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Samsung C&T keeps No. 1 spot in builder rankings

By Yonhap

Published : July 31, 2023 - 11:11

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Samsung C&T Corp. has been named the top builder in South Korea for 10 straight years in terms of building capacity, government data showed Monday.

Samsung C&T, a construction affiliate of top conglomerate Samsung Group, took the leading slot among the 77,675 local construction firms evaluated, according to the Ministry of Land, Infrastructure and Transport.

Samsung C&T's construction capacity was valued at 20.73 trillion won ($16.3 billion), easily beating runner-up Hyundai Engineering & Construction Co., with an estimated capacity of 14.98 trillion won.

The building capacity of each firm is based on actual construction projects that each company secured over the past three years, along with an estimated value of their technologies and financial stability.

Daewoo Engineering & Construction Co. took third place with an estimated capacity of 9.77 trillion won, up from sixth place a year earlier.

Hyundai Engineering Co., the construction arm of top automaker Hyundai Motor Group, followed with a capacity of 9.74 trillion won, trailed by GS Engineering & Construction Co. with 9.59 trillion won.

The annual ranking is designed to help those placing new construction orders decide which firm may be the best fit for the job.

It is also used to determine which firms will be eligible for orders placed by the state procurement office, while top-ranked builders are also barred from bidding for government projects that are deemed too small for them. (Yonhap)