Daewoo Engineering has secured a contract for a new multi-family housing project worth 310 billion won in the Songjeol 2 district of Cheongju, North Chungcheong Province.
On August 19, the Financial Supervisory Service's electronic disclosure system reported that Daewoo Engineering signed a construction contract with Nasun Co., Ltd. for the "Cheongju Songjeol 2 Urban Development Area A1 Block Multi-Family Housing Construction Project" the previous day. The contract amount is 312.65 billion won, which represents approximately 3.88% of the company's consolidated revenue from last year.
This project involves the development of multi-family housing and associated facilities in the Songjeol-dong area of Cheongju. The contract is with a corporation related to the project implementation, and the construction period and contract amount may change depending on future permits and project progress.
Songjeol 2 district is one of the urban development sites adjacent to the Cheongju Technopolis. The city has previously planned to supply 4,751 multi-family housing units and semi-residential facilities through the Songjeol-dong urban development projects 1 to 4. The Songjeol 2 area was formerly the site of a livestock market, and it is reported that the developer has received consent for relocation and land use from the agricultural cooperative.
The Songjeol-dong area is gaining attention as a new residential area due to the expansion of the Technopolis and the demand from the surrounding industrial complex. In particular, Cheongju Technopolis is being developed as a region that combines industrial facilities, such as SK Hynix, with residential and commercial functions, leading to expectations for increased housing demand in the vicinity.
A construction industry official stated, "The Cheongju Songjeol district is expected to see residential demand due to its location linked to the Technopolis."
* This article has been translated by AI.
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