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GS Engineering & Construction Secures KRW637.4 Billion Construction Contract

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GS Engineering & Construction (KRX:006360) said it secured a 637.4 billion won construction contract with Suyeong 1 Redevelopment and Maintenance Project Association, according to a Thursday filing with the Korea Exchange.

The contract for the Suyeong 1 Redevelopment Project in Busan covers the construction of eight apartment buildings with three basement levels and 42 above-ground levels, comprising 1,533 residential units, along with ancillary welfare facilities.

The contract is effective for 46 months from the construction's start date, and payments will be made from the proceeds of unit sales.

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