쌍용건설

Ssangyong and Doosan are the 2 most outstanding companies in the overseas market this year

Even though other companies are flagging this year, Doosan Heavy Industries & Construction and Ssangyong Engineering & Constructions are making outstanding achievements this year overseas.

According to the industry sources, the average overseas amount of order per project for top 10 firms, including Samsung Construction&Trading, Hyundai Engineering & Construction, Doosan Heavy Industries & Construction, POSCO Engineering & Construction, Hyundai Engineering & Construction, GS Construction, Samsung Engineering, Daewoo Engineering & Construction, Ssangyong Engineering & Construction, and Daelim, was approximately 300 million USD. The average number of orders was 4.3 per firm.

On the other hand, in 2014, before the oil price ped low, the average order per firm was 11.5, and almost all firms had at least one projects worth over 1 trillion USD.

Even though the overseas market shrank, Doosan and Ssangyong had made remarkable gains.

Doosan Heavy Industries & Construction received new orders for overseas projectswith a total worth of USD 2,017.91 million, 2.2 times larger than USD 891.39 million last year.

Unlike other Korean heavy industries firms, Doosan makes its own main equipment. As the main equipment cost comprises a large portion of the overall project cost, and it decides the profitability of the project, the firm has to manufacture the main equipment to go after the world market. Analysis shows that the strategy to lower main equipment cost than those of Japanese firms in the Southeast Asian market, where the Japanese firms take hold of main equipment markets, seems to have worked.

While Ssangyong receiveda meager sum 35.39 million USD last year, it took staggering 636.65 million USD this year, a 18-fold increase in a year. It greatly excessed 142.86 million USD, four times larger than the amount Daelim had received this year.

After Investment Corporation of Dubai (ICD) took over Ssangyong last year, the firm is advancing in countries like UAE, Singapore, Iraq, and Equatorial Guinea. It now has the backing of Dubai, with old professionalism for high-end architecture still in hand.

On that matter, an inside source from Ssangyong said that "the speed of bidding in UAE went much faster after we had new owner," and "the various advantages are showing up now, such as the simplification of business practice.&rdquo