"Urban Maintenance 4.7383 Trillion KRW" Hyundai Construction Achieves Record High Since Establishment
[Asia Economy Reporter Yuri Kim] Hyundai Engineering & Construction achieved its highest-ever performance since its founding by recording 4.7383 trillion KRW in orders for urban maintenance projects this year.
On the 21st, Hyundai Engineering & Construction announced that it set a record for the largest order volume ever by securing the construction rights for the remodeling maintenance project of Hyundai Seongwoo 8 Complex in Suji-gu, Yongin-si, Gyeonggi Province (a consortium of Hyundai Engineering & Construction and POSCO Engineering & Construction) on the 19th. The order amount for this complex is 150.5 billion KRW.
With this order, Hyundai Engineering & Construction recorded a cumulative order amount of 4.7383 trillion KRW this year. After achieving its highest performance of 4.6468 trillion KRW in 2017 with orders such as Banpo Jugong Complex 1 (Districts 1, 2, and 4), it has rewritten the record after three years.
In June, it consecutively secured major projects including the 'Hannam 3 District' in Hannam-dong 686 area, Yongsan-gu, Seoul, known as the 'largest redevelopment project since the founding of Dangun.' The construction amount for this project alone reaches 1.7377 trillion KRW. Hyundai Engineering & Construction enhanced its competitiveness by expanding the application range of its premium brand 'The H' from Gangnam in Seoul to the Gangbuk area.
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Hyundai Engineering & Construction explained, "Including the recent order for the remodeling of Hyundai Seongwoo 8 Complex in Yongin, we have accumulated 15 trillion KRW in orders from urban maintenance projects alone, and as of the end of the third quarter, we have secured a total order backlog exceeding 65 trillion KRW domestically and internationally, equivalent to more than 3.8 years of work. We are achieving stable growth with a solid financial structure, maintaining the highest credit rating (AA-) in the industry."
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