1 Hyundai E&C Cumulative Orders for Urban Redevelopment Projects Exceed 5 Trillion Won for the First Time
The amount of orders for domestic urban renewal projects received by Hyundai E&C this year stood at 4.8251 trillion won, which led Korea’s primary builder to enter the “four-trillion-won club” for two consecutive years as the amount of orders received during the period of 2021 reached all-time high. A winning streak started on December 18 as the builder took deals to redevelop or refurbish Seongyeong
3 Roadside Houses in Daechi, Gaenari Jugong Complex 13 in Sanbon, Gojan Row Houses 3 in Ansan, and Shinmyeongdongbo Apartment in Suwon. This year’s figure is higher than 4.7383 trillion won in the previous year, which is attributable to the company’s efforts to build up a variety of portfolios in 20 project sites. Notably, Hyundai E&C strengthened its capability to conduct urban renewal projects by establishing a dedicated team for conducting projects in the urban renewal department and separating project implementation from order winning. The team becomes responsible for project risk management, enabling the marketing team to focus only on achieving new orders.
2 Hyundai E&C receives FEED order for petrochemical complex in Indonesia
Participating in the first stage of planning and development of global petrochemical complex Hyundai E&C’s will participate in Front-End Engineering Design (FEED) process for the second petrochemical complex, named CAP 2–PKG A, of Chandra Asri, the Indonesia’s private petrochemical producer.
FEED is a key stage of reviewing the feasibility of basic engineering design for an EPC order to establish a detailed construction plan. For the FEED process, Hyundai E&C will cooperate with Toyo Engineering. This order winning is all the more meaningful in that Hyundai E&C has been recognized for our technological capabilities and know-how in the global market by taking part in the first stage of planning and development of the world-class petrochemical complex.
The CAP2 petrochemical complex will be located in the Cilegon region, about 116 kilometers away from Indonesia’s capital Jakarta, and produce naphtha crackers, butadiene, polyethylene, polypropylene and benzene. Chandra Asri, the country’s largest petrochemical company, will select an EPC firm after the completion of the basic design.
“In spite of the global economic recession due to COVID-19, we received the basic design (FEED) order in recognition of our technological prowess and plant construction know-how,” an official of our company said. “We will do our utmost to use this opportunity to win EPC orders to come in the future.”
Meanwhile, Hyundai E&C successfully completed a total of 25 projects, valued at 3.1 billion dollars, such as the Sarulla geothermal power plant, after we tapped into the Indonesian market in 1973 to build the Jagorawi Toll Road. Currently, Hyundai E&C is working on conducting two projects in the county.
3 Donation of light safety helmets for children
Hyundai E&C is conducting a wide range of corporate social responsibility (CSR) activities at the end of this year with an aim to prevent safety-related accidents for happening to children and provide support for underprivileged people.
Hyundai E&C donated about 2,800 light safety helmets for children to several elementary schools located in Busan. This is a follow-up project of the memorandum of understanding (MOU) on CSR activities signed in last April, which was conducted jointly with Construction Association of Korea and Plan Korea.
4 Development of remote site management platform using smart devices
Hyundai E&C has developed a platform for remote site management for the first time in the domestic market, managing construction sites in real time with the help of unmanned drones and smart glasses.
Previously, access to different systems was required to integrate construction data, which made it difficult to manage construction sites in real time. However, the use of this new platform linked to drones and smart glasses enables users to manage construction sites in a three-dimensional way through utilizing video clips and three-dimensional data. The users can identify workers’ safety in real time and take prompt actions in case of accidents by connecting 360-degree cameras and CCTV footage with various smart devices. The new platform has been successfully test-operated for one of our urban development projects conducted in Gyeongju.
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