Dongyang Wins Contract for Construction of 'KEPCO Seodaemun Eunpyeong Branch Complex Building'

Seoul Susaek-dong Total Construction Cost 46.7 Billion Won, Consortium with Dongil Construction

Perspective view of the complex building for Korea Electric Power Corporation Seodaemun Eunpyeong Branch contracted by Dongyang.
[Photo by Dongyang]

[Asia Economy Reporter Kim Jong-hwa] Dongyang, an affiliate of Eugene Group, is strengthening its competitiveness in securing orders by signing a contract for the "Korea Electric Power Seodaemun Eunpyeong Branch Complex Office Building New Construction Project" with a total construction cost of 46.7 billion KRW.

The project Dongyang secured this time is a complex office facility located on a site of 5,509㎡ at 160 Susaek-dong, Eunpyeong-gu, Seoul, consisting of a three-story above-ground office building and a five-story underground substation facility. The construction period is 40 months from the start date.

This project involves an underground substation facility spanning five basement levels. Along with the undergrounding of the Susaek Substation, which had been perceived as a nuisance facility due to electromagnetic waves generated by the substation, a new image office building resembling an urban park will be constructed.

Dongyang participated in this project by forming a consortium with Dongil Construction. Dongyang holds a 65% stake, with a contract amount of 30.3 billion KRW. Last year, Dongyang enhanced its brand value by securing projects such as the National Assembly Road underground passage and upper park, Megastudy Yongin dormitory academy new construction, Boryeong Thermal Power Plant coal yard indoor construction, and Sangbong-dong station area youth housing.

In the "2022 Construction Capability Evaluation" announced last month by the Ministry of Land, Infrastructure and Transport, Dongyang ranked 101st out of 3,055 companies in the civil engineering and architecture construction industry, approaching entry into the top 100 next year. This is a rise of 9 places from 110th last year.

Since graduating from court receivership in 2016 and joining Eugene Group, Dongyang has steadily improved its ranking every year, starting from 244th in 2017, thereby enhancing its competitiveness in securing orders.

A Dongyang official stated, "Dongyang is successfully carrying out various projects in housing, civil engineering, architecture, and plants through a diverse business portfolio," adding, "We plan to continue efforts to enhance our brand value based on the construction business know-how accumulated over a long period."

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