Chinhung International Inc Selected as Constructor for Busan Myeongjang-dong Housing Redevelopment Project, Contract Amount 85.2 Billion KRW

Chinhung International Inc has been selected as the constructor for the street housing redevelopment project in Myeongjang-dong 29-27, Dongnae-gu, Busan. The developer is Hana Asset Trust Co., Ltd. The estimated contract amount is 85.17 billion KRW excluding VAT, representing 14.78% of recent annual sales of 576.38 billion KRW.
The construction period is 36 months from the actual start date, and the project involves building 262 apartment units and neighborhood living facilities. The board resolved on July 6, 2026.
[AI Summary]Chinhung International secured a 85.2 billion KRW housing redevelopment contract, strengthening its revenue base. The credible counterparty Hana Asset Trust ensures stable cash flow generation, positively impacting the stock price outlook.