Dongyang Wins Dormitory Academy Construction Contract Worth 57.2 Billion KRW

Contract Signed for New Dormitory Construction with Megastudy Education

Perspective view of the Megastudy boarding academy to be built in Yongin, Gyeonggi-do.
[Photo by Yujin Group]

[Asia Economy Reporter Kim Jong-hwa] Dongyang, a subsidiary of Eugene Group, has won a contract for a dormitory academy new construction project worth 57.2 billion KRW. Dongyang announced on the 27th that it signed a contract with Megastudy Education for the dormitory academy new construction project.

The Megastudy dormitory academy project that Dongyang won this time is a project to build a building with a site area of 29,460㎡ and a total floor area of 35,600㎡, consisting of one basement floor and four above-ground floors. It will be composed of five dormitory buildings with a total of 503 rooms and a lecture building with 43 rooms.

The dormitory academy, scheduled to be built in the mountainous area of Saam-ri, Wonsam-myeon, Cheoin-gu, Yongin-si, Gyeonggi-do, is planned to start construction next month. The construction period is approximately 18 months from the start date.

Dongyang has been steadily securing contracts amid fierce competition for orders due to the reduced construction workload caused by the prolonged COVID-19 pandemic.

Starting with participation as a consortium in the civil engineering work of the ‘National Assembly Road Underground Road and Upper Park Construction (Phase 2) Section 1’ project worth about 120 billion KRW earlier this year, Dongyang has won project contracts in construction and plant sectors such as Goyang Samsong social housing project, Donghae Line electrification Cheongha substation, and Dongkuk Steel Busan plant SCR.

A Dongyang official said, "We are securing orders through active sales activities despite the difficult situation caused by COVID-19," and added, "We will continue to make efforts to secure new orders in the future."

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