for the Gimpo-Paju Section 2, Munsan-Dorasan Section 2, and Yangpyeong-Icheon Section 4 projects (Korea Expressway Corporation) and succeeded in winning all of them.

In December last year, it was also selected as the qualified design contractor for the Wolgot-Pangyo Section 1 project (Korea Rail Network Authority), in which it participated as the lead contractor.

The housing business accounted for more than half of Dongbu Construction's order performance last year. Dongbu Construction secured construction rights for the reconstruction of Gwacheon and Banpo Centreville (Hyundai Apartment), as well as for the reconstruction of Sinseong Villa in Bangbae-dong, Seocho-gu.

Cooperation with Korea Land Trust also had a significant impact. Currently, Dongbu Construction is participating in Korea Land Trust development trust projects such as Busan Gamman District 1 (440.8 billion KRW), Dangjin Sucheong District 1 (466 billion KRW), and Namak New Town Centreville (208.9 billion KRW).

A Dongbu Construction official stated, "Among mid-sized construction companies, we are almost the only one with experience constructing apartments in major Gangnam areas such as Daechi, Nonhyeon, Ichon, and Bangbae," adding, "We will target the Gangnam niche market through differentiated design, upgraded options, and our premium brand Asterium."

This content was produced with the assistance of AI translation services.