SG Signs Asphalt Supply Contract with Public Procurement Service... Total 203.7 Billion KRW Including Affiliates

Asphalt manufacturing company SG (CEO Park Chang-ho) recently signed a supply contract with the Public Procurement Service, marking the first time a mid-sized company has entered the public asphalt procurement market.

According to SG on the 15th, the supply contract with the Public Procurement Service amounts to 72.675 billion KRW solely by SG, and when including the amounts won by SG's consolidated subsidiaries and affiliates such as Hwashin Asphalt, the total reaches 203.7 billion KRW. Through this contract, the company will supply 864,000 tons of asphalt to Seoul, Incheon, and the metropolitan area over two years from March this year to February 2026.

Notably, this contract is significant as it is the first large-scale contract won by a mid-sized company, SG, in the asphalt public procurement market, which had previously been limited to small and medium enterprises.

SG plans to focus all efforts on securing a total of 2.46 million tons of government-procured asphalt in key areas including the Gyeongin region, Anseong and Pocheon cities in Gyeonggi Province, Asan, Gongju, Sejong Special Self-Governing City in Chungcheongnam-do, and Chungju city in Chungcheongbuk-do. Additionally, leveraging this Public Procurement Service contract, SG aims to strengthen sales in the private sector and accelerate the establishment of an Eco Steel Asphalt supply chain through technical agreements with asphalt companies in other regions.

Park Chang-ho, CEO of SG, stated, “This was the first multiple supplier contract conducted after the exemption of competitive products among small and medium enterprises in the asphalt industry, and SG achieved satisfactory results as a mid-sized company.” He added, “Beyond this contract, we will expand the nationwide asphalt supply base led by eco-friendly Eco Steel Asphalt and intensify our efforts to prove our technological capabilities in Ukraine, where urban reconstruction projects are active.”

Meanwhile, SG is actively promoting road restoration projects in Ukraine and has focused on entering the Ukrainian market by signing asphalt supply contracts worth a total of 35.6 billion KRW, including 12.5 million euros each with Ukraine’s DS Prom Group in December last year and Eurobud Plus in January this year.