KRX:047040

Daewoo Engineering & Construction Secures KRW356 Billion Construction Contract in Seoul

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.

Daewoo Engineering Receives Preferred Contractor Notice for Papua LNG Project

Daewoo Engineering & Construction (KRX:047040) said it received the notice of selection as preferred bidder from TotalEnergies for the central processing facility and well pads for the Papua LNG project in Papua New Guinea.The project covers independent engineering, procurement, construction, and commissioning of the CPF and wellpads, which will produce feed gas for the new Papua LNG liquefaction terminal, according to a Tuesday filing with the Korea Exchange.

South Korean Shares Extend Selloff for Second Day, Kospi Plunge Nearly 6% on AI Spending Concerns

South Korean equities plummeted for a second straight session on Wednesday, driven by an accelerating selloff across major technology and semiconductor holdings over concerns regarding artificial intelligence investment returns.The Korea Composite Stock Price Index, or Kospi, decreased by 360.42 points, or 6%, to end at 5,663.24. The Kosdaq also declined by 43.17 points, or 6.1%, to close at 662.68.The market slide overshadowed positive economic indicators released Tuesday by the Ministry of Culture, Sports and Tourism. South Korea welcomed 1.99 million foreign tourists in June, rising 23.1% from a year ago, the Ministry of Culture, Sports and Tourism said Tuesday.The total number of foreign tourists reached 10.71 million in the first half of 2026, up 21.3% year over year, the government agency said.Foreign credit card spending hit 2.54 trillion won in June, bringing the total to more than 10 trillion won in the first half.In corporate news, Daewoo Engineering & Construction (KRX:047040) was removed as a contractor for the Gangnam Wonhyoseong villa housing redevelopment project, according to a Tuesday filing with the Korea Exchange.Shares of Daewoo Engineering & Construction fell nearly 11% at market close.

Daewoo E&C Removed from KRW339 Billion Gangnam Redevelopment Project; Shares Plunge 11%

Daewoo Engineering & Construction (KRX:047040) has been removed as a contractor for the Gangnam Wonhyoseong villa housing redevelopment project, according to a Tuesday filing with the Korea Exchange.The contract was valued at 338.7 billion won. The company did not disclose a reason for the revocation of the contract. It intends to initiate legal proceedings, including filing a lawsuit, in connection with the revocation, the filing said.Shares of Daewoo Engineering & Construction fell nearly 11% in recent trade.

Tech Sell-Off Drags South Korean Equities Down, Triggering Circuit Breakers

South Korean stocks plunged on Tuesday as a sharp sell-off in semiconductor heavyweights dragged the benchmark KOSPI down over 10%, triggering market-wide circuit breakers. Shares of major market movers Samsung Electronics (KRX:005930), SK Hynix (KRX:000660), and LG Energy Solution (KRX:373220) declined 13%, 15%, and 6%, respectively.The Korea Composite Stock Price Index, or Kospi, decreased by 732.09 points, or 10.8%, to end at 6,023.66. The Kosdaq also declined by 59.01 points, or 7.7%, to close at 705.85.In economic news, South Korea's consumer sentiment improved in July, with the Composite Consumer Sentiment Index rising 0.2 points to 106.8, according to data from the Bank of Korea on Tuesday.The reading compared with the 106.6 level recorded in the previous month. A reading above 100 indicates optimism, while a reading below suggests a deteriorating outlook.Inflation expectations for the upcoming 12 months fell 0.1 percentage point to 2.7%.In corporate news, Daewoo Engineering & Construction (KRX:047040) secured a contract worth 273 billion won from Korea Electric Power (KRX:015760) subsidiary Korea South-East Power for the design, procurement, and technical support for a heat and power plant.Under the contract, Daewoo Engineering & Construction will supply gas and steam turbine generators, heat recovery steam generators, and related equipment for the Songsan combined heat & power plant in Gyeonggi province's Hwaseong, according to a Tuesday filing with the Korea Exchange.The contract runs from July 27, 2026, to Nov. 30, 2029.Shares of Daewoo Engineering & Construction plunged 12% at market close, while those of Korea Electric Power fell 7%.

Daewoo E&C Wins KRW273 Billion CHP Equipment Contract from Korea South-East Power; Shares Decline 13%

Daewoo Engineering & Construction (KRX:047040) secured a contract worth 273 billion won from Korea Electric Power (KRX:015760) subsidiary Korea South-East Power for the design, procurement, and technical support for a heat and power plant.Under the contract, Daewoo Engineering & Construction will supply gas and steam turbine generators, heat recovery steam generators, and related equipment for the Songsan combined heat & power plant in Gyeonggi province's Hwaseong, according to a Tuesday filing with the Korea Exchange.The contract runs from July 27, 2026, to Nov. 30, 2029.Shares of Daewoo Engineering & Construction plunged 13% in recent trade, while those of Korea Electric Power fell over 6%.

Daewoo Engineering Wins KRW 1.44 Trillion Seoul Redevelopment Contract

Daewoo Engineering & Construction (KRX:047040) has been selected as the main contractor for the Sangdo District 15 housing redevelopment project in Seoul, with a total contract value of approximately 1.437 trillion won.The project involves constructing 30 apartment buildings with up to 35 stories and 3,207 units, along with retail facilities, on a site in Dongjak-gu, according to a bourse filing on Monday.The contract amount represents about 17.8% of the company's consolidated revenue for fiscal year 2025.

Daewoo E&C Wins KRW529.2 Billion Urban Housing Redevelopment Project

Daewoo Engineering & Construction (KRX:047040) secured the Shinimun station area long-term Jeonse housing urban redevelopment project from Daishin Asset Trust, according to a Thursday filing with the Korea Exchange.Under the project, valued at 529.2 billion won, the company will build seven apartment buildings with four basement levels and 40 above-ground floors, comprising 1,200 apartment units and ancillary facilities, the filing said.The contract value, duration, and other terms may be adjusted in accordance with the construction agreement.Shares of Daewoo Engineering & Construction fell nearly 7% at market close.

Mirae Asset Securities Upgrades Daewoo Engineering & Construction to Buy from Hold; Price Target is KKRW24,000

Daewoo Engineering & Construction (KRX:047040) has an average rating of overweight and mean price target of 31,437.50 won, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Daol Securities Upgrades Daewoo Engineering & Construction to Buy From Hold; Price Target is KRW24,000

Daewoo Engineering & Construction (KRX:047040) has an average rating of overweight and mean price target of 33,562.50 won, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Daewoo Engineering Secures KRW387.6 Billion Construction Contract

Daewoo Engineering and Construction (KRX:047040) secured a 387.63 billion won contract from the Gyeonggi Housing & Urban Development Corp, according to a filing with the Korean bourse on Friday.Shares of the company rose nearly 2% in morning trade on Friday.The contract involves the construction of a mixed-use complex, including knowledge industry facilities, offices, and dormitories, consisting of 4 basement levels and 12 above-ground floors, the filing said.Construction of the project is expected to end on Oct. 31, 2031, according to the filing.

Mirae Asset Securities Downgrades Daewoo Engineering & Construction to Hold from Buy; Price Target is KRW35,000

Daewoo Engineering & Construction's Net Income Jumps 248% in Q1; Shares Jump 16%

Daewoo Engineering & Construction (KRX:047040) posted first-quarter net income attributable to shareholders of 194.3 billion won, up 248% from 55.9 billion won a year earlier, according to a Tuesday filing with the Korea Exchange.The South Korean construction firm's sales fell 6% year over year to 1.951 trillion won from 2.077 trillion won.Shares of the company jumped over 16% in recent trade.

Daewoo Engineering & Construction Secures KRW1.268 Trillion Housing Project

Daewoo Engineering & Construction (KRX:047040) secured the Shinheung District 3 public-participation redevelopment project, valued at 1.268 trillion won, from Korea Land and Housing Corporation, according to a Thursday filing with the Korea Exchange.The project includes 3,584 housing units across 24 residential buildings, and is slated for completion in 54 months from the start date of demolition works, the filing said.