Doosan Construction Challenges Becoming a 100-Year Company Through Transparent Management and Brand Differentiation

Celebrating its 64th anniversary, Doosan Construction is preparing to leap into a '100-year company' through transparent management based on data.

Doosan We've the Zenith Central Gyeyang Bird's-eye View / Image Courtesy of Doosan Construction

Doosan Construction announced on the 29th that it continues its streak of complete sales (full sales) in all projects except simple construction this year, following last year. 'Doosan We've the Zenith Central Gyeyang,' launched in Gyeyang-gu, Incheon in January, completed 100% of contracts within 24 days of the start of contracts.

Following the complete sales streak, last year's sales increased by 40% compared to 2022. Operating profit grew by 200%, recording a profit for five consecutive years. Orders reached 2.7 trillion KRW, achieving over 2 trillion KRW in orders for three consecutive years. As of the end of last year, the order backlog amounted to 9.6 trillion KRW.

Doosan Construction analyzed that this is the result of strengthening transparent management, which has been a principle since last year to make all business processes transparent, improve inefficiencies, and reflect future risks in management. Doosan Construction also re-evaluates non-operating assets and manages them based on actual asset values rather than relying on book value. For example, in January, it secured liquidity by selling the Mecatec factory site in the Changwon Industrial Complex, a representative non-operating asset.

Although Doosan Construction has a relatively high debt ratio within the construction industry, the company explains that it pursues sustainable growth based on thorough data. A Doosan Construction official said, "The debt ratio is not due to contingent liabilities or increased debt from real estate project financing (PF), which was highlighted as an issue in the construction industry last year," adding, "It appears that capital decreased due to asset revaluation and other measures taken while practicing transparent management."

This year, the company has also set a challenging management policy. A Doosan Construction official said, "It has been nearly 40 years since the formation of the 1st generation new towns," and added, "We will continue to actively secure orders considering the growth potential of the housing market, sales performance, and profitability."

Efforts are also being made to differentiate the apartment brand We've, launched in 2001. The company visualizes 65 technologies unique to We've applied to apartment products as icons and manages them separately by category. A Doosan Construction official said, "We will continue to do our best to become a 100-year company by providing safer and more satisfying quality to customers based on abundant experience and technological capabilities."