[2024 Asia Construction Awards] K Construction, Creating Innovation

On the 25th at Korea Press Center, the 19th Asia Construction Awards Ceremony

Minister of Land, Infrastructure and Transport Award goes to Hyundai Engineering

Announcing the leading figures who have driven South Korea's construction industry forward

At the 19th annual 'Asia Construction Comprehensive Awards' this year, the honor of the Minister of Land, Infrastructure and Transport Award went to Hyundai Engineering. SK Ecoplant and POSCO E&C received the Seoul Metropolitan Mayor's Award, while Daewoo E&C was awarded the Overseas Construction Association President's Award. Nine construction companies, including Hyundai Engineering & Construction, Doosan Engineering & Construction, Kumho Construction, Hanyang Co., Booyoung Group, DL E&C, GS Engineering & Construction, HDC Hyundai Development Company, and Ssangyong Engineering & Construction, received the Asia Economy Representative Award.

Asia Economy held the 19th Asia Construction Comprehensive Awards ceremony on the 25th at the Korea Press Center, announcing the honored leaders who have been at the forefront of South Korea's construction industry.

The construction industry is experiencing one of its toughest years due to rising construction costs, decreased order volumes, and financial tightening. In this challenging environment, Korean construction companies are working harder to achieve better results. They are focused on pioneering overseas markets, developing new construction methods, enhancing apartment brand value, and discovering new revenue sources. Despite difficult management conditions, they are also committed to co-growth with small and medium-sized enterprises and social contribution activities to help those in need.

Industry stakeholders gathered on this day agreed that it is crucial to maintain a spirit of challenge and move forward, especially during difficult times. Among the 13 award-winning companies, there was a consensus that only design and innovative technology development that read social changes and the spirit of the times, along with original ideas, can overcome the current difficulties.

This year’s Asia Construction Comprehensive Awards judging reflected the atmosphere of construction companies striving to overcome crises and leap forward together. High scores were given to companies that fulfilled their original mission of enhancing building quality and competitiveness while realizing values such as pioneering new markets, technological innovation, and coexistence.

First, Hyundai Engineering, which received the 'Minister of Land, Infrastructure and Transport Award' in the overseas construction category, was recognized for its construction capabilities at the 'Poland SK Nexilis Copper Foil Plant.' Hyundai Engineering surpassed a cumulative overseas order amount of $70 billion (approximately 93 trillion KRW) by the end of August this year. It received favorable evaluations for building industrial infrastructure worldwide and securing mega projects that will mark a milestone in overseas construction history.

POSCO E&C developed apartment layouts reflecting social structural changes such as population aging and declining birth rates, winning the 'Seoul Metropolitan Mayor's Award' in the smart housing category. Another recipient of the 'Seoul Metropolitan Mayor's Award' was SK Ecoplant, which demonstrated a model corporate image growing together with the local community through its support project for the child care facility Seondeokwon in Jongno-gu, Seoul, earning the award in the social contribution category.

The 'Overseas Construction Association President's Award' was given to Daewoo E&C. The company was selected for successfully completing the longest Mumbai sea bridge project in India over 69 months, showcasing the strength of K-Construction.

A total of nine companies received the 'Asia Economy Representative Award.' Among them, four construction companies were awarded in the brand category. Hyundai Engineering & Construction was recognized for elevating its brand value through excellent design and a large-scale community in the 'Hillstate Pyeongtaek Station Central City' complex. Doosan Engineering & Construction has created a unique residential culture with its brand 'We’ve,' Kumho Construction stood out for launching a new residential brand 'Atera' in Goyang, Gyeonggi Province, and Hanyang Co. was acknowledged for establishing a new landmark in the Gimpo area with 'Hangang Sujain Obcent.'

DL E&C, awarded the 'Asia Economy Representative Award' in the customer satisfaction category, was praised for improving residents' quality of life with 'e-Pyeonhansesang Myeongdeok Station First Mark.' GS Engineering & Construction, selected in the win-win cooperation category, was notable for its efforts in co-growth through 'financial support for partner companies and establishing fair subcontracting transaction order.' HDC Hyundai Development Company received the landscaping award for leading the development of eco-friendly residential culture with 'Pohang IPARK.' Ssangyong Engineering & Construction won the remodeling category award by showcasing excellent patented construction methods and new technologies through 'Songpa The Platinum.'

The Asia Construction Comprehensive Awards, hosted by Asia Economy, are supported by the Ministry of Land, Infrastructure and Transport, Seoul Metropolitan Government, Korea Construction Association, Overseas Construction Association, Korea Research Institute for Human Settlements, Korea Institute of Construction Industry and Economy, and Korea Real Estate Development Association.