[Breaking] Samil Engineering & Construction Wins 61.6 Billion Won Contract for Changdong Yeomgwang Church New Sanctuary Construction... 72.34% of Recent Revenue
Sam-il Enterprise Co. has won a contract worth approximately 61.6 billion won for the construction of a new sanctuary for Changdong Yeomgwang Church. The company announced the contract signing in a regulatory filing on the 23rd. According to the filing, the contract amount is 61,618,181,818 won (ex
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Sam-il Enterprise Co. has won a contract worth approximately 61.6 billion won for the construction of a new sanctuary for Changdong Yeomgwang Church. The company announced the contract signing in a regulatory filing on the 23rd.
According to the filing, the contract amount is 61,618,181,818 won (excluding VAT), equivalent to 72.34% of the company's recent revenue of 85,177,109,801 won based on its 2025 financial statements. The contract counterparty is the Changdong Yeomgwang Church of the Presbyterian Church of Korea, and the construction site is located in Changdong, Dobong-gu, Seoul. The contract was signed on October 22, 2026, and the contract period runs from that date until May 10, 2029.
Regarding payment terms, the advance payment is 5% of the contract amount and will be paid upon submission of an advance payment guarantee insurance policy. Progress payments will be made every two months after deducting the advance payment settlement, and the completion payment of 5% of the contract amount will be paid within three months after the completion of test runs and handover. The sales and supply method was recorded as covering both in-house production and outsourced production.
Meanwhile, Sam-il Enterprise stated that, considering that the contract counterparty is a religious organization, the counterparty's recent revenue was not included in the filing.
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