Hyundai Engineering & Construction, H1 Cumulative Orders Reach 5.7 Trillion KRW... Largest Urban Renewal Project Performance for 3 Consecutive Years

Perspective view of Imun 4 District redevelopment.

[Asia Economy Reporter Kim Hyemin] Hyundai Engineering & Construction's cumulative orders for urban renewal projects in the first half of this year have surpassed last year's total annual orders. With this, Hyundai Engineering & Construction has set a new record for the highest performance in urban renewal projects for three consecutive years.

On the 18th, Hyundai Engineering & Construction secured the construction rights for the Imun 4 District redevelopment project within Imun and Hwikyung New Town in Dongdaemun-gu, Seoul, achieving a cumulative order amount of 5.6988 trillion KRW for urban renewal projects this year, the company announced on the 20th.

Including this order, Hyundai Engineering & Construction has consecutively secured projects this year such as △Bongdeok 1-dong Uri Redevelopment in Daegu △Ichon Gangchon Remodeling △Jangdae B District Redevelopment in Daejeon △Gangdong Seonsa Hyundai Remodeling △Gwacheon Jugong 8 and 9 Complex Reconstruction △Gwangcheon-dong Redevelopment in Gwangju △Doma and Byeondong 5 District Redevelopment in Daejeon △Imun 4 District Redevelopment. The cumulative order amount so far this year is 5.6988 trillion KRW, surpassing last year's total annual order amount. Compared to the first half of last year (1.2919 trillion KRW), this is more than four times the performance.

Last year, Hyundai Engineering & Construction secured 5.5499 trillion KRW in urban renewal projects, setting a record for the highest performance for two consecutive years, joining the '5 trillion club' for the first time in company history, and becoming the first in the industry to rank first for three consecutive years. This year, it is the only domestic construction company to surpass 5 trillion KRW in orders. In particular, this year, the company focused on solid orders and consecutively secured major projects with construction amounts exceeding 800 billion KRW.

Hyundai Engineering & Construction expects to surpass 7 trillion KRW in orders this year. This is because the construction company selection meetings scheduled this month for △Sanbon Mugunghwa Jugong 1 Complex Remodeling △Busan Seogeumsa 6 District Redevelopment Project also have high chances of being secured. A Hyundai Engineering & Construction official said, "If we succeed in these orders, achieving the '7 trillion club' in the first half and maintaining the industry's top position for four consecutive years will be smooth."

Meanwhile, since the inauguration of President Yoon Young-jun, Hyundai Engineering & Construction has been actively pursuing orders in urban renewal projects by diversifying business areas, reorganizing the sales organization for orders, recruiting specialized personnel focused on urban renewal, and proposing customized designs and project conditions through meticulous market analysis. In major metropolitan cities, the company has selected projects located in prime locations and proposed its high-end brand 'The H,' and has also adopted bold order strategies such as forming consortia with competitors to participate in bids.

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