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Daewoo Engineering & Construction Secures KRW356 Billion Construction Contract in Seoul

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Daewoo Engineering & Construction (KRX:047040) secured a 355.6 billion won construction contract for the Cheongpa District 1 Housing Redevelopment Project in Seoul, South Korea, according to a Thursday filing with the Korea Exchange.

The contract covers the construction of seven apartment buildings with 646 units, and the buildings will have six basement levels and 25 above-ground floors.

Construction will be completed within 49 months from the actual start date, with payments to be made from proceeds of the presales.

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