Daewoo & Dongah Construction Jointly Receive Order from Japan

Daewoo and Dongah Construction announced on November 19 that they jointly received a 15 million dollar construction order from the Japanese Postage Ministry in cooperation with the Japanese Saimon company. This is the first time that a Korean construction company received a contract from Japan.
Three companies formed a consortium to receive the bid to build a postage distribution center. The percentage of ownership in the consortium is 45:35:20 (Daewoo: Dongah: Saimon). They plan to begin construction at the end of November and finish the project by April, 2000. The center will be 4,369 pyong (1 pyong = 35.6 feet) wide. Daewoo and Dongah will participate together in other biddings, as they expect the Japanese public sector construction market will open even wider.