쌍용건설

On August 11, a groundbreaking ceremony was held in Jakarta for the work on Plaza Indonesia Extension (Site Manager: Vice President Hwang In-Kang), which will open a new page in the history of luxury buildings in Indonesia.

Ssangyong Engineering & Construction won the contract for US $130 million last month, pushing aside a competitor, Shimizu, a leading construction firm in Japan. The Keraton (meaning a “Royal Palace”) complex will be comprised of a 41-story office building, a 47-story apartment building, and a 6-story shopping center in Tamrin Street, a high-class section of Jakarta. Upon completion of the work, the complex will be a landmark neighborhood like Roppongi Hills in Tokyo or Pacific Place in Hong Kong.

It is noteworthy that the Company became the successful bidder by presenting an alternative proposal based on its sheer technological prowess, despite Shimizu’s proposal for a drastic cut in the bidding price, in addition to slandering the Company.

Business watchers said that the Company would win the project due to its reputation, as a first-rate contractor and the Client’s deep trust in Chairman&CEO Kim Suk-Joon.

The ground-breaking ceremony was attended by Chairman&CEO Kim Suk-Joon, Architectural Division Head Choi Jang-Shik, International Investment Division Head Kim Seung-Joon, Auditor Moon Chul-Soo, Site Manager Hwang In-Kang, Korean Ambassador to Jakarta Lee Sun-Jin, Plaza Indonesia Realty (Client) President Director Rosano Barack, Jakarta Governor Sutiyoso and three hundred other people, including reporters.

At the ceremony, Jakarta Governor Sutiyoso was seen to help Site Manager Hwang In-Kang wear his safety helmet as a personally friendly gesture.

One day prior to the ceremony, Chairman&CEO Kim Suk-Joon paid a visit to the Company’s Jakarta Branch Office (Branch Manager Lee Hee-woon) and got briefed on the status of the ongoing work for Plaza Indonesia Extension and Southern Sumatra Highway. He also had lunch with Korean Ambassador to Jakarta Lee Sun-Jin and other Korean government officials, discussing ways of provision of support for the Company’s overseas business and the plan for building a new Korean embassy in that country. At the dinner meeting with Mr. Rosano Barack and other dignitaries, the Chairman exchanged opinions on the situation of the local market and other markets in the Middle East and Central Asia with them, asking for their assistance in the Company’s bid for winning new orders.

On August 11, the Chairman had dinner with employees at the Jakarta Branch Office and the local corporation, giving them pep talks.

The Company appears to have gained the momentum to restore its fame as a builder specializing in high-end buildings, putting behind an unhappy past related to the workout process. In addition to the Plaza Indonesia Extension Project, in January of this year the company also won a contract to build the seven-star class Ocean Front Condominium Project in Sentosa Island, Singapore. This is a high-end residence costing 6 million won per pyeong (=3.3㎡) for construction without heating facilities. ,

Since its establishment in 1977, the Company has won a total of 121 construction projects worth US $5.49 billion (= KRW 5.2 trillion) in seventeen countries.

In 1998, ENR Magazine ranked the Company No.2 in the world in the hotel building sector based on the record concerning its construction of a total of 10,000-plus hotel guestrooms. The Company has maintained an outstanding position in the sector, successfully securing its position as a world-class contractor specializing in high-end buildings, including hotels and apartments in the U.S., Japan, Singapore, Indonesia, Guam and Dubai.

(Photo) (From left) Mr. Takril, Commissioner for the Bimantara Group, Korean Ambassador to Jakarta Lee Sun-jin, Jakarta Governor Sutiyoso, Chairman&CEO Kim Suk-jun and Plaza Indonesia Realty President Director Rosano Barack