Hyundai Engineering (President Kim Wi-chul) has reconfirmed its position as the nation’s best engineering company this year once again. The company announced on Aug. 4 that it has ranked 26th in the Top 225 International Design Firms rankings published by U.S.-based construction and engineering magazine Engineering News Record (ENR), seven places up from 33rd last year.
After taking 76th place in 2007, Hyundai Engineering has achieved sustained growth and rose up the rankings to more than twice the number in nine years. Also, the company has become the nation’s top engineering company.
After posting US$94.40 million (109.88 billion won) in overseas design sales in 2007, the company has seen dramatic increases and reached US$750 million (873 billion won) in 2014. The figure is eight times higher than that of 2007.
In particular, Hyundai Engineering is the highest-ranking Asian firm this year again, surpassing leading engineering companies in Japan and China. An official from Hyundai Engineering said, “Such achievement was possible because the company successfully won large plant EPC projects in Uzbekistan and Turkmenistan by actively opening new markets. With a strategy to selectively obtain profitability-oriented high value-added projects, we will keep strengthening our status as a global engineering firm in the future.”
As Hyundai Engineering has received overseas construction projects worth US$5.22 billion (6.08 trillion won), in the first half of this year, the company has topped the list of domestic construction companies in terms of the total amount of overseas construction, continuing to thrive.
The Top 225 International Design Firms is a ranking conducted by ENR, a weekly magazine that provides news, analysis, and data about the construction and engineering industry worldwide published by U.S.-based The McGraw-Hill Companies, Inc. Every year, ENR grades relevant companies based on design sales a year earlier in countries other than its home country.
In the 2015 ENR overseas design firm sector, a total of 12 Korean engineering firms, including Hyundai Engineering, was surveyed. At the end of Aug., ENR will announce the 2015 ENR International Contractors rankings.