Financial risks weigh on Lotte E&C's bids for construction projects
Concerns over Lotte E&C's financial soundness are widely being seen as the main reason the builder lost to Daewoo E&C in a bid to win a 790-billion-won ($563 million) order to redevelop a 115,000-square-meter site in Yongsan District in central Seoul, according to industry officials, Sunday. During last Saturday's vote to select the company to take charge of the largest redevelopment project for the second half of this year, Daewoo E&C won 410 votes, while Lotte E&C got 342 votes. As a result, the former will be able to build its Hannam Summit apartment complex in Area 2 of the Hannam Redevelo...
Source: koreatimes.co.kr