Hyundai Engineering & Construction Wins 3.04 Trillion KRW Wirye New Town Development Contract, 9.8% of Consolidated Sales, Securing Growth Engine

Hyundai Engineering & Construction has secured a construction contract from Songpa Biz Cluster PFV, where it is the largest shareholder, for the Wirye New Town Bogjeong Station Area Complex Development Project. The contract value is 3.039 trillion KRW, representing 9.8% of the company's 2025 consolidated revenue.
The project consists of two blocks: Block 2BL fully owned by Hyundai at 2.696 trillion KRW and Block 3BL with 70% stake at 343.3 billion KRW. The construction period is 55 months from the start date.
Although the counterparty is a related party due to Hyundai's largest shareholder status, the large-scale order provides stable revenue visibility. No capital dilution or shareholder return measures were announced.
[AI Summary]Hyundai Engineering & Construction wins a major complex development project, strengthening its revenue growth prospects. While the transaction is with a related entity, it represents genuine business expansion and is expected to enhance shareholder value over the long term.