Ssangyong E&C Gains Momentum with Strong Backing of Global Sae-A
SEOUL, South Korea, Feb. 9, 2026 /PRNewswire/ -- Since joining the Global Sae-A Group in December 2022, Ssangyong E&C has strengthened its financial stability and accelerated growth, supported by expanded overseas orders and improved performance.
The company opened the year with new overseas project wins, including the USD 250 million Avenue Park Towers development in Dubai, commissioned by UAE state-owned real estate developer WASL, and a construction project in Equatorial Guinea valued at USD 74 million.
Overseas orders increased more than eightfold, rising from USD 121 million in 2022 to USD 650 million in 2025, reinforcing its global competitiveness.
Following its integration into the group, Ssangyong E&C implemented an overseas expansion strategy focused on key regions. In addition to its core markets in Singapore, Dubai, and Equatorial Guinea, the company is pursuing new business opportunities in Central America.
Domestic operations have also shown improvement. Ssangyong E&C completed the ASML Hwaseong Campus in December, valued at USD 220 million. It also secured contracts for the 63 Square Exhibition Hall renovation in Yeouido and the Banyan Tree Hotel restoration project in Busan, and plans to deliver 6,000 apartment units in 2026. The company also secured two sections of the Southern Inland Railway earlier this year, a project with a value of USD 330 million, and established an Energy Business Team to expand into renewable energy projects.
Supported by domestic and overseas project wins, Ssangyong E&C's order backlog increased by nearly 50%, rising from USD 4.7 billion in 2022 to USD 6.7 billion in 2025.
Revenue is expected to increase from USD 1.17 billion in 2022 to around USD 1.3 billion in 2025. Operating profit returned to profitability in 2023 at USD 24 million, increased to USD 32 million in 2024, and is projected to reach approximately USD 44 million in 2025, marking three profitable years since joining the group.
These improvements were driven by capital reinforcement measures, including a USD 110 million capital injection in 2023 and the issuance of USD 37 million in hybrid capital securities in 2024. As a result, the company's debt ratio is expected to decline, from 753% at the end of 2022 to the mid-150% range.
Improved performance and financial stability have also led to stronger external evaluations, with Ssangyong E&C's construction capability ranking rising 10 places to 23rd overall.
*2025 financial figures are preliminary and subject to final audit.
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