Daewoo Shipbuilding & Marine Engineering Construction Breaks Ground on 163 Billion KRW Construction Project in Daejeon Metropolitan City

[Asia Economy Reporter Jang Hyowon] Daewoo Shipbuilding & Marine Engineering Construction, a subsidiary of Korea Technology, a KOSDAQ-listed company, announced on the 9th that it is promoting a large-scale construction project worth approximately 163 billion KRW in Daejeon City.

On the 8th, Daewoo Shipbuilding & Marine Engineering Construction succeeded in winning a contract worth about 110.3 billion KRW for the construction of a residential-commercial complex building in Oryu-dong, Jung-gu, Daejeon. On the same day, it signed a business agreement with Eunhaenggil, KOOP HM, and Asia Trust for the construction of the Daejeon KOOP City Park Suite Hotel, worth approximately 52.5 billion KRW, and began project promotion. Accordingly, the company will be carrying out new projects worth 163 billion KRW solely in the Daejeon area.

The first project in the Daejeon area is the construction of a residential-commercial complex building in Oryu-dong, Jung-gu, Daejeon, worth 110.3 billion KRW. The project will be built on four lots including 165-4 Oryu-dong, consisting of a residential-commercial complex building with five basement floors and 30 above-ground floors, featuring 133 residential units and neighborhood living facilities. It is located within a five-minute walk from Seodaejeon Negeori Station on Daejeon Subway Line 1, a prime station area, and is equipped with shopping and cultural facilities such as Homeplus, department stores, cinemas, Seodaejeon Park, and an outdoor performance hall, allowing residents to enjoy commercial and leisure facilities all at once.

The second project is the construction of the Daejeon KOOP City Park Suite Hotel, worth 52.5 billion KRW. Daewoo Shipbuilding & Marine Engineering Construction is responsible for product planning and completion guarantee, while Asia Trust supports real estate trust-linked financial services. KOOP HM, which owns the KOOP Hotel, a leading residence brand, provides the brand and is responsible for establishing a one-stop system through specialized clusters in various fields. The KOOP City Park Suite Hotel is planned to be located right in front of Exit 9 of Jungangno Station on Daejeon Subway Line 1, a prime station area, boasting perfect surrounding infrastructure such as underground shopping malls, cinemas, and shopping centers.

A company official said, “It is encouraging to be promoting new projects worth over 160 billion KRW solely in the Daejeon area,” adding, “We will not be satisfied with this and will expand our business portfolio by securing large-scale construction projects in other major cities.”

The official continued, “Since the beginning of this year, we have been continuously winning orders for a 480 billion KRW offshore wind power plant, a 72.1 billion KRW residential lodging facility on Turtle Island in Siwha, and a 38 billion KRW apartment complex in Jumunjin,” adding, “We expect additional large-scale project orders through preliminary business agreements such as the Ariul Wind Power Plant and the Bohol Integrated Leisure Town in the Philippines.”