[Asia Economy Reporter Jang Hyowon] Daewoo Shipbuilding & Marine Engineering Construction, a subsidiary of Korea Technology (CEO Shin Yonggu), a KOSDAQ-listed company, announced on the 11th that it has signed a construction contract worth 58.9 billion KRW with Yuknam With You Co., Ltd. for a residential-commercial complex apartment project in Jinhyeon-dong, Gyeongju.
The residential-commercial complex will be developed on site 779-1, Jinhyeon-dong, Gyeongju, with a land area of 27,009㎡ (8,170.2 pyeong) and a total floor area of 49,955.7㎡ (15,111.6 pyeong). It will consist of six buildings with 2 basement floors and 10 to 14 above-ground floors.
The building coverage ratio is 32.48%, and the floor area ratio is 262.14%. The complex will include 337 apartment units, 39 officetel units, and neighborhood living facilities. The construction period is 26 months from the actual start date.
This residential-commercial complex boasts excellent transportation infrastructure and a nature-friendly living environment. It is adjacent to arterial road networks (National Routes 4 and 7), Namgyeongju IC, and Donggyeongju IC. Via National Route 7, access to Gyeongju city center, Busan, and Ulsan is convenient. Additionally, the opening of the Ulsan-Pohang expressway has completed the establishment of a wide-area transportation network.
The nature-friendly living environment is also outstanding. The area where the complex is located offers excellent natural scenery with great surrounding views, enabling a pleasant rural lifestyle.
Moreover, nearby historical tourist attractions such as Bulguksa Temple, Dabotap Pagoda, and Seokguram Grotto, along with Daedeoksan Mountain, Manhobong Peak, and Tohamsan Mountain, provide an eco-friendly living environment.
On the 1st, Daewoo Shipbuilding & Marine Engineering Construction established a joint ESG (Environmental, Social, and Governance) Management Committee with its parent company Korea Technology, strengthening its efforts in environment, social contribution, and governance, which resulted in an improved credit rating.
As a result, construction orders like the residential-commercial complex in Jinhyeon-dong, Gyeongju, are expected to increase further.
Seo Boknam, CEO of Daewoo Shipbuilding & Marine Engineering Construction, said, “With growing interest in rural living recently, it has become a new residential culture and lifestyle. This Jinhyeon-dong residential-commercial apartment fully meets the needs of such customers.”
He added, “The order-winning relay that started in the fourth quarter of last year continues into the second quarter, and with the improved credit rating, sole responsibility completion by trust companies has become possible. Recently, inquiries for orders have surged sharply, and we are aiming to exceed this year’s order target of 1.8 trillion KRW and even consider achieving 2 trillion KRW.”
Meanwhile, in January, Daewoo Shipbuilding & Marine Engineering Construction was recognized for its construction expertise and technology in the marine sector and secured a 480 billion KRW contract for the Saemangeum wind power complex, a core government renewable energy project. Recently, it has also been reported to enter the floating offshore wind power generation business, attracting attention from the renewable energy industry.
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