The latest News
Ssangyong E&C, Giant in Overseas Construction, Continues to Build Global Landmarks
Ssangyong E&C is a prestigious name in overseas construction. The company’s completion of a series of global landmarks has made the prowess of the Korean construction industry known around the world. Helmed by Chairman and CEO S. Joon Kim, who travels the world to win over potential clients and clinch new contracts, the company has been focusing its efforts on overseas construction markets.
Thus far, Ssangyong E&C has secured a total of 167 projects in 21 countries, including Singapore, Saudi Arabia, the UAE, the USA, Equatorial Guinea and Japan. Currently, the company is involved in 26 projects totaling USD 13 billion in eight countries.
The representative landmark built by the company remains the Marina Bay Sands Hotel in Singapore, also dubbed “the architectural miracle of the 21st century.” The construction of this mega hotel featuring 2,561 rooms in three buildings was initially abandoned by major global contractors as they were unable to suggest appropriate construction methods and ways to reduce the overall construction period. Against this back, Ssangyong E&C accepted the contract and completed construction on the project in 2010.
The company also has an outstanding track record in Dubai. Over the course of 23 years since 1997, it has secured 13 projects totaling USD 2.2 billion, including six ongoing projects.
The company first entered the Dubai market in 1997 by winning a construction tender for the Jumeirah Emirates Towers Hotel. It was the first joint venture project between a Korean and a European contractor, and the hotel was the world’s third tallest building at the time of its completion.
In 2002, the company once again successfully delivered the Grant Hyatt Dubai, thereby securing a firm footing in the Dubai construction market. At the time, the Jumeirah Emirates Towers Hotel and Grand Hyatt Dubai, both built by Ssangyong E&C, along with one other hotel, were considered the three leading hotels of Dubai.
In 2015, the Investment Corporation of Dubai (ICD) became Ssangyong E&C’s largest shareholder, which gave the company an opportunity to once again leap forward. “Based on ICD’s financial resources and planning ability and our construction expertise, we will continue to make an even bigger impact on the global construction market,” a company official said.