Dongbu Construction secures $370 mn in new orders in Q1

[Courtesy of Dongbu Construction Co.]

Dongbu Construction Co. has secured new orders worth 500 billion won ($370 million) in the first quarter of this year, the company said on Friday.

All of the orders are non-residential building projects.

Dongbu Construction began the year by winning a solo contract for the Korea National Football Center and has since won a total of seven projects, including the Yeocheon Port Nakpo Wharf Reconstruction project in Gwangyang, South Jeolla Province.

In particular, the company obtained 200 billion won worth of orders from the plant business sector on the back of its efforts to diversify its portfolio amid the sluggish housing market.

Dongbu Construction’s order backlog now stands at about 9 trillion won, with last year’s total orders amounting to 2.3 trillion won. Dongbu Construction expressed optimism about this year’s performance, citing a tendency for public works to increase in the second half of the year and a balanced order achievement across various sectors so far.

“By selectively securing contracts in high-potential areas, we are actively ensuring profitability in a challenging market environment,” the company said.