East Asia, Suju Competitiveness 'UP'... Accelerating Construction Market Strategy

Participation in the Construction of the 'New Gwanghwamun Development Project' Shows Annual Increase in Construction Companies' Capability Evaluations

CI of 'Dongyang,' a subsidiary of Yujin Group.
[Photo by Yujin Group]

[Asia Economy Reporter Kim Jong-hwa] Dongyang, a subsidiary of Eugene Group, announced on the 19th that it will participate in the 'New Gwanghwamun Plaza Development Project.' This project aims to integrate Sejong-daero in Seoul, which is divided east and west, and transform the vehicle-centered urban structure into a plaza where citizens can rest and walk comfortably.

Currently, the west side road of the plaza near the Sejong Center for the Performing Arts will be incorporated into the plaza to expand the pedestrian walkway. On the opposite side, the east side road of the plaza in front of the U.S. Embassy will be widened to 7 to 9 lanes allowing two-way traffic.

Dongyang will be responsible for road maintenance in the area on the east side of Gwanghwamun Plaza, including Kyobo Building, KT Gwanghwamun Branch, U.S. Embassy, and the Uijeongbu site (Open Citizens' Yard), aiming for completion in early next year.

Based on its extensive construction experience, including this project, Dongyang has shown an upward trend in the annual construction company capability evaluation announced by the Ministry of Land, Infrastructure and Transport. This evaluation comprehensively assesses construction performance, management status, technical ability, and credibility to help clients select appropriate construction companies nationwide.

Dongyang ranked 244th in civil engineering and architecture in 2017 but achieved a remarkable rise of 123 places over the past four years, reaching 176th in 2018, 133rd in 2019, and 121st in 2020. In the industrial environmental facilities sector, it rose 18 places from 58th last year to 40th this year, enhancing its competitiveness in securing orders.

Last month, Dongyang won the civil engineering contract for electrical supply facilities (substation) to supply demand power and relieve overload at nearby substations following the development of the Godeok Internationalization Planning District in Pyeongtaek, Gyeonggi Province, commissioned by Korea Electric Power Corporation. This month, it is preparing to sign contracts for the multipurpose sports facility construction in Geumchon, Paju, Gyeonggi Province, and the sewage pipeline installation project in the Ugok Dapgok (Bongsan) district of Goryeong County, North Gyeongsang Province, continuing its steady order acquisition.

In the plant business, KG ETS commissioned the 'STOKER incinerator & waste storage warehouse installation project,' and earlier this year, Dongyang was entrusted with the construction of the 80,000-ton linear warehouse No. 2 commissioned by Kumho T&L, gaining recognition for its construction capabilities.

Dongyang is also expanding its market in the rotating machinery business. It supplies fans not only domestically but also internationally to PT Rekayasa Industri, an Indonesian industrial engineering company; LENTJES, a German boiler manufacturer; and BHI, a domestic manufacturer supplying boilers to Indonesia. As a result, it has achieved over 400 orders up to last month this year, demonstrating its technological prowess and competitiveness overseas as well.

A Dongyang official stated, "The achievement is significant as it was accomplished amid fierce order competition due to the construction market contraction caused by the COVID-19 pandemic," adding, "We plan to increase order achievements by focusing our capabilities across all construction sectors based on our abundant construction capacity and technical skills."

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