Daewoo Engineering wins 818 billion KRW mixed-use construction contract from Cheongna Smart City - representing about 10% of annual revenue with 55-month construction period

Daewoo Engineering has won a construction contract from Cheongna Smart City for the Cheongna International Business District M5 mixed-use development. The contract value is 818 billion KRW excluding VAT, representing 10.16% of the company's 2025 consolidated revenue.
The project involves building six towers with 49 floors above ground and 5 below, comprising 868 apartments, 987 officetels, and neighborhood facilities. The construction period is 55 months from the actual start date with progress payments. The contract was signed on July 7, 2026.
The counterparty, Cheongna Smart City, is a special purpose company with no special relationship to Daewoo Engineering. The contract amount and period may change per contract conditions.
This contract award contributes to securing stable revenue for Daewoo Engineering but does not directly affect stock price or capital structure.
[AI Summary]Daewoo Engineering secured an 818 billion KRW construction contract, representing over 10% of annual revenue. This is a normal operational achievement with no dilution or financial risk. It will not significantly impact short-term stock price but supports stable earnings.