SM Group's Samwhan Corporation Wins 130.9 Billion Won Mihocheon Bridge Improvement Project (Jochiwon-Naepan Section)

Samwhan Corporation, a construction subsidiary under SM Group, has recently secured consecutive contracts for aging infrastructure improvement projects.

On the 28th, Samwhan Corporation announced that it has been selected as the winning bidder for the improvement project of the Mihocheon Bridge (originally completed in 1938, total length 440 meters) located in the Osong-eup area of Cheongju, Chungcheongbuk-do, in the Jochiwon~Naepan section of the Gyeongbu Line.

Mihocheon Bridge located between Jochiwon and Naepan on the Gyeongbu Line. SM Group

The recently awarded project involves demolishing the existing single-track Mihocheon Bridge and constructing a new double-track bridge in its place. The total project cost is 130.9 billion won, with Samwhan Corporation holding a 70% stake. With orders for the improvement of aging infrastructures such as the Mihocheon Bridge steadily increasing, Samwhan Corporation—which marks its 80th anniversary this year—is once again drawing attention for its expertise and technical capabilities in civil engineering.

Previously, Samwhan Corporation also demonstrated its strengths in bridge improvement works by successfully completing projects such as the Eon Overpass Bridge (25.4 billion won) and Noan Bridge (27.8 billion won).

Adding to projects like the Yongin-Seoul soundproof facilities (36.7 billion won), Namsa-Dongtan soundproof facilities (44.0 billion won), Nongso-Gangdong road construction (113.7 billion won), and Sinnye apartment complex (151.8 billion won), the Mihocheon Bridge project has brought Samwhan Corporation's public construction orders over the past two years to 504.9 billion won. The total order backlog also remains strong, exceeding 1 trillion won (1.143 trillion won).

A representative from Samwhan Corporation said, "In addition to civil engineering projects such as bridges and roads, we are also pursuing in-house construction businesses through housing sales, such as the Ulsan Bang-eo-dong Gyeongnam Honorsville and Suwon Seoho District, aiming for both profitability improvements and balanced growth. We will strive to respond proactively to the internal and external changes and risks surrounding the construction industry, and establish a solid management policy that emphasizes stable profits."

This content was produced with the assistance of AI translation services.