GS E&C wins 641.5 billion KRW construction contract for Ansan Seongpo mixed-use development - equivalent to 5.15% of annual revenue, 52-month project
GS E&C has signed a construction contract with Woori Asset Trust for the Ansan Seongpo mixed-use development project. The contract value is 641.5 billion KRW excluding VAT, representing 5.15% of its 2025 consolidated revenue.
The project involves building four apartment towers of 49 stories with 984 units, two officetel towers with 370 units, and other facilities over a 52-month construction period from actual start date.
[AI Summary]This contract win strengthens GS E&C's order backlog and supports future revenue growth. However, cost management and schedule adherence for such a large project remain key execution risks.