Yojin Construction Actively Pursues Business Diversification... Approaching 1 Trillion Won Order Target

[Asia Economy Reporter Moon Jiwon] Yojin Construction Industry is actively pursuing business diversification through hotel remodeling, new construction projects, and overseas development projects.

According to the industry on the 18th, Yojin Construction has recently been expanding hotel remodeling and new construction projects mainly in Seoul and Busan. The 'Mondrian Seoul Itaewon' in Yongsan-gu, Seoul, which the company remodeled, opened and started operations earlier this month. This hotel, remodeled from the former Capital Hotel, features a total of 296 rooms, banquet halls, indoor and outdoor swimming pools, and a rooftop bar. Yojin Construction aims to capture the demand for luxury hotels in Itaewon through the Mondrian Seoul Itaewon Hotel.

Last year, the company rebranded the 'Best Western Premier Guro' hotel in Guro-gu, Seoul, as 'Four Points by Sheraton Seoul Guro' and is currently operating it. Located in the heart of Guro Digital Complex, this hotel has been consistently popular among business customers and budget-conscious tourists.

Recently, Yojin Construction also won the contract for the new construction of the AVANI Hotel Site 1 in Gijang-gun, Busan. This hotel, located in the East Busan Osiria Tourist Complex, is planned to be built with a total floor area of 19,881㎡, consisting of 2 basement floors and 12 above-ground floors. The company is also pursuing contracts for Sites 2 and 3.

The company is also actively engaging in new businesses such as knowledge industry centers and overseas development projects. Following the recent contract win for the 'Pyeongtaek Godeok New Town Knowledge Industry Center' new construction project worth 110 billion KRW last month, it plans to launch a complex facility in Sinsa-dong, Gangnam-gu, Seoul, in November. Regarding overseas projects, since 2018, the company has established and operated a cement plant equipped with state-of-the-art facilities in the Thilawa Special Economic Zone in Yangon, Myanmar, investing 100 billion KRW.

A company official said, "Based on the experience and know-how accumulated over a long time in the construction sector, we are diversifying our business into residential, hotel, distribution, and overseas cement production," adding, "Through this, we have taken a step closer to our order target of 1 trillion KRW this year."

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