Daewoo Shipbuilding & Marine Engineering Construction Selected as Bidder for 150 Billion KRW LH Pyeongtaek Godeok Apartment Construction Section 13

[Asia Economy Reporter Jang Hyowon] Korea Technology Daewoo Shipbuilding & Marine Engineering Construction (Chairman Kim Yongbin), a KOSDAQ-listed company, announced on the 2nd that it was finally selected as the successful bidder for the 150 billion KRW-scale "Pyeongtaek Godeok AA-53BL Apartment Construction Project Section 13," which LH conducted last month on the 8th through a comprehensive evaluation system.

The Pyeongtaek Godeok AA-53BL Apartment Construction Project Section 13 is a construction project to build public sale and Happy Housing apartments totaling 1,167 households in 15 buildings ranging from 2 basement floors to 20 above-ground floors, with a total floor area of approximately 46,000 pyeong, located in Godeok-myeon, Pyeongtaek-si, Gyeonggi-do (Pyeongtaek Godeok International Development District and Residential Development District AA-53BL).

This new construction project will be carried out in a joint contract form, and the order amount according to our company's share (80%) as the representative company is about 119.9 billion KRW (total 149.8 billion KRW). The construction period is planned to start this month and aims for completion in August 2024.

A company official stated, "We are pleased to be selected as the successful bidder for the 149.8 billion KRW-scale LH apartment based on our technical skills, having been awarded the Excellent Construction Company in the Housing Sector by LH in 2020 and winning excellence awards in two fields including quality improvement and construction management improvement at the 2021 VE Competition," adding, "Having passed the rigorous bidding process competing against 46 leading domestic companies and being selected as the successful bidder, we will strive for the highest construction quality and accident-free construction."

He also said, "Continuous orders in the public sector following the private sector will not only significantly help improve the financial structure but also sustain the order boom due to continuous virtuous cycles such as increased recognition through orders."

Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction also announced that it succeeded in winning a 30.5 billion KRW-scale facility construction project bid conducted by the Military Finance Management Group on the 8th of last month.