Kumho Construction is expanding its construction business by broadening its project scope beyond residential and mixed-use developments to include advanced industrial facilities.
On September 10, Kumho Construction announced that it has secured contracts for the KINTEX parking complex project, the Jangji parking lot redevelopment, and the construction of Samsung Electronics' Flakt factory in South Korea.
The KINTEX parking complex project, for which Kumho was selected as the final bidder on August 31, involves the construction of a parking facility with one basement level and eight above-ground levels in Daehwa-dong, Ilsanseo-gu, Goyang City. The total project cost is approximately 56.3 billion won (including VAT). Kumho will act as the lead contractor with a 60% stake, with construction set to begin in September and completion expected by November 2028.
In July, Kumho secured the Jangji parking lot redevelopment project, commissioned by the Seoul Housing and Communities Corporation (SH), with a total project cost of about 350.6 billion won (including VAT). Kumho will also serve as the lead contractor with a 50% stake, maintaining the existing functions of the Jangji bus terminal while developing 658 public housing units, community facilities, and green spaces.
Additionally, in August, Kumho Construction signed a contract with Samsung Electronics for the construction of the Samsung Electronics Flakt factory. This project involves establishing a domestic production facility for the Flakt Group, which Samsung acquired. The factory will be located in Buk-gu, Gwangju, with a total floor area of 23,588 square meters, including a main HVAC (Heating, Ventilation, and Air Conditioning) plant, office space, storage, laboratories, and rest areas.
A Kumho Construction official stated, "We are continuing to achieve success in various construction sectors and expanding our business portfolio. We aim to strengthen our competitiveness in existing core areas while expanding into high-growth sectors like advanced industrial facilities to secure new growth engines for our construction business."
Meanwhile, Kumho Construction reported consolidated revenues of 965 billion won and an operating profit of 28.6 billion won for the first half of this year. While revenues decreased by 3.4% compared to the same period last year, operating profit increased by 30.6%. During the same period, the cost ratio improved from 94.6% to 93.2%, and the company plans to enhance profitability through selective bidding and cost management.
* This article has been translated by AI.
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