[Sponsored Report] Building on 55 years of excellence worldwide
Best known for its apartment brand e-Comfort Land, Daelim was the first Korean company to bring foreign money into the country, transferring $45,000 into a deposit at the Bank of Korea in February 1966 for a U.S. Navy port construction project in Vietnam. In November 1973, it was the first local company to enter the Middle Eastern market, setting up a branch in Saudi Arabia to build petrochemical boilers for Aramco in Korea’s first plant export. In 1975, it became the first Korean builder in Kuwait and Iran. Later, it received orders from the U.A.E., China, India, Thailand and the Philippines to build plants, dams, roads, ports, public housing and more. In September 1975, Daelim entered the South African market.
In 2009 Daelim won a project to build a refinery in the Jubail Industrial Complex, and the Iran South Pars Gas refinery plant, worth 3.8 trillion won total. In 2010, it has 12 projects underway in Iran, Saudi Arabia, Kuwait and the Philippines and is currently processing five projects in Saudi Arabia worth $2.2 billion total. In July 2009, Daelim Industrial Co. signed a contract with Aramco to build a large oil refinery in Saudi Arabia.
Daelim exceeded 1 trillion won in orders for plants in 2006 and reached 4 trillion won in 2009. The plant building department plans to strengthen its order portfolio with business in Saudi Arabia, Kuwait and Iran while diversifying its markets. Daelim is especially focusing on overseas power plants as a new driving force.
Reinforcing strategic cooperation with other advanced companies, raising profits and dispersing risk are key factors in overseas success. Daelim is working to reach the highest level of technology and project and risk management ability.
By Lee Ji-hyun [firstname.lastname@example.org]
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