Daewon, the Beginning of Structural Growth

[Asia Economy Reporter Hyungsoo Park] Daewon, which focuses on housing construction, is expected to grow for more than three years after hitting bottom in its performance last year.

SK Securities estimated on the 6th that Daewon will achieve sales of 277.4 billion KRW and an operating profit of 13 billion KRW this year. This represents an increase of 32% and 290%, respectively, compared to last year.

Shin Seo-jeong, a researcher at SK Securities, explained, "Daewon is divided into the construction business division and the textile business division," adding, "As of the first quarter, the sales ratio is 85.3% for the construction business division, 7.3% for the textile business division, and 7.7% for others."

He continued, "The construction business division is the most important factor in estimating performance and is expected to grow through 2023 following this year."

He emphasized, "The order backlog is approximately 862 billion KRW as of the first quarter," adding, "which means they have work secured for three years."

Researcher Shin analyzed, "Since Daewon entered Vietnam in 2001, it has been actively promoting not only housing, residential-commercial complexes, and factories but also infrastructure projects, complex city development, and smart city projects," adding, "The construction business is expanding from the existing Ho Chi Minh City center to the entire country of Vietnam."

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