Ssangyong Engineering & Construction is seeking to actively excavate a new growth engine for 2010 under the company’s new management slogan, “The New Future, Green Ssangyong.” Continuing from the company’s efforts in 2009, Ssangyong will continue to focus on its strength in overseas’ projects as well as targeting the domestic housing market and public construction sector.
For its environmentally-friendly construction sector, Ssangyong is striving to obtain an accreditation from LEED (Leadership in Energy & Environmental Design) of the United States and is planning to actively promote developments of green homes, new renewable energy and zero-energy buildings. The BIM (Building Information Modeling), a three-dimensional design method introduced and partially applied in 2009, will be expansively applied to all parts of design in 2010, strengthening the company’s competitiveness in the global market.
The company’s overseas construction sector, which accounts for more than 40% of the company’s total sales, is expected to come to fruition. Overseas orders such as city development projects, high-end housing and social infrastructure projects in North Africa and the Middle East are expected to surge this year. In Singapore, Ssangyong’s major market, the company will continue to focus on the construction of high-end buildings, such as landmark hotels and hospitals along with civil engineering projects, considered to be one of the most difficult areas of the industry.
The company is also planning to expand its housing project sector by supplying 2,500 homes in 2010 as well as concentrating on expanding its projects in Seoul and the surrounding areas. The company has been proven to possess the highest quality technology in its remodeling sector following the successful completion of numerous projects. The company is planning to concentrate on securing large-scale projects based on the CM (Construction Management) method in new towns and cities adjacent to Seoul. In the public sector, the company will also target railroad construction, with orders expected to surge following the government’s environmentally-friendly policies.
Since its establishment in 1977, Ssangyong Engineering and Construction has been solidly building its reputation in the global construction industry with 132 construction projects completed in 19 countries, including the U.S., Japan, Singapore, Indonesia and the Middle East, receiving orders equivalent to US$7.8 billion in total. The company was ranked No. 2 in ENR, the Construction Magazine of the U.S. in the hotel construction sector. Ssangyong has also constructed 8,000 bed hospitals and high-end hotels boasting 13,000 guest rooms. The company also constructed Swissotel the Stamford Singapore which is in the Guinness Book of Records for being the world’s tallest hotel and the Raffles City Complex, a Singapore landmark. In the late 1980’s, the company planned, designed and constructed the Marriott Hotel in Anaheim, U.S.A, Korea’s first overseas investment and development project.
In the late 1990’s the company entered Dubai’s construction market as a pioneer and successfully constructed two of the most famous hotels there; the Jumeirah Emirates Towers Hotel and the Grand Hyatt Dubai Hotel, leading the way for other Korean construction companies to enter the construction market in Dubai. Ssangyong has set goals to expand overseas market by strengthening its current market and pioneering in new ones. While in Singapore the company will continue to focus on its strengths of high-end construction and civil engineering, it also plans to expand existing civil engineering projects in India, Indonesia and Pakistan.