- Remarkable annual growth in urban improvement projects, securing contracts to develop in 5 sites including Busan and Bucheon this year
- Gradually made its presence known in public construction as well… holding high expectations for specialized projects such as Gadeokdo New Airport

- A Complete View of HJSC Namyeong Bldg.

HJ Shipbuilding & Construction (HJSC) has achieved notable success in the construction sector, securing winning bids in urban improvements and public constructions projects. The global construction company revealed its selection as the contractor for the Bucheon Shinhanil Apartment Housing Improvement and the Busan Daelim Beach Apartment Reconstruction through public announcements on March 27th and 28th.

The Bucheon Shinhanil Apartment Housing Improvement Project involves a KRW 65.4 billion contract aimed at constructing 216 apartment units located at #311-1, Samjeong-dong, Ojeong-gu, Bucheon-si, Gyeonggi-do. On the other hand, the Busan Daelim Beach Apartment Reconstruction entails a KRW 67.4 billion contract with a goal of constructing 197 apartment units situated at #1396-1, Jung-dong, Haeundae-gu, Busan.

With these recent contracts, the Korean construction company has now secured a total of 5 urban improvement contracts for the year. Specifically, the constructor secured the urban housing improvement contracts for Goejeong Area 2 and Dangni Area 1 in January, and for Goejeong Area 3 in March. The three areas will be developed collectively to establish HAEMORO TOWN.

With the addition of the two recent contracts (the Bucheon Shinhanil Apartment Housing Improvement and the Busan Daelim Beach Apartment Reconstruction), the total contract amount reaches approximately KRW 320 billion, exceeding half of the total contract value for urban improvements from the previous year within the first quarter.

HJSC's success stories continue in public construction. Traditionally, the multinational constructor has specialized expertise in public construction projects, including national infrastructure such as airports, harbors and roads. For instance, it secured contracts for projects such as the Ulsan fuel oil power plant units 4-6 decommissioning earlier this year, as well as the Namyangju Yangjeong Subway Station District Development & Tongil Road Bypass Construction and the Suseo-Gwangju Double Track Railway Section 3.

Entering April, HJSC also won the KRW 86.7 billion bid for the Busan-Jinhae Free Economic Zone (BJFEZ) Myeongji Area II Construction, bringing the total orders for this year to approximately KRW 800 billion. This surpasses half of the total contract amount from the previous year.

Industry reports suggest that the company has a promising outlook in terms of its order book as well. In particular, it is receiving significant attention from industries for the Gadeokdo New Airport Project, which has recently commenced its initial stages. In fact, HJSC has long demonstrated its excellence in airport construction. The company has played a leading role in 10 airport constructions out of a total of 16 domestic airports, starting from the Gimpo International Airport in 1971 to the ongoing expansion of the Incheon International Airport.

An official from HJSC stated, "We have experienced annual growth of over 20% in urban improvement projects for the past three years. Particularly in public constructions, we have consistently maintained a top ranking." He continued, "Above all, we aim to demonstrate our excellence in airport construction projects such as Gadeokdo New Airport, Daegu-Gyeongbuk New Airport and Saemangeum International Airport with the goal of maximizing our profits."

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HJ ShipBuilding & Construction Co. Ltd. published this content on 04 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2024 15:03:04 UTC.