Daewoo Shipbuilding & Marine Engineering Construction Signs Contract for 164.3 Billion KRW Sokcho Jangsadong Terrace House New Construction Project

[Asia Economy Reporter Jang Hyowon] Daewoo Shipbuilding & Marine Engineering Construction, a subsidiary of Korea Technology, a KOSDAQ-listed company, announced on the 10th that it has signed a construction contract worth 164.3 billion KRW for a new terrace house project in Jangsa-dong, Sokcho.

This multi-family housing complex is located in the area of San 85, Jangsa-dong, Sokcho-si, Gangwon-do. It consists of a total of 472 units, including 27 residential buildings from basement level 1 to basement level 4, 3 neighborhood living facilities, and 4 welfare facilities. The construction period is 24 months from the actual start date.

Additionally, the complex plans to create parks through a green network, including ▲ Chorok Geonimgil ▲ Jongdalsaesup ▲ Supsok Noliteo ▲ Beodeulgae Jimot (waterside garden) ▲ Pureun Jandi Tteul.

This multi-family housing complex is characterized by its transportation and surrounding environmental infrastructure.

The KTX Sokcho Station is scheduled to open in 2027, which will enable travel from Seoul in about 1 hour and 20 minutes, improving accessibility to the metropolitan area. Also, within a 5 km radius, there are large supermarkets, express bus terminals, intercity bus terminals, and various convenience facilities located in the central living area of Sokcho.

In particular, the natural-friendly living environment is a major advantage. The complex is built surrounded by green spaces and is adjacent to the East Sea, Seoraksan Mountain, Yeongnangho Lake, and Cheongchoho Lake, allowing residents to enjoy a nature-friendly lifestyle.

A company official stated, “With this large-scale new construction, we will create a landmark in Sokcho and emerge as a leading local brand. Starting with the Jangsa-dong terrace house in Sokcho, we plan to continue securing large-scale orders that exceed last year’s contract amount.”

Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction has announced plans to establish a virtuous cycle ecosystem for value engineering (VE) through VE innovation, co-growth with developers and affiliates, and VE development models such as in-house VE competitions, aiming to improve profitability amid rising raw material costs.