[Sponsored Report] Building on 55 years of excellence worldwide

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[Sponsored Report] Building on 55 years of excellence worldwide

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Above, part of the South Pars gas field development project in Iran, which Daelim was commissioned to build.

As the only builder in Korea to be listed as a top 100 company for 55 straight years, since 1955, Daelim Industrial Co., Ltd. has a history of excellence, borne out by its top 10 ranking for almost five decades since the introduction of the Construction Capability Evaluation system.

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.

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Currently, the Saudi Arabian market is the most competitive in the world, and Daelim is known as a partner Saudi Arabia relies on with its outstanding technology and management.

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 [concordia@joongang.co.kr]

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