Daewoo Engineering & Construction Wins 529 Billion Won Redevelopment Contract, 6.57% of Annual Sales

Daewoo Engineering & Construction has signed a construction contract with Daeshin Asset Trust for the redevelopment project in the Sinimun Station area. The contract value is 529.2 billion won excluding VAT, representing 6.57% of its 2025 consolidated sales of 8.0546 trillion won.
The project involves building 1,200 apartment units across seven buildings with underground 4 floors and ground 40 floors, plus community facilities in Dongdaemun-gu, Seoul. The construction period is 46 months from the actual start date with progress payments.
While the contract amount and period may change based on terms, this award strengthens Daewoo's order backlog. No capital dilution or balance sheet impact is expected since it is a standard construction contract.
[AI Summary]Daewoo Engineering secured a 529.2 billion won redevelopment contract, boosting its sales outlook without capital dilution. The counterparty Daeshin Asset Trust presents neutral governance risk, and the project supports steady revenue growth.