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The year kicks off with overseas orders in Dubai, sustaining the surge in international contracts since 2022

Revenues hit KRW 1.8 trillion, with operating profit projected to reach approx. KRW 60 billion after three further years’ growth

Capital reinforcement strengthens financials, delivering three consecutive profitable years and reducing the debt ratio to the mid-150 percent level

After joining the Global Sae-A Group in December 2022, overseas contracts and three consecutive years of improved performance saw Ssangyong Engineering & Construction (Ssangyong E&C) achieve financial stability, in what was a decisive accelerated growth phase.

At the start of this year, the company generated fresh momentum in overseas markets through major international projects. These include the Avenue Park Towers development in Dubai, commissioned by UAE state-owned real estate developer WASL, and valued at USD 250 million (approximately KRW 370 billion), alongside another KRW 100 billion construction project in Equatorial Guinea.

Consequently, approximate overseas order figures rose sharply from USD 121 million (KRW 112.1 billion) in 2022 to USD 650 million (KRW 938.4 billion) in 2025, an eightfold increase. This growth demonstrates Ssangyong E&C’s restored standing and revitalized competitiveness in the overseas construction sector.

Following its integration into the Global Sae-A Group, the company launched a full-scale expansion program targeting key overseas regions, securing high-value projects with its focused strategy. Alongside core markets in Singapore, Dubai, and Equatorial Guinea, Ssangyong E&C plans to further leverage synergies with the Global Sae-A Group and actively pursue new business in Central America.

Ssangyong E&C’s domestic business performance has likewise shown a clear upward trajectory over the past three years. In the building construction sector, December completion of the ASML Hwaseong Campus was valued at approximately KRW 300 billion . Capitalizing on its strong reputation in domestic and overseas remodeling, the company continued expanding and secured contracts for the exhibition hall at 63 Square in Yeouido, and the Banyan Tree Hotel restoration project in Busan. Furthermore, the company plans nationwide delivery of approximately 6,000 new apartment units in 2026.

The company also very actively pursued new orders in the civil engineering sector, and earlier this year was appointed to deliver two sections of the Southern Inland Railway, a project with an overall value of approximately KRW 450 billion. Furthermore, with its eye on renewable energy projects, Ssangyong E&C also established a dedicated Energy Business Team this year.

Thriving domestic and overseas business helped boost the company’s order backlog by nearly 50 percent, from KRW 6.335 trillion in 2022 to over KRW 9 trillion in 2025.

Accelerated Performance Improvement and Enhanced Financial Stability

Joining the Global Sae-A Group has positively driven Ssangyong E&C’s business performance. Expansion in large-scale overseas construction, and the stabilization of its domestic and international business, raised revenue and operating profits across three consecutive years.

2025 revenue is expected to climb further, from KRW 1.5831 trillion in 2022 to around KRW 1.8 trillion. Operating profit, which recovered to KRW 31.8 billion in 2023, increased to KRW 42.6 billion in 2024 and is projected to hit approximately KRW 60 billion in 2025, again marking three consecutive years of profitability.

These improvements have been largely driven by capital reinforcement measures, including a KRW 150 billion capital injection from the Global Sae-A Group in 2023, and the issuance of KRW 50 billion in hybrid capital securities in 2024. These measures, alongside growth in high-value orders, rigorous project management, and structural improvements, were key factors in reinvigorating performance. Ssangyong E&C’s debt ratio is now expected to decline substantially, from 753 percent at the end of 2022 to a mid-150 percent range by completion of 2025 financial statements.

Healthy performance and financial indicators have improved Ssangyong E&C’s construction capability ranking by ten places over the past three years, jumping to 23rd overall. Amid continued expansion in domestic and overseas orders, and its stable financials, the company expects this ranking to improve further. Ssangyong E&C’s highest historical ranking was 7th place, in 1994 and 1995.

March Recruitment of Approximately 30 New Employees to Support Future Growth

To sustain growth, in March Ssangyong E&C will recruit approximately 30 new entry-level employees across a wide range of departments, including construction, civil engineering, plant engineering, electrical, mechanical, safety, sales, and management. By identifying and nurturing talent, the company can bolster its global competitiveness and lay solid foundations for an even brighter future.