Ssangyong E&C Strengthens Under Sae-A Ownership

SEOUL, South Korea, Feb. 9, 2026 /PRNewswire/ -- Since joining the Global Sae-A Group in December 2022, Ssangyong Engineering & Construction (Ssangyong E&C) has achieved financial stability and entered a phase of growth momentum, driven by expanded overseas orders and sustained performance improvement over the past three years.

The company opened the year with renewed momentum in international markets, securing several major overseas projects. These include the USD 250 million Avenue Park Towers development in Dubai, commissioned by UAE state-owned real estate developer WASL, as well as a construction project in Equatorial Guinea valued at approximately USD 74 million.

As a result, overseas orders increased more than eightfold, rising from USD 121 million in 2022 to USD 650 million in 2025. This sharp growth reflects Ssangyong E&C's restored standing as a recognized overseas contractor and its renewed global competitiveness.

Following its integration into the Global Sae-A Group, Ssangyong E&C launched a focused expansion strategy targeting key overseas regions, enabling the company to secure high-value projects more consistently. In addition to its core markets in Singapore, Dubai, and Equatorial Guinea, the company is pursuing new business opportunities in Central America, leveraging group-wide synergies.

Domestic operations have also delivered a clear upward performance trend over the past three years. In the building construction segment, Ssangyong E&C successfully completed the ASML Hwaseong Campus project in December, valued at USD 220 million. Building on its strong track record in domestic and overseas remodeling projects, the company secured additional premium contracts, including the 63 Square Exhibition Hall renovation in Yeouido and the Banyan Tree Hotel restoration project in Busan. The company also plans to deliver approximately 6,000 new apartment units nationwide in 2026.

In the civil engineering sector, Ssangyong E&C expanded its order pipeline by securing two sections of the Southern Inland Railway earlier this year, a project with a total value of USD 330 million. The company also established a dedicated Energy Business Team to expand into renewable energy projects.

Supported by strong domestic and overseas project wins, Ssangyong E&C's order backlog increased by nearly 50%, rising from USD 4.7 billion in 2022 to more than USD 6.7 billion in 2025.

Accelerated Performance Improvement and Enhanced Financial Stability

Since joining the Global Sae-A Group, Ssangyong E&C has recorded a clear and sustained improvement in business performance. Expansion in large-scale overseas projects and the stabilization of its domestic and international portfolio have driven steady growth in both revenue and operating profit for three consecutive years.

Revenue is expected to increase from USD 1.17 billion in 2022 to around USD 1.3 billion in 2025. Operating profit returned to profitability in 2023 at USD 24 million, increased to USD 32 million in 2024, and is projected to reach approximately USD 44 million in 2025, securing a third consecutive year of profitability since joining the group.

These improvements were largely driven by capital reinforcement measures, including a USD 110 million capital injection from the Global Sae-A Group in 2023 and the issuance of USD 37 million in hybrid capital securities in 2024. Combined with increased high-value project wins, rigorous project management, and structural improvements, these measures significantly strengthened the company's financial foundation. As a result, Ssangyong E&C's debt ratio is expected to decline sharply, from 753% at the end of 2022 to the mid-150% range following the completion of its 2025 financial statements.

Improved performance and financial stability have also translated into higher external evaluations. Over the past three years, Ssangyong E&C's construction capability ranking rose by 10 places, reaching 23rd overall. With continued expansion in domestic and overseas orders and a strengthened financial structure, the company expects its ranking to improve further.

March Recruitment of Approximately 30 New Employees to Support Future Growth

To support its continued expansion, Ssangyong E&C plans to recruit approximately 30 new graduate employees in March across a wide range of functions, including building construction, civil engineering, plant engineering, electrical, mechanical, safety, sales, and management.

*2025 financial figures are preliminary and subject to final audit.