HDC Hyundai Development Company Reports 73 Billion Won Operating Profit in Q3, Up 54% Year-on-Year

by Han Jinjoo

Published 28 Oct.2025 10:21(KST)

Impact of Revenue Recognition from Large-Scale Projects such as Seoul One and Cheongju

HDC Hyundai Development Company's operating profit for the third quarter rose year-on-year, driven by revenue recognition from large-scale projects such as Seoul One I-Park and Cheongju Gagyeong I-Park.

Seoul One I-Park Rendering. HDC Hyundai Development Company

On October 28, HDC Hyundai Development Company announced in a regulatory filing that its consolidated operating profit for the third quarter increased by 53.8% year-on-year to 73 billion won. During the same period, revenue decreased by 3.3% to 1.053 trillion won, while net profit rose by 21.9% to 39.8 billion won.

Cumulative operating profit from the first quarter of this year reached 207.3 billion won, up 45.1% from last year.

HDC Hyundai Development Company explained, "The increase in operating profit was driven by revenue recognition from large-scale projects such as Seoul One and Cheongju Gagyeong, as well as the completion and revenue recognition of Suwon I-Park City Complexes 10 to 12."

The company expects to maintain a stable upward trend in performance in the fourth quarter and next year, citing revenue recognition from large-scale projects such as Unjeong I-Park City, which is about to begin sales, and Cheonan I-Park City Complex 2, which was recently launched.

HDC Hyundai Development Company stated, "We plan to continue the stable supply of more than 10,000 housing units nationwide, focusing on proven projects such as Cheongju Gagyeong I-Park and Cheonan I-Park City, while also maintaining steady sales."