쌍용건설

A consortium joined by Ssangyong E&C won a turn-key order worth KRW 270 billion on September 26th from SH Corp., the Seoul Metropolitan Government-run construction company, to build a large-sized commercial building in southern Seoul. Ssangyong Engineering has a 30 percent stake(or KRW 81 billion) in the consortium.

The contract called for the consortium to build a 10-story building in Seoul’s southern district of Songpa with a total of 1,297 shops for machine tools, bearings, metal goods, pipes and fire safety equipment. The construction has begun in October 2006 and will be finished by the end of 2008.

With the contract, Ssangyong E&C became the only builder to win two large-scale turn-key projects from the Seoul government. Previously, a consortium joined by Ssangyong E&C won an order to build the city government’s new headquarters.
In the meantime, total spending for the new commercial building is expected to top KRW 1 trillion because the project will build a total of 6,138 shops, offices and facilities in the complex.