Source Business Korea- Michael Herh: Daewoo Engineering & Construction (Daewoo E&C) has sharpened its global competitiveness by building a drone-based space information system for jungles in Indonesia and the Philippines as well as construction sites for large industrial complexes.
Developed by Daewoo E&C, the DW-CDS drone control system is characterized by the ability to perform periodic and stable automatic drone flights through the central control system without drone experts at sites. Live drone images of a construction site are delivered to all construction workers in real time, increasing productivity in construction processes and safety management. Recently, the builder has been using the drone control system to not only send drone images to overseas sites, but also to respond to the COVID-19 era by remotely supporting drone-based measurements.
Daewoo E&C recently decided to invest in AstroX, a startup company that manufactures drones and develops drone software. It is also looking for opportunities to enter new business areas such as smart energy industries through investments in companies that specialize in manufacturing electric vehicle chargers and charging services for electric vehicles.
Daewoo E&C unveiled its vision of “Build Together” and four key strategies in 2018, marking its 45th anniversary. It has since made various attempts to secure new growth engines. In addition to securing technologies related to next-generation industries such as drones and electric vehicles, it is also in the process of finding new business models that combine construction and finance. In fact, Daewoo E&C has recently been pushing for a complex development project in Vietnam with a Korean financial institution. Star Lake City in Vietnam, which will be created by Daewoo E&C with a total development of US$388 million, is a project to build complex buildings including a hotel, a service residence building, offices, and retail facilities. The project is the first large real estate development project in Vietnam in which Korean financial institutions such as Korea Development Bank (KDB) and KB Securities make equity investment.Meanwhile, in the first half of 2020, Daewoo E&C attained half of its annual target despite the worst external environment ignited by the spread of the COVID-19 virus. It posted 6,401.9 billion won in order intake, 3,949 billion won in sales and 202.1 billion won in operating profit.
images and Quotes http://www.BusinessKorea.co.kr – Michael Herh