SG Signs Supply Contract Worth 14.5 Billion KRW with Incheon Procurement Service

[Asia Economy Reporter Jang Hyowon] SG, an asphalt and ready-mixed concrete manufacturing company (CEO Park Changho), announced on the 20th that it has signed an asphalt supply contract worth approximately 14.5 billion KRW with the Incheon Procurement Service.

Through this supply contract, SG will deliver about 252,000 tons of asphalt to the metropolitan area in the first half of this year.

An SG official stated, "Since the COVID-19 pandemic, we have been recognized as a beneficiary company of SOC (Social Overhead Capital) stimulus measures," adding, "About 30% of this year's SOC budget of approximately 26 trillion KRW is planned for road use, so large-scale asphalt supply contracts are expected in the second half of this year as well."

According to the company, the commercialization of EcoSteelAscon, a new construction technology currently being promoted, is expected to begin in earnest from the first half of this year. Through this, SG anticipates maximizing the volume of asphalt supplied to the metropolitan area.

Meanwhile, EcoSteelAscon, developed by SG, is an eco-friendly technology that improves the performance of asphalt concrete by using strong steelmaking slag instead of natural aggregates. It boasts ▲high strength ▲low noise ▲durability ▲and economic efficiency. It features about 1.5 times higher strength compared to regular asphalt, as well as a lifespan of 4 years, which is about twice the average lifespan of 2 years.