Jung Wonju, Chairman of Daewoo E&C, Accelerates North American Real Estate Development

[Financial News] Chairman Jung Wonju of Daewoo E&C has embarked on pioneering the North American market this time.
Daewoo E&C announced on the 4th that Chairman Jung, along with executives and employees, visited Texas, USA from September 1st to 3rd.
Chairman Jung visited Dallas, Texas, and the site of the 'Prosper' development project being promoted by 'Orion Real Estate Capital'. This company is actively engaged in residential real estate project development in Texas. Currently, they are pursuing the Prosper mixed-use development project, which includes townhouses, housing, hotels, and offices in Dallas.
Daewoo E&C is paying attention to the fact that Texas continues to attract corporate relocations due to benefits like corporate tax incentives. They have been reviewing it as a promising region for entering the North American development business and have been preparing to launch their first project in Prosper, north of Dallas.
According to the company, the Prosper development project being promoted by Orion Real Estate Capital is considered a stable investment destination due to its excellent location. A business agreement for joint project cooperation was also signed locally.


Chairman Jung stated, "Daewoo E&C has participated in about 20 development projects in the US market as a financial investor in the past and achieved results. In the future, we want to participate as a substantial developer, not just a simple financial investor, together with Jungheung Group," and added, "This business agreement will be a good opportunity to showcase the experience and strength of K-Construction."
Meanwhile, Daewoo E&C established a local corporation in New York in 2023 and dispatched a resident officer in the same year to expand business and investment in the North American region, seeking real estate development and business investment opportunities. 




ljb@fnnews.com Lee Jongbae Reporter