Daewoo Shipbuilding & Marine Engineering Construction "Confirmed Additional Order of 88.4 Billion Won in Sacheon Region After Winning 184.6 Billion Won"

[Asia Economy Reporter Jang Hyowon] Daewoo Shipbuilding & Marine Engineering Construction, a subsidiary of Korea Technology, a KOSDAQ-listed company, announced that following the successful order of 184.6 billion KRW in the Songji and Donggeum-dong areas of Sacheon, an order worth approximately 88.4 billion KRW in Sacheon Yesu 2 District has been confirmed.

The confirmed project involves the construction of eight apartment buildings worth 88.4 billion KRW at 817-7 Yesu-ri, Cheongdong-myeon, Sacheon-si, Gyeongsangnam-do. It is a highly preferred location among demanders as a new residential belt in the Sacheon area.

The company has already secured two apartment construction projects in the Sacheon area. In November 2020, it won a 115.5 billion KRW project to build eight 25-story apartment buildings in the Songji-ri area of Yonghyeon-myeon, and recently secured a 69.1 billion KRW project to build two 35-story apartment buildings in Donggeum-dong.

Baek Woon-geol, Head of Business Division (Vice President) at Daewoo Shipbuilding & Marine Engineering Construction, said, “The order for the new apartment construction project of 511 units worth 88.4 billion KRW in Sacheon Yesu 2 District has been confirmed,” adding, “This is the third order secured in Sacheon-si, Gyeongsangnam-do in the past six months.”

With this additional order, Daewoo Shipbuilding & Marine Engineering Construction has succeeded in securing 273 billion KRW worth of orders in Sacheon alone over the past six months, setting a record for 'single region, shortest period, highest amount' in its history.

Regarding the secret to success in Sacheon, Vice President Baek said, “Daewoo Shipbuilding & Marine Engineering Construction’s Elcrew brand has a high brand image, forming the highest transaction prices among apartments in the Sacheon area, which is advantageous for securing construction orders,” and added, “With a three-level upgrade in credit rating, it has acquired the capability to undertake sole responsibility for construction completion with 14 domestic trust companies, achieving the order-winning ability of a top-tier construction company. Recently, the number of order requests has more than doubled, and all employees in the sales headquarters are very busy.”

He also said, “Elcrew apartments have started to gain popularity among residents for their sophisticated interiors, and when sold, they record a subscription rate exceeding 200%, even outside the metropolitan area, setting a record for complete sales,” adding, “We are confident in achieving this year’s new order target of 1.8 trillion KRW and are considering challenging 2 trillion KRW in orders.”

The company plans to expand the strong order momentum from the Yeongnam region to the metropolitan area including Seoul, sparking a nationwide wave of orders. In particular, it intends to actively incorporate clean management led by the Korea Technology-Daewoo Shipbuilding & Marine Engineering Construction ESG Management Committee (Chairman Moon Gang-bae) as a driving force to revitalize orders.

Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction recently improved its image through stable finances by obtaining a BBB+ credit rating, three levels higher than its previous rating, in a recent credit rating evaluation.

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