Top Builder Honor for Daewoo E&C

Kumho-Asiana affiliate repeats the feat this year in terms of its capability

Kumho-Asiana Group has climbed new heights as the country's strongest construction group with its affiliates and Daewoo Engineering and Construction and Kumho Engineering and Construction taking the top and the 10th spots in the government's evaluation of domestic construction firms'building project undertaking capabilities.
Daewoo E&C won the coveted place for the second time in a row this year, following its similar honor won last year, writing a new history for the top construction firm active at home and overseas for the first time since its foundation 34 years ago. This year is more significant because it is the first such honor for the company since its take over by Kumho-Asiana Group early this year. The company's operation has been more stabilized since its affiliation with the conglomerate, securing for itself a stable growth base.
The Ministry of Construction and Transportation evaluates the construction undertaking capabilities of domestic construction companies every year and this year the ministry analyzed the projects, financial conditions, management, technology capability, and trust degrees of 11,530 construction companies around the country and chose Daewoo as the top firm in the evaluation with the capability to undertake 7.883,5 trillion won worth of construction projects, followed in the second place by Samsung Corp's construction company with 6.815,3 trillion won, and GS Construction in third place with 6.160 trillion won. Hyundai came in the fourth place with 6.119 trillion won and Daelim Industry in the fifth place with 5.402 trillion won. Rounding up the top 10 companies on the list were POSCO Construction in the 6th place with the capability to undertake 4.639 trillion won worth of construction projects, in the 7th place was Hyundai Development with 4.409 trillion won, the 8th Lotte Construction with 4.016 trillion won, in the 9th SK E&C with 2.475 trillion won and in the 10th Kumho E&C with 1.990 trillion won. Samsung Corp's construction division again took the second place as it did last year with GS Construction jumping to the third place, up a step from last year ahead of Hyundai Construction in the fourth place, followed by Daelim in the 5th place, rounding up the top 5 on the list.
In the four sectional analysis, Samsung Construction came on top in the project undertaking sector, with Hyundai Construction taking the top place in the trust section, and Daewoo taking the top position in the management and technology capacity sections.
In the area of civil work, Hyundai Construction came on top with the completion of civil projects valued at 1.81 trillion won, followed by Daelim Industry with 1.23 trillion won and Daewoo Construction with 1.13 trillion won. In the area of building, Samsung Construction took the first place with 3.93 trillion won, followed by GS Construction in the second place with 3.11 trillion won and POSCO Construction in the third place with 2.87 trillion won. In the sector of industrial and environmental installations, GS Construction took the first place with 1.37 trillion won, Samsung Engineering second with 1.25 trillion won and Daewoo Construction with 1.25 trillion won in the third place.
Kumho-Asiana by taking over Daewoo E&C along with Kumho E&C has added a new growth engine to its already strong operations both at home and overseas. Daewoo Construction's H1 revenue came to 2.9 trillion won and operating profit 284.9 billion won, taking up one/third of the group's total sales and one/half of profit in the H1.
Daewoo E&C since its affiliation with Kumho-Asiana, has already won some 10 construction projects from the group including the construction of Kumho P & P plant and chemical plant projects to strengthen the group's petrochemical business sector to be competitive. Kumho E&C, too, has been benefiting from the synergy effect from the addition of Daewoo E&C, with its project orders rising 170 percent in the first half to rank the 4th in the industry. nw

President Park Chang-kyu of Daewoo Engineering and Construction Co.