Kolon Global Achieves Record Construction Orders of 4.2 Trillion Won... Non-Residential Sector Leads Growth

2.3 Trillion KRW in Building and 1.9 Trillion KRW in Infrastructure Last Year

Kolon Global recorded the highest-ever new orders in the construction sector last year.

Kolon Global announced on the 13th that the total new orders in the construction sector last year reached 4.2 trillion KRW. This includes 2.3 trillion KRW in the building sector and 1.9 trillion KRW in the infrastructure sector. This amount increased by more than 1 trillion KRW compared to the previous year, surpassing the record high of 3.6569 trillion KRW set in 2022.

Kolon Global Gyeonggi Gwacheon-si Office Building Exterior. Kolon Global

In particular, orders in the non-residential sector amounted to 2.3 trillion KRW, accounting for more than half of the total orders. This figure has been increasing annually from approximately 800 billion KRW in 2021, 1.1 trillion KRW in 2022, to 1.6 trillion KRW in 2023. It has more than doubled in two years.

Kolon Global is accelerating organizational efficiency and expanding recruitment, influenced by the strengthening of the non-residential sector and strong new orders. In December last year, the company established the High-Tech Business Division focusing on enhancing competitiveness in order acquisition, strengthening industrial construction orders and construction management functions.

Along with the strengthening of the non-residential sector, the company is also increasing workforce recruitment. Following the hiring of 62 new and experienced employees in 2022, 63 in 2023, the company recruited 83 employees last year. This year, recruitment is expanding mainly in the High-Tech Construction Team and High-Tech Technical Management Team to broaden the scope of the non-residential sector.

The order backlog last year was 13.8 trillion KRW, securing more than five years’ worth of work based on the previous year’s sales. This is also the highest amount ever recorded.

However, performance was sluggish. Kolon Global disclosed on the 10th that it posted an operating loss of 45.5 billion KRW last year, turning to a deficit. Sales increased by 9.8% year-on-year to 2.9041 trillion KRW.

A Kolon Global official said, "Despite difficult conditions last year, we achieved high-quality new orders in various sectors such as urban maintenance and non-residential construction. Based on the record-high order backlog, we will continue to secure stable sales and sustain growth."