Hanchang Biotech Secures Additional PM Contract for Dongducheon Redevelopment

[Asia Economy Reporter Hyungsoo Park] Hanchang Biotech has begun expanding its orders for real estate implementation and development project total management (PM) business.

Hanchang Biotech announced on the 18th that it signed a 1 billion KRW urban development PM service contract with KY Co., Ltd.

The project covers a total area of 30,000 pyeong for apartment complexes and neighborhood living facilities construction design and PM services in San 72, Jihaeng-dong, Dongducheon-si, Gyeonggi-do. The service period is until June 30, 2023.

Hanchang Biotech is recently promoting new businesses such as bio food waste processors, PM, and online commerce, which are ESG projects. Collaborating with Hanchang, which has experience and know-how in all processes from permits to completion, it is achieving concrete results in the PM business. According to last year's disclosure data, it secured PM business orders worth 2.3 billion KRW.

Hanchang Biotech supplied the microorganism-based bio food waste processor ‘Mums’ to Aramark, one of the world's top three food service companies. It is expected to achieve additional results in the ESG business sector in the first half of this year.

Hanchang Biotech turned profitable by achieving an individual operating profit of 1.7 billion KRW based on the pre-audit financial statements at the beginning of last month. The new PM business and distribution of food waste processors led to improved performance.

A company official said, "We were included in the Hanchang group through an extraordinary general meeting of shareholders in September last year," adding, "We are maximizing synergy effects with the parent company Hanchang in the PM business sector and others."

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