Jungheung Group
In 1983, Jungheung Housing was established and later the legal firms of Jungheung Construction and Jungheung Civil Engineering were established building the knowhow of construcion for nearly four decades.
The management philosophy of Jungheung, according to the public relations materials of the company, is based on creation, honesty, diligence, faithfulness, and technical innovation. The say: “Jungheung Construction walks on the correct path of a company with independent new technology, innovative quality management and stable internal management with solid financial structure and advances toward the highest class company of 21st century with the creative insight for the future.”
The company has taken an active role in the construction of Korea for over three decades. Based on the abundant experience and technological knowhow, Jungheung is opening the future of Korean construction business in parallel with global construction companies.
Jungheung has increased the insight to look at the land while they were in housing business. They also purchased the land site of good location even before the active housing site development by the government and led the distribution business successfully.
Jungheung Construction demonstrated its perception to purchase the apartment land sites through private contracts after judging the sufficient value on the business when giant construction companies paid the penalty of tens of billions won for the breach of contracts and gave up while judging its business as a low value during the first period of Happy City.
Since 2014 when the economy in real estate in Korea recovered, the popularity of Jungheung S-Class apartments continued nationwide. Continuing the complete sales of nationwide Jungheung S-Class apartments, especially the Jungheung S-Class was supplied to Happy Cities with 13,000 households until last year, which was the most supply of apartments as for a single brand. In 2018, currently we have been operating nationwide 41 apartment project sites and 13 civil engineering sites.
Jungheung Construction advanced to the capital area based on the success in Sejong City. The company purchased land sites for housing at Gwanggyo new city, Goyang Hyangdong and Jichook, Guro Hang-dong to start the distribution of apartments. Whenever they gained the profit, they procured the land sites through the way to invest on purchasing land sites for housing. For the diverse business opportunities, Jungheung has recorded the contract order of over 3 trillion won for the last three years since the beginning of urban maintenance business in 2015. Now Jungheung is emerging as a strong competitor in the urban maintenance business. This year, Jungheung has been in progress of the business with a goal of 1 trillion contract order. The company has also accelerated the development project of Pyeongtaek Brain City for which with 1.1 trillion won was invested.
The Jungheung Group was designated for a group of giant companies in 2015 for the first time. Currently, a total of 62 companies belong to the Jungheung Group with about 1,700 staff and employees (1,400 field workers). Major subsidiary companies include Jungheung Civil Engineering, Naju Tourism Development (Gold Lake Country Club, Jungheung Spa & Resort), and Namdo Ilbo.