Daewoo E&C Holds Series of Meetings with Top Leaders of the African Continent

Daewoo E&C Chairman Jeong Won-ju and President Baek Jeong-wan
Continue Meetings with Top African Leaders Visiting Korea for the Korea-Africa Summit

Chairman Jeong Won-ju of Daewoo E&C and Nigeria's Foreign Minister Yusuf Maitama Tuggar are taking a commemorative photo.

Daewoo E&C announced that Chairman Jung Won-joo and President Baek Jeong-wan met with top leaders from key African countries visiting Korea for the Korea-Africa Summit and engaged in activities to expand their presence in local markets.

On the 2nd, Chairman Jung paid a courtesy visit to Samia Suluhu Hassan, President of Tanzania, and on the morning of the 3rd, he met with Joseph Nyuma Boakai, President of Liberia, followed by a meeting with Yusuf Maitama Tuggar, Minister of Foreign Affairs of Nigeria, in the afternoon.

In particular, on the 3rd, Chairman Jung met with Yusuf Maitama Tuggar, Minister of Foreign Affairs of Nigeria, who visited Daewoo E&C headquarters, discussing cooperation to strengthen hotel, residential, and new town development projects as well as oil and natural gas plant projects.

During the meeting, Chairman Jung stated, "I personally visited Nigeria last November and witnessed firsthand the country's development potential," adding, "Based on the capabilities of the Joongheung Group, which has over 30 years of expertise in real estate development, Daewoo E&C will strive for new town development and other projects in Nigeria."

Nigeria is a leading African country experiencing dynamic growth, supported by a population of approximately 230 million and abundant resources. Since entering Nigeria in 1983, Daewoo E&C has executed projects worth $10 billion across 71 projects.

Currently, Daewoo E&C is carrying out five projects worth a total of $3.4 billion, including the NLNG Train 7 and emergency repair works at the Kaduna refinery. In Nigeria, a key hub country for Daewoo E&C's expansion into the African continent, the company is actively engaged not only in construction but also in CSR activities such as establishing a technical training center and supporting cataract surgeries and eye examinations for locals.

Daewoo Construction President Baek Jeong-wan and Filipe Nyusi, President of Mozambique, are taking a commemorative photo.

President Baek Jeong-wan also paid visits to Filipe Nyusi, President of Mozambique, on the 3rd, and Moussa Al-Koni, Vice Chairman of the Libyan Presidential Council, on the 4th. During his meeting with the President of Mozambique, President Baek requested significant interest and support for the 'LNG Area 1' and 'LNG Area 4' projects underway in Mozambique.

Mozambique's confirmed natural gas reserves amount to approximately 170 trillion cubic feet, ranking second in Africa and twelfth worldwide. Leveraging its global LNG plant construction capabilities, Daewoo E&C plans to expand its business in Mozambique.

In the subsequent meeting on the 4th with Moussa Al-Koni, Vice Chairman of the Libyan Presidential Council, President Baek stated, "Daewoo E&C entered Libya in 1978 and has since secured a total of 163 contracts worth $11.4 billion, executing various civil engineering, architectural infrastructure, and plant projects," adding, "As the domestic construction company with the largest track record in Libya, Daewoo E&C hopes for interest and support to contribute to Libya's reconstruction efforts."

Libya is a representative oil-producing country in Africa where post-war reconstruction projects are actively underway. Most of the country's infrastructure was either aged or destroyed due to the first and second civil wars. Based on its experience constructing various infrastructures such as the government complex, combined cycle power plants, 7,000-unit apartments in Benghazi, and Benghazi ring roads, Daewoo E&C plans to actively participate in Libya's reconstruction market.

Daewoo E&C is the domestic construction company with the largest achievements in Africa and has experience conducting projects across the entire African continent, including North African countries such as Libya, Morocco, and Algeria; West African Nigeria; Central African Botswana; and Ethiopia.

Daewoo E&C plans to diversify its business in existing hub countries like Nigeria and Libya while pioneering new markets such as Mozambique and Tanzania. A Daewoo E&C official stated, "As the absolute leader in Africa, Daewoo E&C will continue to secure various development projects and evolve into a global developer leader."