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Ssangyong E&C’s ‘The Platinum’ Brand Prevails Again

2020-08-01

Two Years Since the Launch of the Brand, the Company Secures the Largest Construction Contract for a Single Apartment Complex

Amid the adverse circumstances surrounding the domestic construction industry, a situation mainly brought on by the COVID-19 pandemic, Ssangyong E&C has successfully secured the largest apartment construction contract of the year, a feat befitting the company’s nickname “the leader in construction.” Helmed by Chairman and CEO S. Joon Kim, the company has been ed as the sole contractor for the construction of the largest single apartment complex, only two years since the launch of its “The Platinum” brand. Worth a whopping KRW 290 billion, the project involves the construction of 14 apartment buildings (B2-35F) in Gongdo-eup, Anseong, Gyeonggi Province.

According to industry consensus, Ssangyong E&C’s winning of the contract resulted from the added value of the housing brand “The Platinum,” as demonstrated by the fact that all of the brand’s general presale units for the first half of the year were sold out during the first round.

Indeed, this year, the company surprised the industry by selling all of the 5,622 units (3,600 for general presale) offered across nine “The Platinum” apartment complexes in Seoul, the Seoul Capital Area, Busan, Daegu and other regions, as well as all mixed-use building units and officetel (the Korean term for studio apartments) units.

Furthermore, Ssangyong E&C’s ranking in the construction capability evaluation rose four spots, from 32nd place (KRW 1.2547 trillion) last year to 28th place (KRW 1.4504 trillion) this year. Since Ssangyong E&C has firmly established a foothold in the housing business, the company expects that it will be able to expand housing offerings under the “The Platinum” brand while enhancing the value of the brand.

Chairman and CEO S. Joon Kim’s deep trust and affection for employees is also setting a good example. In April, when all flights to and from Equatorial Guinea were canceled due to the outbreak of the COVID-19 pandemic, he ensured the safe return of the Korean staff members working in Equatorial Guinea by helping them secure seats abroad a chartered Spanish plane. Since all domestic travel within Equatorial Guinea was banned by the country’s government at the time, his expedient response is thought to have contributed greatly to ensuring the firm’s Korean workers remained safe from the threat of COVID-19.