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.