Kumho Construction Wins Contract for New Construction of Daewoong Pharmaceutical Magok Research Center

by Kwon Hyeonji

Published 02 Apr.2024 09:43(KST)

Construction Cost of 153.9 Billion KRW

Kumho Construction announced on the 2nd that it has won the contract for the construction of the ‘Daewoong Pharmaceutical Magok Research Center’.

The Daewoong Pharmaceutical Magok Research Center will be built in the Magok district of Seoul, a key location for global research and development (R&D), with a scale of three basement floors to nine above-ground floors. The construction cost is 153.9 billion KRW. Construction will begin this month, aiming for completion in May 2026.

Aerial view of Daewoong Pharmaceutical Magok Research Center in Magok District, Gangseo-gu, Seoul. Photo by Kumho Construction

Daewoong Pharmaceutical issued this project as part of expanding open innovation to build a new drug development research center. The newly constructed research center will be used as a space for developing new drugs and conducting research activities with various domestic and international bio companies. Kumho Construction conducted preliminary design reviews and construction method simulations to maximize space utilization.

Since winning the 220 billion KRW-class ‘Gongju Natural Gas Power Plant’ contract in January, Kumho Construction has consecutively secured projects in plant, housing, and private sectors, including the ‘Gangneung Hoisan-dong Apartment Construction’ and the ‘Daewoong Pharmaceutical Magok Research Center Construction’.

A Kumho Construction official said, “We won this project based on our diverse experience and construction performance in various private sector projects. Following the Catholic University Omnibus Park and Wonju Severance Hospital, by consecutively securing pharmaceutical and medical sector projects, we have created an opportunity to enhance our expertise and accumulate outstanding achievements in this field.”