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Korean general contractor building apartments, infrastructure and overseas plants.
Korean general contractor building apartments, infrastructure and overseas plants.
Apartment building under its Prugio brand carries most of the work, paid through sales to homebuyers and contracts with developers, so results follow Korean housing launches. Overseas plant and infrastructure projects, notably in Africa and the Middle East, are won one at a time and bring larger swings. Jungheung Group, a Korean construction group, took control from owners led by the state-run Korea Development Bank.
In one line: A mid-tier Turner Construction.
Moat: none (scale). Competes in a crowded, cyclical Korean construction market with little differentiation.
Headquarters: Seoul, South Korea · Founded: 1973 · Employees: 5,146
Size DWEC (047040.KS) is a South Korea Industrials company (Homebuilding) with a market value of $3.11B, the 98th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩10,400 on 6 Nov 2026.
Performance Over six months the shares fell 70.3%, against -46.2% for the median peer and -24.5% for the South Korea market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 16.0% over the last twelve months (peer median +25.0%); the operating margin is -6.5% (peer median 7.3%).
Valuation It trades at 7.7× forward earnings against a peer median of 15.9× (5th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.1 points below its cost of capital (7.7% WACC).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩7.55T | ₩8.05T | ₩10.5T | ₩11.6T | ₩10.4T |
| Revenue growth | — | -23% | -10% | +12% | — |
| Gross profit | n/a | ₩199B | ₩888B | ₩1.23T | ₩1.21T |
| EBITDA | n/a | -₩844B | ₩292B | ₩778B | ₩830B |
| Net income | -₩428B | -₩912B | ₩234B | ₩512B | ₩504B |
| Free cash flow | n/a | ₩427B | -₩1.52T | -₩930B | -₩516B |
| Capital expenditure | n/a | ₩112B | ₩43.4B | ₩74.6B | ₩80.2B |
| Total debt | n/a | ₩4.08T | ₩3.99T | ₩2.70T | ₩2.51T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| DWEC 047040.KS | $3.11B | -70% | -16% | -7% | 7.7× | -4.9% |
| HyundaiEng&Const 000720.KS | $6.43B | -52% | -9% | 3% | 18.3× | n/a |
| GS Engineering & Construction 006360.KS | $1.86B | -22% | -15% | 3% | 16.8× | -9.8% |
| Dl E&c 375500.KS | $1.53B | -48% | -17% | 4% | 5.2× | -8.3% |
| Samsung C&t 028260.KS | $31.3B | -8% | +14% | 8% | 15.0× | 5.9% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 047040.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -40.0% | -30.8% | 8th lowest of 21 |
| 6-month return | -70.3% | -46.2% | lowest of 21 |
| Distance from 52-week high | -74.2% | -58.0% | 2nd lowest of 21 |
| Revenue growth (TTM) | -16.0% | +25.0% | 2nd lowest of 21 |
| Operating margin | -6.5% | 7.3% | 4th lowest of 21 |
| Forward P/E | 7.7× | 15.9× | 5th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -4.9% | -1.5% | 4th least demanding of 9 |
| Growth delivered (Del g) | -0.2% | +10.0% | 2nd lowest of 9 |
| Hurdle (Req g minus delivered) | -4.7 pp | -15.3 pp | 2nd most demanding of 9 |
| ROIC minus cost of capital | -18.1 pp | -0.4 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| DWEC 047040.KS | South Korea | $3.11B | -70% | -16% | -7% | 7.7× | -4.9% | -0.2% |
| Hanwha 000880.KS | South Korea | $2.86B | -30% | +35% | 6% | 4.5× | n/a | n/a |
| Hd Ce 267270.KS | South Korea | $2.80B | -56% | +115% | 8% | 8.6× | -9.6% | +9.6% |
| LS 006260.KS | South Korea | $3.51B | -62% | +30% | 4% | 8.0× | n/a | n/a |
| CJ 001040.KS | South Korea | $2.71B | -49% | +5% | 5% | 7.3× | -1.8% | +7.1% |
| Doosan Bobcat 241560.KS | South Korea | $3.64B | -28% | +11% | 9% | 9.0× | -13.3% | +15.5% |
| Sanil Electric 062040.KS | South Korea | $2.62B | -56% | +29% | 36% | 17.1× | 15.1% | +50.8% |
| S-1 012750.KS | South Korea | $2.45B | +14% | +1% | 7% | 21.8× | -1.2% | +5.4% |
| Gaon Cable 000500.KS | South Korea | $3.97B | +50% | +32% | 3% | n/a | n/a | n/a |
| Doosan Robotics 454910.KS | South Korea | $2.41B | -54% | +97% | -91% | n/a | n/a | n/a |
| Wonik IPS 240810.KS | South Korea | $2.39B | -43% | +9% | 8% | 14.7× | 29.4% | -3.6% |
| ROBOTIS 108490.KS | South Korea | $2.37B | -30% | +52% | -16% | n/a | n/a | n/a |
| Taihan Cable & Solution 001440.KS | South Korea | $2.31B | -70% | +22% | 5% | 99.2× | n/a | n/a |
| Jusung Engineering 036930.KS | South Korea | $4.39B | +5% | -33% | 0% | 145.3× | n/a | n/a |
| L&F 066970.KS | South Korea | $2.15B | -62% | +81% | 8% | n/a | n/a | n/a |
| Rainbow Robotics 277810.KS | South Korea | $4.59B | -52% | +92% | -16% | 653.8× | n/a | n/a |
| Kepco E&c 052690.KS | South Korea | $2.07B | -61% | +8% | 10% | 45.6× | n/a | n/a |
| PanOcean 028670.KS | South Korea | $1.91B | -12% | +24% | 9% | 5.0× | n/a | n/a |
| LIG Defense&Aerospace 079550.KS | South Korea | $5.24B | -65% | +26% | 8% | 20.0× | n/a | n/a |
| Hdhms 443060.KS | South Korea | $5.28B | -39% | +20% | 16% | 23.0× | 3.0% | +14.5% |
| GS 078930.KS | South Korea | $5.32B | -6% | +9% | 17% | 3.1× | -20.0% | +10.5% |