Hanyang Secures 160 Billion KRW Public Construction Contracts This Year... "Efforts to Diversify Areas"

Seongnam Bokjeong 1 A-2 Block Apartment Bird's-eye View [Provided by Hanyang]

[Asia Economy Reporter Noh Kyung-jo] Hanyang announced on the 27th that it has secured three public construction contracts totaling 160 billion KRW from June to this month. The projects are diverse, including apartment construction, natural gas supply facility construction, and power duct construction.

First, the Seongnam Bokjeong 1 Apartment Construction Project Section 2, won in June, is a project to build 702 public rental and 행복주택 (Happy Housing) units along with auxiliary welfare facilities in the Bokjeong and Changgok-dong areas of Sujeong-gu, Seongnam-si, Gyeonggi Province. The project was commissioned by Korea Land & Housing Corporation (LH), with a total construction cost of approximately 78.2 billion KRW. Block A-2 will have 7 buildings with 387 units, and Block A-3 will have 6 buildings with 315 units.

In August, Hanyang secured a natural gas supply facility construction contract to build 16.5 km of natural gas supply pipelines and management stations in the Wanju-gun area of Jeonbuk Province. The contract amount is approximately 40.2 billion KRW.

This month, the company won a power duct construction project in the Gangseo area of Busan. This underground power transmission line connection project, spanning a total length of 4.6 km connecting Gangseo-gu and Saha-gu to ensure stable power supply to the development district, has a contract value of approximately 41.9 billion KRW for Hanyang.

Hanyang believes that its business performance, corporate credit rating, housing supply record of 200,000 units nationwide, and energy business achievements influenced its success in securing public construction contracts. The company also explained that it is expanding its channels by winning two urban renewal projects in Seoul and Incheon in March and a new logistics center construction project in Yeoju, Gyeonggi Province in May. It expects to achieve an order backlog of about 7 trillion KRW by the end of the year.

A Hanyang representative said, "Despite the construction market downturn, we were able to steadily secure orders based on Hanyang's technological capabilities and business performance," adding, "We will seek breakthroughs not only in public construction but also by diversifying order areas such as urban renewal and private contracting projects and expanding our energy business."