Top Builder in the Country

Daewoo E&C gets away with the honor in evaluation of capability to undertake projects

Daewoo Engineering and Construction Co. clinched the top spot in the construction capability evaluation conducted by the Korea Construction Association for 11,585 construction companies in the country at the end of last year, the association announced recently.
The association evaluated the construction record, financial conditions, technical capability and others of the construction firms to arrive at their construction capability.
The association also reviewed the value of construction projects performed by those companies, management value, technical evaluation value and the degree of public trust in the evaluation.
Samsung E&C came in the second place and Hyundai E&C third. Daewoo E&C owed its performance to the increase in its construction record, and profit, raising its management result evaluation and increases in its own capital.
Samsung E&C came on top in the construction performance area for the first time, although it gave up the top place in the construction performance evaluation.Hyundai E&C, in the meantime, retained its first place position in the technology sector, although it fell to the third place in the evaluation of overall construction performance capability due to its small capital scale,
which brought its management evaluation value down. GS E&C climbed a step up from 5th to 4th thanks to a surge in its construction projects, while SK E&C jumped to 9th from 11th last year, making the top 10 list for the first time.
Doosan Industrial Development retained the 10th place ranking in the projects won, but slipped five places to the 15th due to accounting irregularity, which cut its performance record evaluation by one/third.
Residential housing builders emerged strong in the construction capability evaluation due to slow reduction of construction projects including redevelopment projects from its peak in 2003 with 45 trillion won in value, down to 35.70 trillion won in 2004 and 43 trillion won in 2005.
In the area of construction project types, Daewoo E&C took top place in the sector of civil engineering work such as bridges, highways and railroads, while Hyundai took first place in the sector of harbor projects. Lotte E&C was the largest builder of residential houses, with Daewoo E&C coming on top in the sector of commercial building construction. GS E&C placed first in the industrial construction sector.
Samsung E&C turned out to have the largest number of technicians with 2,943, followed by Hyundai E&C with 2,836 and GS E&C with 2,682. Daewoo E&C followed with 2,505 and Daelim Industry with 2,224.
In the meantime, total construction capability evaluation amount came to 150.6 trillion won for 2006, up 12 percent from last year.
The construction capability evaluation system take into consideration various factors to evaluate a construction firm's capability to undertake construction projects successfully each year based on such factors as management conditions, technical capability, and public trust. This serves as a guide to selecting a construction firm for construction projects. nw

Park Sei-heom, president of Daewoo Engineering & Construction Co.

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