Jungheung Group
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Native name | 중흥그룹 |
|---|---|
| Private | |
| Industry | Construction, Real estate development, Mass media |
| Founded | 1983 |
| Founder | Jung Chang-sun |
| Headquarters | Gwangju, South Korea |
Key people | Jung Chang-sun (Chairman) Jung Won-ju (Vice Chairman) |
| Products | Residential buildings (Jungheung S-Class) Civil engineering |
| Website | www |
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][2]
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.[3]
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.[4]
- 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.[5]
The group is also active in corporate social responsibility through the Jungheung Scholarship Foundation, which provides support to students.[6]
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.
References
- ↑ "Jungheung signs deal to acquire controlling stake in Daewoo E&C". The Korea Herald. 2021-12-09.
- ↑ "Jungheung's Leap Daewoo E&C Acquisition Pushes Group into Top 20". Sisa Journal-e (in 한국어). 2022-04-27.
- ↑ "Jungheung Group's Growth History and Future Vision". Startup Today (in 한국어). 2024-01-15.
- ↑ "Jungheung Construction to acquire Herald Corp". Yonhap News Agency. 2019-05-15.
- ↑ "Jungheung Group Finalizes Daewoo E&C Acquisition". Modoo Search (in 한국어). 2022-02-28.
- ↑ "Jungheung Scholarship Foundation delivers 188 million won in scholarships". 1conomy News (in 한국어). 2025-12-29.
External links
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