Hyundai E&C won the 'Top of Overseas Construction' award with a cumulative total of over $140 billion at the overseas construction $1 trillion order celebration.
Hyundai E&C noted on the 30th that it received the 'Top of Overseas Construction' award as the only corporation to surpass $100 billion in cumulative orders during the 'Overseas Construction $1 Trillion Order and 60th Anniversary Ceremony' held on the 29th at the Construction Hall in Nonhyeon-dong, Gangnam-gu, Seoul.
It also became the most selected for the 'Top 10 Overseas Projects' dedicated to symbolic overseas projects.
This event, hosted by the Korea Overseas Construction Association and sponsored by the Ministry of Land, Infrastructure and Transport, was organized to celebrate the achievement of surpassing $1 trillion in overseas cumulative orders and the accomplishments of domestic construction firms over the past 60 years.
Prime Minister Han Duck-soo, who is acting on behalf of the president, Jin Hyun-hwan, the first vice minister of the Ministry of Land, Infrastructure and Transport, Chairman Han Man-hee of the Korea Overseas Construction Association, along with officials from relevant organizations, CEOs and employees of major construction corporations attended.
Since Hyundai E&C won its first overseas project for the Pattani Narathiwat Highway in Thailand in 1965, the domestic construction industry has made its way into the overseas market, becoming the third industry to surpass $1 trillion following semiconductors and automobiles, driving economic growth as a key national industry.
At the ceremony, Hyundai E&C secured total orders exceeding $14.62 billion by executing over 850 projects in more than 60 countries. In recognition of this achievement, Lee Han-woo, CEO of Hyundai E&C, received the Top of Overseas Construction award. The cumulative amount of overseas orders by Hyundai E&C accounts for 14.5% of South Korea's total overseas order cumulative amount.
Hyundai E&C also listed a total of four projects in the Top 10 Overseas Projects selected to commemorate 60 years of overseas construction. They are: ▲ Pattani Narathiwat Highway (Thailand) ▲ Jubail Industrial Port (Saudi Arabia) ▲ South Pars Gas Field (Iran) ▲ Barakah Nuclear Power Plant (UAE).
The selection criteria for the projects included ▲ order amount and economic contribution ▲ technological innovation and construction difficulty ▲ enhancement of national brand and international status ▲ social and economic ripple effect.
Hyundai E&C not only engaged in overseas construction but also ventured into the Thai market during a time when they had no experience in highways, constructing the first international-standard highway and the Gyeongbu Expressway. They successfully completed the Jubail Industrial Port, standing out in a maritime structure market dominated by advanced companies in the Middle East.
A representative from Hyundai E&C said, "Hyundai E&C's unique overseas performance was achieved based on the bold spirit of challenge that has been passed down since the late founder Chung Ju-yung," adding, "We will continue to strive toward $20 trillion in overseas orders while expanding South Korea’s construction horizon."