▲(From left) Changjae Lee, CEO of Woori Asset Trust, Jinhak Jung, CEO of Dongyang
Dongyang, an affiliate of the Eugene Group, is stepping up to strengthen urban regeneration and redevelopment projects in line with the government’s plans to expand housing supply.
Dongyang announced on the 5th that it has signed a’Memorandum of Understanding (MOU) for the Housing Development Maintenance Project’ with Woori Asset Trust, a comprehensive real estate finance subsidiary of Woori Financial Group, for the successful promotion of urban regeneration projects.
The signing ceremony, held at Woori Asset Trust headquarters in Samseong-dong, Seoul, was attended by key officials from both companies, including Dongyang CEO Jeong Jin-hak and Woori Asset Trust CEO Lee Chang-jae.
Through this agreement, Dongyang and Woori Asset Trust plan to share related information for stable real estate development such as urban regeneration projects and small-scale maintenance projects, and cooperate with each other to promote joint projects.
Dongyang has been actively winning orders in the field of various construction industry solutions and construction platform services, including transportation facilities such as roads, waterways and ports, as well as social infrastructure such as culture, education, and environment.
Last month, a consortium with Kolon Global and Samchully ENG was formed, and the total construction amount ordered by the Seoul Metropolitan City Infrastructure Headquarters was approximately KRW 120 billion. Won the order.
In addition, at the end of last year, it is showing prominence in the recent urban renewal project, such as participating in the’New Gwanghwamun Plaza Construction Project’, a project that integrates Sejong-daero in Gwanghwamun in Seoul and creates a square where citizens can rest and walk in a vehicle-oriented urban structure.
Dongyang CEO Jeong Jin-hak said, “We are expecting the market for urban regeneration and small-scale redevelopment and maintenance projects to become more active thanks to the government’s housing supply policy.” “We will spare no effort and support to complete a successful business model with Woori Asset Trust. I said.