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HS Hwasung Wins KRW55.5 Billion Cheongwon Mansion Small-Scale Reconstruction Project

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HS Hwasung (KRX:002460) secured a 55.54 billion won construction contract from the Cheongwon Mansion Small-Scale Reconstruction Project Association, the construction company said in a Tuesday filing with the Korean Exchange.

The contract covers the construction of a 37-story apartment complex with two basement levels, comprising 140 residential units and related amenities and welfare facilities in the area of ​​162 Hwanggeum-dong, Suseong-gu, Daegu Metropolitan City.

Construction is expected to take 35 months from the actual commencement date, after the demolition of existing structures and removal of debris at the project site, the filing said.

Shares of HS Hwasung fell nearly 2% at market close.

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