Hansung Cleantec Selects Shinhan Investment Corp. as Lead Underwriter for IPO

Record High Sales Expected This Year... Increase in Orders Both Domestically and Overseas

[Asia Economy Reporter Hyungsoo Park] E&C Corporation announced on the 24th that its subsidiary Hanseong Cleantec has selected Shinhan Investment Corp. as the lead underwriter for its initial public offering (IPO).

Founded in 1990, Hanseong Cleantec specializes in ultrapure and industrial water treatment. Last year, it recorded sales of 162.3 billion KRW, a 47% increase compared to the previous year. Sales this year are expected to exceed 200 billion KRW.

Hanseong Cleantec received its first investment of 20 billion KRW from the eco-friendly fund SKIL Eco PEF, in which SK Ecoplant is a major investor. Based on the IPO, the company plans to domesticize the ultrapure water manufacturing process and expand its overseas business areas.

A Hanseong Cleantec official stated, "With increasing domestic and overseas orders, we expect to record the highest sales ever this year," adding, "Based on these results, we will do our best to succeed in domesticating ultrapure water technology and grow into a strong small and medium-sized enterprise."

In June last year, Hanseong Cleantec was selected by the Ministry of Environment as a developer for ultrapure water domesticization technology. It is currently carrying out a national project together with the Korea Water Resources Corporation. Currently, Japanese companies monopolize all stages from design to major equipment supply for ultrapure water. The goal is to domesticize all stages.

When the ultrapure water domesticization demonstration plant is completed early next month, Hanseong Cleantec and the Korea Water Resources Corporation will jointly conduct commissioning and normal operation to promote technological independence in ultrapure water.

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