[SPONSORED REPORTS] Hanwha E&C signs tripartite memorandum
![Hanwha Engineering & Construction signs a tripartite memorandum with Hansung PC Construction and ESEN Design & Tech on Oct. 8. [Hanwha E&C]](https://koreajoongangdaily.joins.com/data/photo/2021/01/25/50e093b7-140a-42f9-b1c5-9c9b6d37d582.jpg)
Hanwha Engineering & Construction signs a tripartite memorandum with Hansung PC Construction and ESEN Design & Tech on Oct. 8. [Hanwha E&C]
Hansung PC Construction is Korea’s biggest precast concrete maker, capable of manufacturing 450,000 cubic meters (15.9 million cubic feet) of precast concrete per year. ESEN Design & Tech, specializes in precast concrete design and engineering previously worked with Hanwha in Iraq.
Considering the size of the three involved companies, this memorandum might strike as an odd combination. However, to understand this tripartite memorandum, understanding the current address of the precast concrete market is a must. Since the precast concrete method proliferated in the domestic market, after being applied on various construction sites from parking lots to semi-conductor factories, major construction firms are focusing on developing new ways to utilize the method. Considering the fast-changing environment of the construction industry, signified by the new trend of “off-site construction,” Hanwha E&C decided to collaborate with the largest precast concrete manufacturer in hopes of enlarging precast concrete’s application at on-site construction for future projects.
Despite this recent collaboration, considering Hanwha as a stranger on precast concrete construction would be a mistake. In Bismayah New City, Iraq, Hanwha already successfully utilized the precast concrete method to construct 100,000 households and buildings related to social infrastructure. With its factory in Iraq, one of the biggest precast concrete manufacturing facilities in the world, Hanwha also has the capability to build the necessary materials for precast construction buildings.
“We are aware of the fact that the domestic precast concrete market is growing at a momentous pace. We believe that this memorandum can result in favorable outcomes such as increased competitiveness and construction efficiency of our work,” said an official from Hanwha E&C.
By Ahn Tae-lahm [ahn.taelahm@joongang.co.kr]
with the Korea JoongAng Daily
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