▲ Hyundai E&C and China Construction Sixth Engineering Bureau (CCSEB) sign an MOU agreement for strategic partnership on the 7th

▲ Both will explore ways to jointly enter new third-country markets, including untapped Southeast Asia and Africa

▲ Hyundai E&C’s construction and technology competitiveness combined with CCSEB’s abundant capital and manpower are expected to create synergy

Hyundai E&C signed an MOU for strategic partnership with CSCEC Group, the world's largest construction player, laying the foundation for cooperation to expand entry into new markets.

On the 7th (local time), Hyundai E&C announced that it has signed an MOU for strategic partnership with China Construction Sixth Engineering Bureau (hereafter, CCSEB) at the Mandarin Oriental Hotel in Singapore.

The signing ceremony was held with key officials from both companies, including Hyundai E&C CEO Yoon Young-joon and CCSEB Chairman Wang Jin.

CCSEB is a leading construction player, operating in many areas of business, including architecture, social infrastructure construction and real estate investment and development, and is a major subsidiary of China State Construction Engineering Corporation (CSCEC) group, which is the world’s no. 1 construction group according to 2022 ENR Global (2021 revenue basis). Currently, CCSEB is actively running its businesses in the Philippines, Sri Lanka, and Brunei.

Through the MOU, Hyundai E&C and CCSEB plan to seek a wide range of cooperative measures such as: ▲ partnering in major infrastructure projects in Southeast Asia ▲ exploring opportunities to participate in Asian Infrastructure Investment Bank-funded projects ▲ increasing price competitiveness through mutual cooperation ▲ creating synergy in high-rise building and real estate investment projects, and identifying projects to become preferred bidders.

Built on its world-class technology and know-how in overseas construction projects, Hyundai E&C plans to capitalize on the global network of CCSEB to explore new untapped markets in Southeast Asia and Africa. CCSEB also plans to leverage its abundant capital and manpower to strategically partner with Hyundai E&C to actively enter global markets.Hyundai E&C CEO Yoon Young-joon said, “We plan to identify various projects and seek practical results through partnership with the world's largest construction group,” adding, “Such mutual cooperation is expected to further enhance competitiveness and maximize synergy in the global construction market.”CCSEB Chairman Wang Jin said, “We are pleased to become a strategic partner of Hyundai E&C, which is recognized for its advanced technology and construction capabilities in overseas construction markets," adding, "We hope that both companies will actively cooperate to produce tangible results in the global markets in the future.”