South Korean construction company Shinyoung C&D has been selected as the top-ranked bidder for Kangwon Land's second casino floor development project, valued at approximately KRW74.1bn.
The selection followed a comprehensive bidding process conducted by South Korea's Public Procurement Service on behalf of casino operator Kangwon Land in October.
The project involves constructing a new casino building in Jeongseon County, Gangwon Province, comprising two basement levels and four above-ground floors.
The development will also include renovation work on tourist accommodation and entertainment facilities at the property, with construction expected to take approximately 23 months.
Shinyoung C&D will lead the project through a consortium in which it holds a 65% stake, alongside Seorim Construction with 20% and Daehwa Construction with 15%.
The contract represents another addition to the company's growing portfolio of specialized construction projects, particularly in the tourism and leisure sectors.
Beyond the casino development, Shinyoung C&D has also secured a KRW62bn contract to construct the Yongin Honorstone 2 memorial facility in Gyeonggi Province.
The 24-month project marks the company's first entry into funeral facility construction and includes an enshrinement hall and associated neighborhood facilities.
The company has also expanded its presence in commercial construction, securing office development contracts in Seoul's Seongsu-dong district, Pangyo Second Techno Valley and Gwacheon during August and September.
CEO Lee Seung-min said the company's expanding portfolio across specialized facilities, commercial developments and public infrastructure reflects growing recognition of its construction capabilities.
The Kangwon Land project adds to its order pipeline as the company continues expanding beyond traditional commercial and residential developments.
Kangwon Land reported a 3.8% decline in Q3 revenue to KRW369.45bn, alongside a net loss of KRW3.63bn
