Daewoo E&C wins W868.6b contract for Yongin semiconductor industrial complex

Daewoo Engineering & Construction disclosed Monday that it had been selected as the winning bidder for Zone 1 of the Yongin advanced system semiconductor cluster national industrial complex project, commissioned by the Korea Land and Housing Corporation (LH).

According to Daewoo E&C, its consortium scored 310.8 points in the project plan evaluation conducted under a construction management at risk (CMR) framework.

The project involves developing a complex and related structures spanning approximately 3.45 million square meters across Idong-eup and Namsa-eup in Yongin, Gyeonggi Province — a large-scale national undertaking. The zone accounts for roughly 44 percent of the entire Yongin semiconductor national industrial complex site and is the largest construction contract LH has issued this year. The total contract value is 868.6 billion won ($642 million), excluding VAT, of which Daewoo E&C's share as lead contractor — at 48 percent — comes to approximately 416.9 billion won, also excluding VAT.

Daewoo E&C has built up its large-scale civil engineering capabilities and public project management expertise through a wide range of work with LH over the years. The company has led seven LH-commissioned public housing projects involving private-sector participation over the past three years. Having demonstrated both public-sector accountability and strong private-sector construction and project management capabilities, the consortium said it presented a differentiated project plan that earned high marks in this evaluation.

In the residential sector, Daewoo E&C has successfully carried out large-scale public-private development projects commissioned by LH, including the Gwacheon Knowledge Information Town. The company has also participated in major urban renewal projects led by LH, among them the Seongnam Sujin District 1 redevelopment, the Cheonho A1-1 zone public redevelopment project won this year, and the Sangdo District 15 redevelopment. Daewoo E&C said it will continue to supply quality housing in prime locations, contributing to improved living environments and greater housing stability.

Daewoo E&C has been actively pursuing major national infrastructure projects — including the Gadeokdo New Airport site development and the Hongcheon pumped-storage hydropower plant — to strengthen its position in large state-led undertakings. Through these projects, which support the expansion of national transport networks and energy infrastructure, the company is accumulating technical expertise and project management know-how in large-scale infrastructure work. Building on this foundation, it plans to pursue a broader range of national projects aimed at expanding critical infrastructure and establishing a base for advanced industries.

Meanwhile, the Daewoo E&C consortium, designated as the negotiated contractor for the Gadeokdo New Airport site development, submitted its basic design plan to the government earlier this month. If feasibility reviews and other procedures proceed smoothly, the company expects to break ground on the priority construction phase before the end of the year and begin the main construction work in the first half of next year, accelerating the overall project timeline.