Ilsung Construction : Conclusion of Single SalesContract or Supply Contract
March 03, 2022 at 06:30 am IST
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Conclusion of Single Sales Contract or Supply Contract
1. Type of sales or supply contract
Receipt of construction order
- Name of contract concluded
New multi-purpose property construction project in Munhwa-dong, Cheonan-si
2. Details of contract
Contract amount (KRW)
73,108,600,000
Sales of the latest fiscal year (KRW)
340,961,877,712
Ratio to sales (%)
21.44
Classified as a large-sized corporation?
No
3. Counterparty to contract
Doowon Partners Co., Ltd.
- Relationship to company
-
4. Regions of sales or supply (markets served)
Cheonan, Chungcheongnam-do
5. Contract period
Start date
2022-02-25
End date
-
6. Terms and conditions of contract
[Termination of contract, etc.]
1. In accordance with Articles 20 and 21 of the General Conditions of the Construction Contracting Agreement, the company and the contracting party have adequately and mutually consulted and made significant efforts concerning project financing with a financial institution in connection with the project.
2. If the counterparty to transaction fails to secure the necessary licensing and authorization (evacuation, etc.) for the implementation of the "main project," or if the acquired licensing and authorization (evacuation, etc.) become invalid or revoked, etc.
7. Effective date of contract (receipt of orders)
2022-02-25
8. Withholding of disclosure
Reasons for withholding disclosure
-
Withholding period
-
9. Other matters to be factored into investment decisions
1. "2. Contract amount" is VAT-exclusive.
2. The end date of "5. Contract period" is 43 months from the commencement of
construction.
3. Construction details : 6 basement floors and 43 above ground floors of apartments
(236 households) and officetels (30 units); neighborhood facilities, etc.
4. The construction period, contract amount, etc. are subject to change depending
on the progress of the construction.
※ Related disclosure
-
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Disclaimer
ILSUNG Construction Co. Ltd. published this content on 03 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 March 2022 00:59:04 UTC.
ILSUNG Construction Co Ltd is a Korea-based company engaged in the construction business. The Company operates its business through four divisions: architecture division, which constructs residential buildings, education facilities, public buildings and other commercial buildings; civil engineering division, which constructs roads, railways, subways, industry complexes and others; landscaping division, which involves in the construction of green belts, and sales business division, which involves in the sales of apartment buildings. It also engages in the construction of water and sewage treatment plants, energy plants and others, and operation of social overhead capital (SOC) construction business,