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GS Engineering and Construction Bags Disputed KRW1.92 Trillion Construction Project

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GS Engineering and Construction (KRX:006360) secured a 52-month construction Sangdaewon 2 District Housing Redevelopment Project worth 1.922 trillion won, according to a Tuesday filing with the Korean Exchange.

The scope of the project includes the development of 4,885 apartments across 43 buildings and auxiliary welfare facilities.

Additionally, the contract was awarded to the company after the granter of the award terminated its contract with an existing contractor.

The company expects legal proceeding and has not yet signed a definitive agreement.

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