Jungheung Construction Secures 1.355 Trillion KRW in Maintenance Projects Last Year... Ranked 7th Among Domestic Construction Companies

[Asia Economy Reporter Choi Dong-hyun] Among the subsidiaries of the Jungheung Construction Group, Jungheung Togeon ranked 7th in urban redevelopment project performance last year.

According to the construction industry on the 4th, a total of nine construction companies secured orders worth more than 1 trillion KRW in domestic urban redevelopment projects last year. Among them, Jungheung Togeon's order amount was 1.355 trillion KRW, ranking 7th.

This achievement by Jungheung Togeon is significant as it was accomplished amid a sluggish construction market due to the government's strengthened housing regulations and the impact of the novel coronavirus disease (COVID-19). According to data from the Korea Real Estate Board, as of October last year, nationwide housing permits totaled 326,237 units. This is 27,735 units (7.8%) less than the 353,972 units recorded in the same period the previous year.

Looking in detail at Jungheung Togeon's business performance this year: ▲Mokpo Seosan Ongeum 1,007 units ▲Busan Hyoseong Reconstruction 221 units ▲Cheonan Cultural District 833 units ▲Seoul Bongcheon 2 District 254 units ▲Daejeon Seonhwa 1 District 1,828 units ▲Seoul Gilhun Apartment 220 units ▲Gumi Songnim Apartment 249 units ▲Changwon Sangnam Sanho District Redevelopment and Urban Environment Maintenance Project 3,427 units ▲Changwon Masan Banwol District Housing Redevelopment 1,954 units ▲Busan Namilheung-a Street Housing Maintenance Project 280 units, etc.

Jungheung Togeon established its Urban Redevelopment Project Team in 2015 and recorded approximately 3.9 trillion KRW in orders over the past five years. Additionally, it surpassed its 2020 order target of 1 trillion KRW in early November, achieving a total order amount of 5 trillion KRW.

A Jungheung Construction official said, “Despite the challenging circumstances this year, we were able to show good results in major regions nationwide through diversified strategies. Going forward, we will actively pursue urban redevelopment project orders in Seoul, the metropolitan area, and major cities across the country to establish ourselves as a leader in this field.”

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