DL E&C Wins 429.2 Billion KRW Gangnam Reconstruction Project... Dogok Gaepo Hanshin to Be Revamped

Reborn as a Large-Scale Complex with 3 Basement Levels and 35 Above-Ground Floors
Proceeds Paid Without Down Payment... 5.16% of 2024 Sales
Strengthening Position in Gangnam Area... Accelerating Expansion of Urban Maintenance Business Portfolio

DL E&C has secured a reconstruction project in Gangnam, Seoul. On April 25, DL E&C announced that it had signed a construction contract with the Dogok Gaepo Hanshin Apartment Reconstruction Maintenance Project Association for the 'Dogok Gaepo Hanshin Apartment Housing Reconstruction Maintenance Project.' The contract amount is 429.2 billion KRW, and the construction period is set at 45 months from the commencement date.

The apartment complex is located in the area of 123 Eonju-ro, Gangnam-gu, Seoul. It is an aging complex with 620 units, completed in 1985. Through reconstruction, it will be transformed into a large-scale apartment complex consisting of seven buildings, each with three basement levels and up to 35 floors above ground.

DL E&C was selected as the contractor for this project in August 2024. After discussions with the association, the company is now moving forward with the project following the signing of this contract. Payment will be made from proceeds such as sales revenue, and there will be no separate down payment or advance payment. The company stated, "The contract amount and duration may be subject to change depending on the progress of the construction."

This order is a large-scale project, equivalent to 5.16% of DL E&C's consolidated sales in 2024. It is expected to help strengthen the company's position in the Gangnam reconstruction market. Meanwhile, DL E&C is also actively pursuing orders at various reconstruction and redevelopment sites throughout the Seoul metropolitan area outside of Gangnam, accelerating efforts to enhance its brand value and expand its urban maintenance business portfolio.