Daewoo Construction has secured an 818-billion-won contract to build a large-scale residential and commercial complex in the Cheongna International Business District in Incheon.

In a regulatory filing on the 8th, Daewoo Construction announced that it has signed a contract with Cheongna Smart City Co., Ltd. for the construction of the Cheongna International Business District M5 Mixed-Use Complex.

• [Key Contract Details]
• Contract Amount: 818.056 billion won (excluding VAT)
• Proportion of Revenue: 10.16% of the most recent consolidated revenue (8.05462713785 trillion won) as of the end of 2025
• Project Location: 86-1 Cheongna-dong, Seo-gu, Incheon and surrounding areas

This project consists of a total of six buildings ranging from five underground floors to 49 above-ground floors. It is a large-scale development that will include 868 apartment units, 987 officetel rooms, and neighborhood commercial facilities.

The contract date for the construction is July 7, 2026, and the project will be carried out over a total of 55 months from the actual commencement of work. Under the contract terms, a down payment and advance payment will be made, and construction payments will follow a progress-based payment method.

Daewoo Construction added that the contract amount and duration may be subject to change in accordance with the terms of the construction contract.