CrowdWorks Secures 1.1 Billion KRW Contract with Busan Regional Public Procurement Service for Next-Gen System Development
CrowdWorks has entered into a contract with the Busan Regional Public Procurement Service for the construction of a next-generation information system, valued at 1,114,374,456 KRW, which accounts for 10.63% of its 2025 consolidated revenue.
The contract originates from a project initiated in December 2024, where CrowdWorks replaced a bankrupt consortium member. The counterparty is a government agency, ensuring low credit risk.
The contract is a fixed-price agreement without advance payment, with a term from July 2026 to June 2027.
[AI Summary]This contract win contributes moderate revenue and demonstrates CrowdWorks' capability in public sector projects. However, the size relative to market cap is modest, and the inclusion due to a consortium member default limits transformative potential.