[Edaily Reporter Ham Ji-Hyun ] DaewooEngineering&Construction secured orders totaling over 2 trillion won in September alone, winning contracts not only for urban renewal projects in Seoul and apartment complexes in regional areas but also for large-scale public civil engineering projects. The company is enhancing its competitiveness by securing a stable volume of orders based on its housing business while diversifying its portfolio with projects such as the construction of the Yongin National Semiconductor Industrial Complex.

According to the construction industry on the 1st, DaewooEngineering&Construction signed contracts totaling 1.9557 trillion won for five housing projects in September.

In particular, orders for urban renewal projects in Seoul stood out. The contract values for four urban renewal projects in Seoul alone—the Jeonnong Urban Environment Renewal Project (636.1 billion won), the Sanggye District 2 Housing Redevelopment Project (413.4 billion won), the Cheonho A1-1 District Public Redevelopment Project (372.0 billion won), and the Sindap Station Area Redevelopment Project (290.8 billion won)—totaled approximately 1.7123 trillion won. In addition, the company secured a contract worth 243.4 billion won for a new apartment construction project in the Taehwa District of Andong.

When combined with DaewooEngineering&Construction’s share of approximately 416.9 billion won resulting from winning Bid Section 1 for the construction of the Yongin Advanced System Semiconductor Cluster National Industrial Complex, the total value of major contracts and bids secured in September amounts to approximately 2.3726 trillion won.

A notable aspect of these contract wins is that the company secured both urban renewal projects and public works projects. The company explains that both types share the common characteristic of having relatively stable profitability.

A DaewooEngineering&Construction official stated, “Urban renewal projects offer greater sales stability than typical new housing developments because the number of units allocated to cooperative members is already secured,” adding, “The same applies to public projects, as they are commissioned by the government or public institutions, which also guarantee payment for construction costs.” Furthermore, analysts suggest that the company’s expansion into public and industrial infrastructure—beyond its previous focus on housing—signals promising future growth potential.

Amid this trend, large-scale civil engineering projects and overseas plant projects—which are viewed as future growth engines—are also drawing attention. A prime example is the site preparation project for the Gadeokdo New Airport. The Ministry of Land, Infrastructure and Transport and the Gadeokdo New Airport Construction Corporation are pushing to break ground on the priority construction phase in November, and DaewooEngineering&Construction, a preliminary candidate for a direct contract, has submitted its basic design and is proceeding with follow-up procedures.

In addition, the company is pursuing major projects such as the Dukovany Nuclear Power Plant in the Czech Republic, the Papua New Guinea LNG project, the Indorama Fertilizer Plant in Nigeria, and the Mozambique LNG project. In light of this, the company has raised its annual target for new orders this year from the original 18 trillion won to 27 trillion won.

Market reaction has also been positive. Kim Do-yeop, an analyst at Yuanta Securities Korea, stated, “Since the 9 trillion won increase reflects only about half of the five projects in the pipeline, I view this as a conservative upward revision,” adding, “There is a strong possibility that the company will exceed its order intake forecast.”

In addition, the company is actively exploring the AI data center business. DaewooEngineering&Construction has formed a task force (TF) dedicated to this area and is actively pursuing new contracts. The company is pursuing plans to expand its business model beyond simple construction to include early-stage project development and equity participation.

A DaewooEngineering&Construction official said, “Securing 2 trillion won in orders in September is a positive sign. We view this as a steady demonstration of results, given that we have raised our order target for this year,” and added, “We will also actively pursue a strategy to diversify our business structure to secure future growth engines.”