HDC Hyundai Development 'Over 2 Trillion Won in Orders' with Strong Financial Stability... Recovering Brand Competitiveness

HDC Hyundai Development Company announced on the 29th that it focused on strengthening financial stability, safety, quality, smart capabilities, and design competencies throughout the year, while enhancing the core competitiveness of the I-Park brand. Based on this, it supplied more than 10,000 I-Park units in major cities nationwide, including Seoul, Busan, and Cheongju, achieving orders exceeding 2 trillion KRW.

HDC Hyundai Development Company designates the 4th of every month as Safety Inspection Day, with executives personally leading special safety inspections. The photo shows Kim Hoeon, CEO of HDC Hyundai Development Company (second from the left), visiting the Uiwang Chopyeong District Knowledge Industry Center site last October to lead a special safety inspection. Photo by HDC Hyundai Development Company

HDC Hyundai Development Company is recovering its financial soundness with a turnaround to operating profit in the first half of this year, along with reductions in net borrowings and debt ratio. As of the third quarter financial statements, net borrowings stood at approximately 1 trillion KRW, down 400 billion KRW from 1.4 trillion KRW at the end of last year. The company plans to continue reducing net borrowings by shrinking borrowing scale and securing cash assets. The debt ratio decreased from 138% to 118% during the same period. Cumulative sales increased by 27% year-on-year to 3.0131 trillion KRW, cumulative operating profit rose 207% to 114.1 billion KRW, and cumulative net income surged 766% to 118.7 billion KRW, achieving an earnings surprise.

The strengthening of financial stability and I-Park competitiveness translated into order results. This year, the company secured a balanced order volume of 2.1253 trillion KRW across all business sectors including private orders, urban maintenance, and infrastructure. This exceeded the initial guidance target of 2.0816 trillion KRW. In the private order sector, projects such as Gangneung Gyeonso-dong I-Park (258.8 billion KRW) and Jeonbuk Iksan Busong 4 District I-Park (149.6 billion KRW) were undertaken. Along with the reconstruction and maintenance project of Samsung Apartments in Singil-dong (179.4 billion KRW), additional orders were secured recently in the infrastructure sector. The company consecutively won the largest government-commissioned projects this year, including the Indukwon-Dongtan double-track railway Section 12 subgrade construction (362.6 billion KRW) and Gwangju Metro Line 2 Sections 9 and 12 (162.6 billion KRW). As a result, HDC Hyundai Development Company's order backlog increased to approximately 32 trillion KRW, further strengthening its core business competitiveness.

The solid order backlog is driving stock price growth. The order backlog for its own housing business is about 10 trillion KRW, with over 70% concentrated in Seoul and the metropolitan area. In addition, HDC Hyundai Development Company has been restoring market trust and enhancing shareholder value by providing performance guidance at the beginning of the year, holding regular IR presentations, and conducting quarterly conference calls.

HDC Hyundai Development Company is also fully committed to restoring trust through safety and quality enhancement and renewing its management system. Since the beginning of the year, it established a CSO organization responsible for safety innovation management to ensure that construction management innovation measures are stably implemented on site. Furthermore, to complete the A1 project, building demolition began in July this year, with company-wide efforts focused on successful dismantling. To regain community trust, the company is conducting customized social contribution activities such as planting volunteer work at Gwangju Bitgoeul Senior Health Town, supporting life bracelets and firefighting equipment in the Gwangju area, and providing food supplies to vulnerable groups in Gwangju.

I-Park continues to prove its brand competitiveness nationwide with successful subscription results at Gwangmyeong Central I-Park, Cheongju Gagyeong I-Park Complex 6, and Gangneung Ocean City I-Park. Additionally, starting with Olympic Park Foreon this year, the company is supplying about 12,000 units across Seoul and other regions nationwide, with approximately 11,000 units moving into I-Park residences, continuing to enhance brand value.

HDC Hyundai Development Company plans to create new value for future spaces by promoting complex development projects next year, including the commencement of the H1 project, development of the Yongsan Railroad Hospital site, and the Seongmunan project.

An HDC Hyundai Development Company official stated, "Based on the financial soundness built this year, we will maintain stable operations amid uncertain economic conditions next year and successfully advance strategic projects." He added, "In particular, through the H1 project, we will introduce a smart urban space incorporating medical services, wellness, green networks, advanced technology, and energy self-sufficiency systems." He continued, "We will create an I-Park unique urban model where the city grows together with the local community."

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