Daewoo Shipbuilding & Marine Engineering Construction Achieves 1 Trillion Won Order Backlog... Consecutive Apartment Construction Orders

[Asia Economy Reporter Kum Boryeong] Daewoo Shipbuilding & Marine Engineering Construction has joined the 1 trillion KRW order backlog club by consecutively winning apartment construction contracts.

Korea Technology announced on the 1st that its subsidiary, Daewoo Shipbuilding & Marine Engineering Construction, has successfully reached an order backlog of 1 trillion KRW.

Daewoo Shipbuilding & Marine Engineering Construction secured an apartment contract worth approximately 110 billion KRW for regional housing in Sacheon, Gyeongnam on the 28th of last month, followed by winning a contract worth about 47.1 billion KRW for new apartment construction in Seongju, Gyeongbuk on the 29th.

Seo Boknam, CEO of Daewoo Shipbuilding & Marine Engineering Construction, said, "The apartments in Seongju, Gyeongbuk are expected to become the tallest branded apartment complex in the region. With this contract, we have joined the 1 trillion KRW order backlog club. I believe this is the result of all employees aggressively pursuing sales despite the COVID-19 pandemic."

In particular, there is analysis that focusing on winning contracts for small to medium-sized apartment complexes in provincial areas rather than the metropolitan area has proven to be an effective new sales strategy.

Synergy effects with the parent company, Korea Technology, are also anticipated. Korea Technology has been selected as the official distributor of Xiaomi in Korea and is launching new smartphones, raising expectations for sales growth this year. Korea Technology and Daewoo Shipbuilding & Marine Engineering Construction use consolidated financial statements.

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