Gyeryong Construction Wins Consecutive Contracts from LH and Defense Acquisition Program Administration... Totaling 195.3 Billion KRW

Gyeryong Construction Industry has signed two public construction contracts.

Gyeryong Construction Industry announced on the 26th that it has signed a contract for the Goyang Janghang S-1BL Apartment Construction Project Section 5 with Korea Land and Housing Corporation (LH).

This contract is for the construction of an apartment complex consisting of 12 buildings with 869 units, ranging from one basement floor to 29 above-ground floors, and auxiliary welfare facilities in Goyang City, Gyeonggi Province. The contract period is from the 25th of this month until December 18, 2027.

The total contract amount for this project is 165.5 billion KRW, and since Gyeryong Construction Industry holds a 50% stake, the actual amount secured by the company is 82.7 billion KRW. The contract payment will be made in stages according to the progress of the construction through a progress payment method.

Additionally, Gyeryong Construction Industry announced on the same day that it has signed a contract with the Public Procurement Service (demand agency: Defense Acquisition Program Administration) for the construction of the Defense Acquisition Program Administration building.

This project will take place in Daejeon Metropolitan City. The contract period is from today until August 25, 2028.

The total contract amount for this project is 228.2 billion KRW, and reflecting Gyeryong Construction Industry's stake of 49.35%, the secured amount is 112.6 billion KRW. The contract payment will be partially received upfront and then progressively according to the construction progress.