[Let's Run Again K Construction] DL E&C, Best, Longest, First... Expansive Moves with Technology Connecting Europe and Asia

Presence with Turkey's Canakkale Bridge
Beyond Simple Construction, Responsible for Total Solutions
Bold Leap as a Global Developer
First Introduction of Rubber-Wheeled Electric Train on Sinlim Line

[Asia Economy Reporter Kim Min-young] DL E&C is actively striving to advance as a comprehensive developer. Following the opening of the ?anakkale Bridge in T?rkiye (Turkey) and the Seoul Sillim Line urban railway earlier this year, the company has solidified its market position by commencing full-scale operations of the Golpur Hydroelectric Power Plant in Pakistan. DL E&C plans to expand its high-profit-oriented business portfolio and is focusing its capabilities accordingly.

◇The world's longest suspension bridge... connecting Europe and Asia= In March this year, DL E&C showcased its global presence by opening the world's longest suspension bridge, the ?anakkale Bridge.

Connecting the continents of Europe and Asia, the ?anakkale Bridge was constructed by DL E&C and SK Ecoplant, starting in April 2018 and completed after 48 months of construction. With a total length of 3,563 meters, its main span?the distance between the main towers?is the longest in the world for a suspension bridge. The ranking of suspension bridge technology is determined by the length of the main span. The ?anakkale Bridge surpassed the previous record-holder, Japan's Akashi Kaiky? Bridge (main span 1,991 meters), to claim the top spot worldwide.

During the construction of the ?anakkale Bridge, DL E&C and SK Ecoplant installed the world's tallest main towers at 334 meters, surpassing the height of the Eiffel Tower in France (320 meters) and Tokyo Tower in Japan (333 meters). The project demonstrated K-Construction's outstanding technological prowess through various advanced methods, including the use of world-class ultra-high-strength cables, massive anchorages and caissons, and specially manufactured airplane wing-shaped decks.

Notably, this project is a public-private partnership under a Build-Operate-Transfer (BOT) model, where DL E&C and SK Ecoplant constructed the suspension bridge and connecting roads, operated them for approximately 12 years, and then transferred ownership to the local government. DL E&C stepped beyond simple construction to handle project discovery and planning, financial procurement, construction, and operation, asserting its presence as a global developer.

Additionally, in May, DL E&C officially opened the 7.8 km-long Sillim Line, connecting Gwanaksan (Seoul National University) Station in Gwanak-gu to Saetgang Station in Yeongdeungpo-gu, Seoul. The Sillim Line is a developer project promoted by DL E&C under a Build-Transfer-Operate (BTO) model. Namseoul Light Rail, led by DL E&C as the main contractor, transferred ownership to the Seoul Metropolitan Government upon completion and will operate the line for 30 years to recover its investment. The total project cost amounts to 832.8 billion KRW.

◇Diversifying a high-profit-centered portfolio... low PF contingent liabilities= The Sillim Line operates Seoul's first rubber-tired electric trains. Rubber-tired light rail trains have wheels made of rubber tires, offering advantages such as reduced noise and enhanced stability.

Moreover, the Sillim Line is the first in Korea to adopt the Korean-style wireless communication-based train control system (KRTCS), enabling unmanned operation without drivers. The opening of the Sillim Line is expected to significantly alleviate traffic congestion in the southwestern districts of Seoul, including Yeongdeungpo-gu, Dongjak-gu, and Gwanak-gu. It is also anticipated to contribute to economic revitalization in areas near the 11 stations, including four transfer stations.

Having previously succeeded in major developer projects such as 'Acro Seoul Forest' in Seongsu-dong, Seoul, and the large-scale 6,800-unit 'e-Pyeonhansesang Yongin Hansup City' in Yongin, Gyeonggi Province, DL E&C has established itself as a global developer by completing the ?anakkale Bridge, the Sillim Line, and the Golpur Hydroelectric Power Plant project in Pakistan this year.

Thanks to this diversification toward a high-profit portfolio, DL E&C maintained an industry-leading financial status with a consolidated debt ratio of 89% and net cash of 1.2551 trillion KRW as of the end of the third quarter. Its order backlog also increased by 11.3% compared to the end of last year, reaching 27.0711 trillion KRW as of the end of the third quarter. Based on this solid financial structure, DL E&C was not included in the list of construction companies with project financing (PF) contingent liabilities surveyed by Korea Ratings.

At that time, Korea Ratings reported in June that the PF contingent liabilities of 21 domestic construction companies amounted to 18.4 trillion KRW.

DL E&C plans to continue growing as a total solution provider that goes beyond the traditional construction business model of simple construction to handle the entire business process from project discovery and planning, equity investment, financial procurement, construction, to operation.

A DL E&C official stated, "Based on our global No.1 technology and developer capabilities, DL E&C is recognized in the global developer market. We will improve our organizational structure to promote high value-added developer projects and continue to create new value that meets the heightened market expectations."