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GS Engineering & Construction Secures KRW571.7 Billion Construction Order; Shares Down 4%

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GS Engineering & Construction (KRX:006360) has secured a 571.7 billion won construction order for the Munbae Business District complex development project in Seoul, according to a bourse filing on Thursday.

The project involves building four residential towers, two officetels, one business facility, and retail space on a site in Yongsan-gu, with a 54-month construction period starting from the actual commencement date.

The contract was awarded by DSD Samho, and the agreement, effective July 15, remains subject to potential adjustments in cost and timeline based on the final construction terms.

Shares of the company declined nearly 4% in late-morning trade Friday.

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