Shinsegae Construction is rising more than 8% on news that it has won a contract for the construction of Starfield Cheongna worth 900 billion KRW.
As of 10:27 AM on the 1st, Shinsegae Construction is trading at 15,420 KRW, up 8.44% (1,200 KRW) from the previous trading day.
The stock price surge is due to the contract win. Shinsegae Construction announced on the 28th of last month that it had won a contract for the construction of 'Starfield Cheongna' worth 923.8 billion KRW. The construction cost is 822.7 billion KRW, of which 101.1 billion KRW is for electrical work. The total contract amount corresponds to 61.5% of Shinsegae Construction's sales (1.5026 trillion KRW).
The Starfield building will be constructed in Cheongna-dong, Seo-gu, Incheon, with three basement floors and eight above-ground floors. Construction is scheduled to begin in August, with completion expected in December 2027.
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