Jungheung Group
Native name | 중흥그룹 |
|---|---|
| Private | |
| ISIN | 🆔 |
| Industry | Construction, Real estate development, Mass media |
| Founded 📆 | 1983 |
| Founder 👔 | Jung Chang-sun |
Area served 🗺️ | |
Key people | Jung Chang-sun (Chairman) Jung Won-ju (Vice Chairman) |
| Products 📟 | Residential buildings (Jungheung S-Class) Civil engineering |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Jungheung Group (Korean: 중흥그룹) is a large South Korean chaebol (conglomerate) focused on construction and real estate development. Headquartered in Gwangju, it is the parent company of Daewoo E&C, one of South Korea's top construction firms.
As of 2022, following the acquisition of Daewoo E&C, Jungheung Group ranked among the top 20 business groups in South Korea in terms of asset size.[1]
History
The group originated from Jungheung Construction, founded in 1983 by Chairman Jung Chang-sun. Initially a local builder in the Jeolla region, it grew rapidly by focusing on public housing projects and residential complexes in new cities like Sejong City.
The group gained significant media attention and business scale through major acquisitions: Herald Corporation: In 2019, Jungheung acquired a controlling stake in Herald Corp, which publishes The Korea Herald and Herald Business.[2] Daewoo E&C: In 2021, Jungheung was selected as the preferred bidder to acquire a controlling stake in Daewoo E&C, a major global contractor. The acquisition was finalized in 2022, propelling Jungheung into the top tier of South Korean conglomerates.
Brand
Jungheung S-Class: The group's primary apartment brand. It is well-known for its residential complexes in planned cities across South Korea.
Key Subsidiaries
Jungheung Construction: The original entity of the group. Daewoo E&C: Acquired in 2022, it is one of the "Big 5" construction companies in Korea. Herald Corporation: A media group owning The Korea Herald.
See also
References
- ↑ "Jungheung signs deal to acquire controlling stake in Daewoo E&C". The Korea Herald. 2021-12-09.
- ↑ "Jungheung Construction to acquire Herald Corp". Yonhap News Agency. 2019-05-15.
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