Daewoo E&C Accelerates Entry into Remodeling Market... Establishes Dedicated Team

Annual Order Target of 500 Billion Won

Daewoo E&C holds the title of completing the first wall-structure apartment remodeling in Korea by remodeling the 'Walkerhill Ilsin Apartment (now Walkerhill Prugio)' in Gwangjin-gu, Seoul, in 2013. The photo shows Walkerhill Prugio.

Daewoo E&C has officially entered the remodeling market by bidding for remodeling projects.

On the 1st of last month, Daewoo E&C formed a consortium with Ssangyong E&C, POSCO E&C, and Hyundai Engineering to participate in the bid for the 'Garak Ssangyong 1st Apartment Remodeling Project,' located in Songpa-gu with approximately 2,000 households. This is Daewoo E&C's first remodeling project bid in about 12 years since 2009.

Daewoo E&C had been passive in remodeling projects due to the boom in redevelopment and reconstruction markets and regulations related to remodeling.

However, with the recent increase in mid-rise aging apartments, the remodeling market is expanding, and related regulations are expected to be relaxed. In response to these market changes, Daewoo E&C formed a dedicated team to actively participate in remodeling projects.

Last month, Daewoo E&C established a 'Remodeling Business Team' within the Urban Maintenance Business Office of the Housing Construction Division, completing preparations for entering the remodeling business.

The Remodeling Business Team is composed of three main parts: ▲ Business Part ▲ Technology & Estimation Part ▲ Design & Product Part, with a total of 17 experts assigned across various fields.

This team sets the operational standards for project promotion, including design, technology, construction methods, and estimation. Additionally, it oversees all aspects of remodeling projects, from reviewing related laws and policies to developing new products.

Going forward, Daewoo E&C plans to continuously secure high-quality projects, starting with the Garak Ssangyong 1st Apartment Remodeling Project, which it recently bid on. The company aims to win remodeling projects worth 300 to 500 billion KRW annually, with the potential for further expansion depending on market conditions.

A Daewoo E&C representative stated, "Based on our past experience in completing remodeling apartments, we will focus our capabilities on improving construction technology and developing design products to enhance the profitability of remodeling projects."

Meanwhile, Daewoo E&C is one of the few construction companies in Korea with a track record in apartment remodeling and has experience in remodeling various buildings such as hotels, office buildings, and commercial facilities. In 2013, it remodeled the 'Walkerhill Ilsin Apartment (currently Walkerhill Prugio)' in Gwangjin-gu, holding the title of Korea's first remodeling completion of a wall-structure apartment.

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