KOREA DEVELOPMENT CORPORATION

KOREA DEVELOPMENT CORPORATION

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Company Overview
Korea Development Corporation is a public company engaged in the provision of construction and engineering services principally in South Korea. The company was established in March 1965. Its registered head office is located in Anyang City, Republic of Korea. The company is traded on the Korea Stock Exchange under the stock 004200.
Korea Development serves as one of the leading companies in the construction industry in South Korea. The company operates its business in seven categories: Civil Works, involved in the construction of major highways, roads, railways and subways; Architecture, involved in the design and accurate construction of offices, schools, commercial buildings, industrial facilities, and others; Housing, involved in the construction and renovation of commercial and residential complex; SOC, involved in private-capital projects such as roads, railways, harbor, environment and light rail transit; Environment, involved in environmental projects such as water supply, sewate treatment, waste water treatment, waste treatment and others; Steel Structure, involved in the design and construction of steel bridges; and Development, involved in the development of real estates.
Korea Development’s vision is to be the affluent construction company with global competitiveness. The company strives to become a leading RTE (real time enterprise) by establishing a mobile business environment and activating knowledge database in the era of rapidly developing information technology.
Korea Development Corporation operates as one of the principal subsidiaries of Daelim Industrial Co., Ltd., a public industrial enterprise which was incorporated in October 1939 and is involved in the general construction of buildings and civil engineering works.
Business Summary
Firm’s sales fell, due to new launching of SOC project delay according to public sector budget enforcement and turnkey and general engineering works construction delay. Firm’s profitability declined, because of cost to sales ratio rise, deriving from raw material price hike in the private sector SOC and housing sectors, and loss on disposition of inventories for site formation construction of Cheonan general service area. Firm’s sales in the engineering works account for more than 50%, and the firm has strength in the private sector SOC market. Firm’s biz revenue recovery is likely to gradually conducted, because engineering works delay is forecast to continue. Due to cost to sales ratio increase, stemming from raw material price hike, earning ratio improvement is likely difficult, but is forecast to show gradual recovery trend. Firm’s working capital operation is not likely to be smooth, due to increase in accrued receivable from construction and decline of cash assets.
Description and history

Business Line
Engaged in the provision of construction and engineering services principally in South Korea
Subsidiary
CHEONAN RESORT PFV CO.,LTD.
Advisor
Woori Bank
IPO date
10/30/1978
US SIC Code
1522
Company Address
HANA PLAZA,1080-4, PUNGDEOKCHEON 2-DONG
SUJI-GU, YONGIN-SI, GYEONGGI-DO 448-509
City province or state postal code

Phone:
Fax: +82-31-420-9051
Country address: KOREA REPUBLIC OF
Website url: www.kdc.co.kr