Samsung C&T retains top spot in builder rankings
Samsung C&T, a construction affiliate of Samsung Group, has been named the top builder in South Korea for six straight years in terms of building capacity, data showed July 29.
The company took the top slot among the 61,559 local construction firms evaluated, according to the Ministry of Land, Infrastructure and Transport. Those evaluated account for about 89 percent of 68,781 construction firms here.
Samsung C&T‘s construction capacity was valued at 17.5 trillion won ($14.7 billion), easily surpassing runner-up Hyundai Engineering & Construction, with an estimated capacity of 11.73 trillion won, according to the ministry.
The building capacity of each firm is based on actual construction projects that each company secured over the past three years, along with an estimated value of their technologies and financial stability.
Daelim Industrial took third place in the 2019 builder rankings with capacity evaluated at 11 trillion won, followed by GS Engineering & Construction at 10.4 trillion won and Daewoo Engineering & Construction at 9 trillion won.
The outcome of the annual evaluation is designed to help those placing new construction orders decide which firm may be the best fit for their jobs.
The annual ranking is also used to determine which firms will be eligible for orders placed by state procurement offices, while top-ranked builders are also barred from bidding for government projects that are deemed too small for them.
By Ram Garikipati and newswires (email@example.com)