Daewoo Shipbuilding & Marine Engineering Construction "This Year's Sales Target 800 Billion Won, Will Join the 1 Trillion Club in 2023"

[Asia Economy Reporter Jang Hyowon] Daewoo Shipbuilding & Marine Engineering Construction, a subsidiary of Korea Technology, announced on the 4th that it is expected to achieve approximately 800 billion KRW this year, supported by the record-high order volume secured last year.

Daewoo Shipbuilding & Marine Engineering Construction stated that it aims to achieve orders worth about 2 trillion KRW and sales of 800 billion KRW this year, and to reach orders of 3 trillion KRW and sales of 1.2 trillion KRW next year, joining the "1 trillion sales club" for the first time in 2023.

Furthermore, through large-scale real estate development projects and new blockchain businesses promoted by its parent company Korea Technology, the entire group plans to significantly increase overall sales and profits.

To this end, Daewoo Shipbuilding & Marine Engineering Construction plans to ▲expand its nationwide order network ▲increase human and material infrastructure ▲enter the metropolitan apartment market. Korea Technology, the parent company, is also known to be aggressively expanding sales through bold new business ventures such as ▲real estate development projects ▲NFT sales business ▲metaverse business, in collaboration with its affiliates including Daewoo Shipbuilding & Marine Engineering Construction and Day One Asset Management, beyond its existing projects.

A Korea Group official said, “With Daewoo Shipbuilding & Marine Engineering Construction expected to achieve the highest sales growth in 2022, and Korea Technology equipped with blockchain NFT business and real estate development projects, the group is set to reach an upward inflection point marking the best performance since its founding.”

He added, “Daewoo Shipbuilding & Marine Engineering Construction’s brand image has greatly improved, as evidenced by its selection as one of the top innovative companies in construction safety, receiving a ‘Very Excellent’ rating in the 2021 Public Construction Safety Management Level Evaluation announced by the Ministry of Land, Infrastructure and Transport, alongside Dongbu Construction, Shindonga Construction, Hanshin Engineering & Construction, Hanjin Heavy Industries, and Hoban Industry. This bodes well for its business prospects.”

Meanwhile, last year Daewoo Shipbuilding & Marine Engineering Construction succeeded in securing new orders one after another, setting a new record, including projects such as ▲Sihwa MTV Turtle Island Freshwater Facility ▲Daejeon Jung-gu Mixed-use Complex ▲Gimpo Logistics Center ▲Gyeongnam Sacheon Mixed-use Complex ▲Gyeongnam Sacheon Yesu 2 District Apartments ▲Gyeongnam Changwon Sinchon 2 District Apartments ▲Seoul Jeongneung Station Regional Housing Association Apartments ▲Daegu Manchon-dong Premium Mixed-use Complex ▲Sokcho Jangsadong Apartments ▲Gyeongnam Tongyeong Multi-family Housing ▲Gyeonggi Gapyeong Seorak Multi-family Housing ▲Wonju Munmak-eup Multi-family Housing ▲Jeju Hamdeok Multi-family Housing ▲Seoul Seocho Officetel ▲Pohang Jukdo-dong Officetel ▲LH Pyeongtaek Godeok Apartments ▲Gyeongnam Goseong Multi-family Housing ▲Geoje Ajudong Multi-family Housing.