05/12/2025
05/12/2025
Daewoo E&C is expanding its business footprint in Vietnam from the northern region to the south while intensifying efforts in new urban development projects. This move is considered a strategic step to further penetrate Vietnam’s rapidly growing real estate market and strengthen the company’s presence in Southeast Asia, paving the way toward becoming a global construction conglomerate.
Over VND 1.516 Trillion Capital Increase for Its Vietnamese Subsidiary
On December 3, 2025, to prepare financial resources for an upcoming project acquisition, Daewoo E&C decided to inject approximately 139.2 billion won (equivalent to VND 1.516 trillion) into its Vietnamese subsidiary, De Heim Company Ltd.
The capital increase will be executed through a rights offering to existing shareholders; therefore, Daewoo E&C Vina — the group’s legal entity in Vietnam — will contribute capital in proportion to its current ownership.
A Daewoo E&C representative stated:
“This capital injection will empower De Heim Company to take a more proactive role in implementing new urban development projects while enabling adjustments to the ownership structure among the project’s investing entities.”
Expanding Corporate Structure in Vietnam
Daewoo E&C currently owns 100% or controlling shares in four subsidiaries and joint ventures in Vietnam:
Among these, De Heim Company (founded in 2023) and Thai Binh Central City Development (founded in 2025) are newly established entities.
THT Development and Daewoo E&C Vina are the key units leading the development of the Starlake Urban Area in Hanoi — one of the largest urban projects in northern Vietnam.
Accelerating the Southward Expansion Strategy
With the new investment, De Heim Company is expected to become the primary entity leading urban development projects in southern Vietnam, marking Daewoo E&C’s expansion beyond its traditional stronghold in the north.
Southern expansion has also been a central objective of Daewoo E&C Chairman Jeong Won-ju. In late 2024, he met with leaders from Binh Duong and Dong Nai provinces to discuss potential investment cooperation.
Targeting the Wider Southeast Asian Market
Vietnam is regarded as a growth hub within Southeast Asia’s capital market, serving as a foundation for Daewoo E&C to broaden its presence in neighboring countries.
Last month, Chairman Jeong also met with Thai Prime Minister Anutin Charnvirakul to discuss the potential introduction of the “K-City” model — an integrated urban concept incorporating Korean culture and K-pop — into Thailand. Prime Minister Anutin expressed openness to considering preferential policies and various forms of cooperation.
Vietnam’s Infrastructure Demand Surges
According to a strategy announced by the Korea Overseas Infrastructure & Urban Development Corporation (KIND), Vietnam’s Ministry of Planning & Investment estimates that the country will require over USD 200 billion in infrastructure investment between 2020 and 2030.
A report from KOTRA also indicates that Vietnam’s construction market is projected to grow from 33 trillion won (2023) to more than 101 trillion won by 2033 — a more than threefold increase.
This growth trajectory underscores why Daewoo E&C is intensifying reinvestment and expanding its operations in Vietnam.
Focusing on Urban and Infrastructure Projects
A Daewoo E&C representative noted:
“Building on our successful experience with the Starlake project in Hanoi, we are actively carrying out reinvestment initiatives in Vietnam. Beyond urban development, Daewoo E&C also has strong capabilities in infrastructure fields such as roads and railways, contributing to Vietnam’s economic growth.”
