In 2009, it won ten projects worth 4.8 billion dollars in eight countries and thus achieving a diversification of areas
The new growth dynamic focused on by SK Engineering & Construction (SK E&C) is the ‘multiplication of overseas business’. The company will promote sustainable development by actively entering overseas markets. Diversification of a company’s business portfolios is necessary in overseas market, too. Therefore, the company aims to construct a stable overseas business portfolio by entering diverse areas of civil engineering, construction, and plants rather than just increasing the number of overseas orders. A spokesperson from SK E&C said, “As the volatility of the global market becomes more visible, portfolio diversification can help stable growth.”
In Korea, the company is ceaselessly trying to supply well-being housing in order to satisfy customer demands. Its designs aim to increase service space and construct apartments featuring unique designs.
The company started to enter the overseas market last year. In 2009, it won ten projects worth 4.8 billion dollars in eight countries and thus achieving a diversification of areas. Furthermore, it entered diverse areas of civil engineering, construction, and plants. Its performance in plants is particularly eye-catching. The company won large projects in Kuwait and Saudi Arabia and is actively trying to excavate new markets. As a result, the company won an order to repair an oil-refining plant in Ecuador, helping it to secure a good business status in South America.
Meanwhile, the company is not sparing on technological investment. It has established a technology center to consistently invest in engineering, and plans to enter the area of basic design (FEED) in addition to design, purchase, and construction (EPC) in an attempt to lay the foundation for future growth.
The company has improved its design capacity by carrying out Australia’s natural gas liquidation facility, Kuwait’s gas separation plant, and conceptual design for small and medium-sized refineries. In addition, its cooperation with SK Energy, a subsidiary, has resulted in various experiences in the construction, management, repair and maintenance of oil and chemical plants.
The company’s winning of the basic design (260 million dollars) for a large refinery in Ecuador is a result of these continuous efforts. Basic design is a core area, the basis of all processing, and has been led by European and American companies. Furthermore, it will increase its capacity for risk management in line with global business expansion. There are many large projects sized between 1-2 billion dollars, revealing that strengthened risk management capacity comes before any other issue.
SK E&C is famous for the construction of well-being apartment houses. Yoon Seok-gyung, Vice President of SK E&C, emphasized that SK E&C is already famous for its brand, “View. ”
He said that the company has been constructing various types of well-being apartments all over the nation, including “Oryukdo SK View” in Busan. SK Chemicals Research Center, which acquired the first-degree energy efficiency for the first time, was constructed by SK E&C.
Yoon also takes pride in the currently distributed apartment housing, “Suwon SK Sky View”. The company applied 22 types of “Alpha Green,” which is the company’s well-being apartment technologies, to reduce management costs and increase the health index. He said, “3,498 houses in Suwon SK Sky View will be the largest housing complex supplied in the Gyonggi area this year and is likely to become the new landmark in this region.”
Yoon said that the most important elements to decide in the housing market in the latter half of the year would be product capacity and distribution price.