Samhwan Corporation, a construction subsidiary of SM Group, has once again demonstrated its competitiveness in public sector projects by securing a contract for the upgrade of the aging Miho River Bridge.
On July 28, Samhwan Corporation announced that it has been selected as the contractor for the renovation of the Miho River Bridge, located in Osong-eup, Cheongju, Chungcheongbuk-do, which connects Jochiwon and Naepan. The bridge, completed in 1938, spans a total length of 440 meters.
The project involves demolishing the existing single-span bridge and constructing a new double-span bridge in its place. The total project cost is 1.309 trillion won, with Samhwan Corporation holding a 70% stake. As demand for upgrades to aging infrastructure like the Miho River Bridge continues to rise, the company's expertise and technical capabilities in civil engineering are expected to gain further recognition, especially as it marks its 80th anniversary this year.
Previously, Samhwan Corporation has successfully completed projects such as the Ieon Overpass (254 billion won) and the Noan Bridge (278 billion won), showcasing its strengths in bridge renovation.
Additionally, the company has taken on projects including soundproof facilities in Yongin-Seoul (367 billion won), soundproof facilities in Namsa-Dongtan (440 billion won), road construction in Nongsogangdong (1.137 trillion won), and a residential complex in Shinnae (1.518 trillion won), accumulating a total of 5.049 trillion won in public project contracts over the past two years. Its overall order backlog has now surpassed 1 trillion won (1.143 trillion won).
A representative from Samhwan Corporation stated, "We are striving to enhance profitability and achieve balanced growth by simultaneously conducting our own construction projects alongside civil engineering projects such as bridges and roads. We will establish a solid management approach focused on revenue stability while responding thoroughly to changes and risks in the construction industry."
Founded in 1946, Samhwan Corporation entered the domestic construction industry following the Korean War, starting with national reconstruction projects. Major facilities constructed by the company include the Walkerhill Hotel, Shilla Hotel, and the Supreme Prosecutors' Office.
* This article has been translated by AI.
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