Hyundai Engineering & Construction to Build Shinhanul Units 3 and 4 with Project Cost of 3.1 Trillion Won

Hyundai Construction Consortium as Weekly Contractor for Nuclear Power Plant Construction
Total Project Cost 3.1 Trillion KRW

Hyundai Engineering & Construction announced on the 25th that it has signed a contract for the main equipment construction of the Shin Hanul Units 3 and 4 nuclear power plants. The project involves constructing two 1400-megawatt (MW) nuclear reactors in the Buk-myeon area of Uljin-gun, Gyeongbuk Province. Hyundai Engineering & Construction is the lead contractor, with Doosan Enerbility and POSCO E&C participating jointly.

From the left, Jung Yeon-in, Vice Chairman of Doosan Enerbility; Hwang Ju-ho, President of Korea Hydro & Nuclear Power; Yoon Young-joon, President of Hyundai Engineering & Construction; Kim Min-chul, Vice President of POSCO E&C
[Photo by Hyundai Engineering & Construction]

The total project cost is 3.1 trillion won. Hyundai Engineering & Construction secured 1.7157 trillion won, accounting for 55% of the contract. The bidding for Shin Hanul Units 3 and 4 was the first domestic nuclear power plant construction project to apply the ‘Comprehensive Evaluation Bidding System.’ This advanced bidding system focuses on technical capabilities by comprehensively evaluating construction performance, implementation plans, and price. Although Hyundai Engineering & Construction submitted a higher bid than competitors, it won the contract by achieving higher scores in the technical evaluation.

Hyundai Engineering & Construction holds the titles of ‘the largest domestic nuclear power plant constructor’ and ‘the first overseas nuclear power plant exporter.’ It was also responsible for constructing Korea’s first nuclear power plant, Kori Unit 1, in 1970. Including the newly secured Shin Hanul Units 3 and 4, the company will serve as the lead contractor for 24 out of 36 Korean-designed large nuclear reactors domestically and internationally.

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