Daewoo E&C Moving to Re-enter U.S. Construction Market


Jung Won-ju (far left), vice chairman of Jungheung Group, and Han Seung (second from left), head of new business promotion at Daewoo E&C, pose for a photo after signing an MOU with T. J. Gilmore (third from left), mayor of Lewisville, and Claire Powell (far right), deputy mayor of Lewisville, at the city council building.



Daewoo Engineering and Construction (Daewoo E&C) announced on May 5 that it will re-enter the U.S. construction market in earnest based on synergies with Jungheung Group, its parent company.

From April 30 to May 9, Jungheung and Daewoo E&C executives, including Jungheung vice chairman Jung Won-joo, visited Texas of the United States to understand the local housing market and signed an MOU with related organizations.

In particular, they met with officials from Lewisville, a city located north of Dallas, Texas, on May 3 (local time) and signed an MOU on comprehensive cooperation related to real estate development, at the city council building.

Han Seung, head of new business promotion at Daewoo E&C, and T. J. Gilmore, mayor of Lewisville, signed the MOU to build a mutually beneficial cooperative relationship in real estate investment and development projects.

Apart from the signing of this MOU, the Daewoo E&C delegation visited Austin, Frisco, Lockhart, and Carrolton, cities in Texas to meet with city officials and take a look at candidate project sites and local conditions.



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