Hyundai Engineering & Construction Secures 4.4491 Trillion KRW in Maintenance Projects This Year... On the Verge of Record-Breaking Performance

Perspective view of Hannam 3 District, Yongsan-gu, Seoul.

[Asia Economy Reporter Donghyun Choi] Hyundai Construction announced on the 26th that it is on the verge of achieving its highest-ever order record since its establishment, recording 4.4491 trillion KRW in urban maintenance project orders this year.

Since 2016, Hyundai Construction has secured more than 1 trillion KRW annually in maintenance projects. On the 20th, it won the construction rights for the Daegu Myeongnyung District redevelopment project, accumulating orders worth 4.4491 trillion KRW this year. In particular, by being selected as the construction company for Hannam 3 District in Yongsan-gu, Seoul, the largest redevelopment project in history, it is expected to surpass the previous record of 4.6468 trillion KRW set in 2017.

This year, Hyundai Construction secured orders for the Seoul Sinyongsan North Side 2 District Urban Environment Maintenance Project (303.7 billion KRW), ▲ Busan Beomcheon 1-1 District Urban Environment Maintenance Project (416 billion KRW), ▲ Daejeon Daeheung-dong 1 District Redevelopment Project (85.3 billion KRW), ▲ Seoul Jangwi 11-2 Street Housing Maintenance Project (40.2 billion KRW), ▲ Wonju Wondong Narae District Redevelopment Project (208 billion KRW), ▲ Seoul Jegi 4 District Redevelopment Project (159 billion KRW), ▲ Daegu Dowon Apartment Street Housing Maintenance Project (82.4 billion KRW), ▲ Busan Banyeo 3-1 District Reconstruction Project (244.1 billion KRW), ▲ Seoul Hannam 3 District Redevelopment Project (1.7378 trillion KRW), ▲ Seoul Hongje 3 District Reconstruction Project (168.7 billion KRW), ▲ Daejeon Daedong 4·8 District Redevelopment Project (266.7 billion KRW), ▲ Jeju Ido Jugong 2·3 Complex Reconstruction Project (293 billion KRW), ▲ Seoul Noryangjin 4 District Redevelopment Project (198.8 billion KRW), ▲ Jinju Ihyeon 1-5 District (Ihyeon Jugong) Reconstruction Project (100.4 billion KRW), and ▲ Daegu Myeongnyun District Redevelopment Project (322.7 billion KRW). These achievements span 15 project sites in major cities including the metropolitan area, Busan, Daegu, and Daejeon.

Hyundai Construction maintains top-tier financial soundness, which is crucial in urban maintenance projects, by sustaining the highest credit rating for corporate bonds in the industry for 10 consecutive years, supported by solid financial health and abundant cash liquidity in the construction sector sensitive to economic cycles. Hyundai Construction is expected to exceed a total order backlog of 15 trillion KRW along with this year's record-breaking performance.

A Hyundai Construction official stated, “Thanks to our industry-leading solid financial structure, cash liquidity, and premium brand, we were able to achieve favorable results in the bidding process. We will do our best to leverage Hyundai Construction’s unique brand philosophy and technical expertise in projects scheduled for the fourth quarter to achieve the highest-ever performance.”