Sambu Construction, Business Normalization and Sales Bright Outlook... Regaining the Prestige of 'Korea's First Construction Company'

[Asia Economy Reporter Jang Hyowon] Sambutogeon, which completed its rehabilitation process through a merger and acquisition (M&A) in October 2017, is spreading its wings as a 100-year company through business normalization.

In addition to its strengths in SOC projects such as highways, railroads, and ports, Sambutogeon is expanding its construction business, actively carrying out construction work for complex facilities at Juyop Station in Ilsan, multi-family housing such as Jumunjin, Gwangyang Madong, Namyangju Jinjeop Renaissance The Terrace, and industrial buildings like the Cheongryu Jisan Knowledge Industry Center in Namdong Industrial Complex, Incheon.

This year, the company plans to newly secure orders and sales for large-scale multi-family housing construction projects in Namyangju, Gyeonggi-do, general industrial complex development in Goseong, Gyeongnam, and large-scale multi-family housing projects in Cheonan and Asan, Chungnam, which is expected to significantly increase future sales volume.

The company has swiftly responded to the global economic crisis caused by the recent COVID-19 pandemic by implementing voluntary retirement and reaching a labor-management agreement to freeze wages, walking a path of coexistence different from the past through united strength.

Also, for the first time since its founding, it launched a TV commercial featuring the ‘Sambu Renaissance’ brand, focusing all efforts on enhancing corporate image, brand value, and maximizing sales activities.

Thanks to these active sales activities and cost reduction efforts, Sambutogeon succeeded in turning a net profit in 2018 and further expanded its profit margin last year, rapidly normalizing management and laying the foundation for a successful leap forward.

A Sambutogeon official said, “All executives and employees are dedicated to securing competitiveness and profitability, and we will do our best to restore the pride of being the first licensed construction company established in 1948 and to increase shareholder value.”

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