Daelim Construction Changes Company Name to DL Construction

[Asia Economy Reporter Onyu Lim] Daelim Construction has changed its name to DL Construction. On the 25th, Daelim Construction held a shareholders' meeting at the Yeouido Federation of Korean Industries Conference Center and announced on the 26th that it had passed a resolution to change its name to DL Construction.

With the launch of DL Group as a holding company, the group CI has been revamped, and all major affiliates, including the holding company DL Holdings, the construction company DL E&C, and the petrochemical company DL Chemical, have incorporated 'DL' in their names.

Namchang Cho, CEO of DL Construction, emphasized, "To actively respond to external environmental changes this year, we aim to transform our business structure into a developer, expand market share to generate stable profits, and enhance execution capabilities for portfolio diversification as a 'comprehensive solution provider for real estate development.'"

In addition, to transition to a developer business structure, a Development Business Division was newly established to strengthen development capabilities from land acquisition to sales. Among these efforts, the goal is to achieve a 25% market share in the logistics business and secure 1.1 trillion KRW out of the planned 3 trillion KRW in orders through development projects.

Meanwhile, DL Construction was formed on July 1 last year through the merger of Samho and Goryeo Development. Last year, sales increased by 35.5% compared to 2019, reaching 1.7346 trillion KRW, and operating profit rose by 42.2% to 203.4 billion KRW. The sales figure excludes Goryeo Development's first-half performance; including it, sales are expected to exceed approximately 2 trillion KRW. Notably, DL Construction distinguished itself in the maintenance business sector by joining the 1 trillion KRW maintenance business club just five months after its launch last year, and it aims to strengthen its position in the medium-to-large markets in Gyeonggi Province and other regions, targeting a top 7 ranking in urban maintenance.

A DL Construction official stated, "We will actively pursue orders in housing, urban maintenance, logistics, hotels, and secure developer capabilities for diversified orders to discover stable projects."

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