Dongyang Diversifies Business Area with Logistics Center Construction Contract Win

Bird's-eye view of the Chungbuk Eumseong Geumwang Technovalley Logistics Center contracted by Dongyang.
[Photo by Yujin Group]

[Asia Economy Reporter Kim Jong-hwa] Dongyang, a subsidiary of Eugene Group, has diversified its construction business by securing a logistics center construction project worth 146.3 billion KRW.

Dongyang recently won the contract for the construction of the 'Eumseong Geumwang Technovalley Logistics Center,' commissioned by Geumwang F1 Co., Ltd. This project involves building a logistics center with a total floor area of 118,341.84㎡, consisting of one basement floor and four above-ground floors, located in the Geumwang Technovalley Industrial Complex in Eumseong-gun, Chungbuk. The construction period is 21 months from the start date.

The Geumwang Technovalley Industrial Complex, where the logistics center will be built, is adjacent to the Jungbu Expressway and Pyeongtaek-Jecheon Expressway, positioning it as a logistics hub with competitiveness that covers not only the metropolitan area but the entire country.

Having successfully completed various projects in housing, civil engineering, and architecture over the past 67 years, Dongyang is accelerating its efforts to regain its former reputation as a 'construction powerhouse.'

Since exiting court receivership in 2016 and becoming part of Eugene Group, management has normalized, and the company has been expanding its scale by consecutively winning contracts. Currently, it is undertaking various projects such as rental housing in Goyang Jichuk, civil engineering works for the Godeok Substation, new construction of the Megastudy dormitory academy in Yongin, and youth housing near Sangbong Station.

The synergy effect with Eugene Group is also reflected in the construction capability evaluation. The ranking in the civil engineering and architecture sector, which was 244th in 2017, has steadily improved every year due to consistent improvements in construction performance and management results. Last year, it rose twelve places from the previous year to 109th, approaching entry into the top 100.

A Dongyang official stated, "With the recent acceleration of growth in the fresh food and e-commerce markets, demand for logistics centers is increasing," adding, "Based on the recent contract for the Eumseong Geumwang Technovalley Logistics Center, we plan to focus on strengthening our logistics center contracting capabilities."

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