Korea Technology Subsidiary Wins 115.5 Billion KRW Contract for Sacheon Songji Regional Housing Association New Construction Project

Bird's-eye view of the Sacheon Songji Regional Housing Association new construction project.

[Asia Economy Reporter Jang Hyowon] Daewoo Shipbuilding & Marine Engineering Construction (Chairman Kim Yongbin) is set to officially begin preparations for the groundbreaking of the Sacheon Songji Regional Housing Association new construction project, valued at 115.5 billion KRW.

KOSDAQ-listed company Korea Technology (CEO Shin Yonggu, Lee Byunggil) announced on the 20th that its subsidiary, Daewoo Shipbuilding & Marine Engineering Construction, has signed a large-scale construction contract to build 8 apartment buildings with 750 units, ranging from 2 basement floors to 25 above-ground floors, on San 25, Songji-ri, Yonghyeon-myeon, Sacheon-si, Gyeongnam.

The project has been attracting attention even before pre-sale due to its designation as a "development zone." It is confirmed as an aeronautical maintenance (MRO) industrial complex, expected to revitalize the local economy and create jobs. Additionally, the Korea Aerospace Industries (KAI) center, dedicated to space business, is planned to be established, which is anticipated to further increase future value.

Living infrastructure will also be significantly enriched. Within a 1.5 km radius, public institutions such as Sacheon City Hall, Health Center, Tax Office, and Changwon District Court are evenly distributed. Furthermore, the Sacheon IC complex distribution commercial district urban development project near the site has received integrated development plan approval and implementation plan authorization, so neighborhood parks, large outlets, general hospitals, and hotels are also expected to be added.

There is also a premium on convenient transportation networks. Located 5 minutes from Sacheon Industrial Complex, this residential area offers close proximity to workplaces and residences, with quick access via National Road No. 3 to Samcheonpo Port, Sacheon Airport, Namhae Expressway, and Tongyeong-Daejeon Expressway.

A company official stated, "The Elkru apartments built by Daewoo Shipbuilding & Marine Engineering Construction in Sacheon, where we won the contract for 750 units this time, are trading at the highest prices among local apartments," adding, "The popularity of the Elkru brand in Sacheon is raising local residents' interest."

He continued, "Including this Sacheon Songji apartment construction contract, we signed a total of three contracts worth 171.2 billion KRW just last week," and added, "We expect that contracts at the level of large construction companies will continue to be signed until the end of the year."

Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction has been drawing attention by continuing a winning streak of orders, including a 14 billion KRW Bucheon street housing maintenance project, a 47.1 billion KRW Seongju Sweet M Elkru model house opening, a 41.7 billion KRW Busan Gijang-eup multi-family housing new construction, and now this 115.5 billion KRW Sacheon regional housing new construction project, revealing a blueprint to secure contracts every week until the end of the year.

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