#건설·인프라 Analysis Reports
23Dongyang (001520), an affiliate of Eugene Group operating four business divisions — ready-mixed concrete, construction, textiles, and plant — recorded revenue of KRW 271.5 billion, an operating loss of KRW 12.3 billion, and a net loss of KRW 9.7 billion in the cumulative H1 2026 semiannual report (filing No. 20260814003559). Between May and July 2026, a third-party allotment rights offering, retirement of treasury shares, and a 2:1 par-value consolidation (from KRW 500 to KRW 1,000) were carried out in sequence, restructuring the total shares outstanding; during this period the stake of the largest shareholder, Eugene Corporation, rose from 23.78% to 26.87% per the semiannual report (DART). As of the reference date 2026-08-18, the closing price was KRW 1,120, down -3.36% from the previous close of KRW 1,159, with trading volume of 127,708 shares (Toss Securities Open API).
Sambu Construction filed for court receivership (rehabilitation proceedings) on 2025-02-24 and received a commencement decision from the Seoul Bankruptcy Court on 2025-03-06. Following approval of the rehabilitation plan on 2026-06-26, the company sequentially implemented a 96.30% share consolidation (reverse split, 27:1), debt-to-equity conversion of rehabilitation claims, and a third-party allotment capital increase of KRW 33.0 billion. As a result, on 2026-07-14 the largest shareholder changed from Korea Asset Trust to Rebuild Sambu Holdings (84.24% stake) (compiled from Newsway, CBC News, and other media reports). Trading suspension continues due to delisting grounds arising from consecutive audit opinion disclaimers for fiscal years 2024 and 2025, and the improvement period granted by the Korea Exchange is set to expire on 2026-08-20 (as of the reference date 2026-08-18, the review outcome has not been announced). Consolidated net income for H1 2026 (cumulative) turned positive at KRW 174.4 billion, while operating loss continued at KRW 8.1 billion (DART semiannual report, receipt no. 20260814004299).
HC Bogwang Industry is an aggregate, ascon, and ready-mixed concrete producer based in the Daegu-Gyeongbuk region; its 2026-08-18 closing price was KRW 2,110 (+0.96% vs. the previous day, volume 37,073 shares). Per its FY2025 business report, consolidated revenue was KRW 38.49bn, down 39.7% from the prior year (KRW 63.88bn), with an operating loss of KRW 4.87bn and a net loss of KRW 2.49bn — the company's first loss since 2021 (filing no. 20260323001053). Its H1 2026 semi-annual report (filing no. 20260814001954) showed cumulative revenue of KRW 22.83bn, operating profit of KRW 0.87bn, and net profit of KRW 1.27bn, returning to profitability. The combined stake of the largest shareholder HC Homecenta and its affiliated-persons group was 68.66% as of 2025-12-08 (DART filing no. 20251208000103).
Yooshin Engineering Corporation, founded in 1966 and listed on the KOSDAQ market in 2002, is a comprehensive construction engineering firm providing feasibility studies, design, supervision, and construction management (CM) services for social overhead capital (SOC) sectors including roads, railways, airports, water resources, and urban planning. Following a board resolution on 2024-12-11, the company completed a small-scale merger with CE Tech Co., Ltd. on 2025-02-21, expanding into the EPC (engineering-procurement-construction) segment (filing no. 20241211000849). Per the FY2025 business report (separate financial statements), the company recorded revenue of KRW 385.5 billion, operating profit of KRW 9.24 billion, and net income of KRW 10.52 billion (filing no. 20260319001194), and per the 2026 semi-annual report (cumulative, separate financial statements), revenue of KRW 220.6 billion, operating profit of KRW 6.03 billion, and net income of KRW 5.49 billion (filing no. 20260814003347).
Egan Industry (008250) is a KOSPI-listed company that manufactures and sells wood-based building materials — plywood, veneer, laminate flooring, and ondol flooring — and holds overseas forest plantations in the Solomon Islands and Chile. Consolidated revenue for FY2025 was KRW 297.3bn (-9.07% YoY), with an operating loss of KRW 3.83bn (turned negative) and a net loss of KRW 14.18bn; for H1 2026 (cumulative), operating profit turned positive at KRW 2.56bn, but net income remained negative at -KRW 0.52bn. The 2026-08-18 closing price was KRW 2,535 (-1.74% vs. previous close), and the largest shareholder is the holding company Egan Holdings (35.24% stake, as of 2024-10-18 per DART's Report on Status of Large Shareholding).
Taeyoung Engineering & Construction is undergoing a workout (corporate restructuring) that began in December 2023, with the implementation agreement running through May 30, 2027. H1 2026 (consolidated) revenue was KRW 674.9 billion and operating profit was KRW 54.9 billion, up 21% year-on-year, while the H1 net loss narrowed to KRW 14.5 billion from a net loss of KRW 113.3 billion in the same period a year earlier (DART filing No. 20260814003287). The debt-to-equity ratio continued its improving trend, at 510.2% at end-June 2026 versus 720.2% at end-2024 and 542.0% at end-2025. The closing price on August 18, 2026 was KRW 1,615, down 1.28% from the previous day.
한일시멘트는 시멘트·레미탈·레미콘을 제조·판매하는 기업으로, 2026-08-18 종가는 14,860원(전일 대비 -1.59%, 거래량 186,360주)을 기록했다. 2025년 연결 매출액은 1조 4,239억원(전년비 -18.25%), 영업이익은 1,327억원(전년비 -51.1%)이었고, 2026년 반기(누적) 매출액은 6,640억원, 영업이익은 786억원으로 집계됐다. 2025년 11월 1일 합병기일로 한일현대시멘트를 흡수합병해 2025년 11월 21일 합병신주가 상장됐다.
LX하우시스는 2026년 2분기(연결) 매출 9,397억원(전년동기 대비 +14.7%), 영업이익 549억원(전년동기 대비 +329.0%), 당기순이익 471억원을 기록했다고 2026-07-30 공시했다. 상반기 누적으로는 매출 1조7,544억원(+9.6% YoY), 영업이익 1,008억원(+407.5% YoY)이며, 회사 측은 비용 절감과 미국법인 관세 환급 등 일회성 요인이 반영됐다고 설명했다. 2026-08-18 기준 종가는 33,400원으로 전일 대비 -2.77% 하락했고, 같은 기간 상위 지주사 LX홀딩스에서는 2026-08-10 공시된 구본준 회장의 장남 구형모 사장에 대한 지분 증여로 개인 기준 최대주주가 변경됐다.
Sampyo Cement closed at KRW 7,710 on 2026-08-18, down -7.55% (KRW -630) from the previous day, with trading volume of 505,310 shares. Per the 2025 annual business report, consolidated revenue was KRW 676.9bn (-14.4% YoY) and operating profit was KRW 76.6bn (-26.3%); per the 2026 semiannual report (cumulative), revenue was KRW 348.8bn and operating profit was KRW 21.7bn. On the same day, the KOSDAQ index fell -3.52%, and no company-specific disclosure explaining this decline was identified.
서희건설은 2026-08-18 종가 2,155원(전일 대비 +2.86%, 거래량 417,401주)을 기록했다. 2026 반기보고서(누적, 접수번호 20260814002224) 기준 매출액 3,922억원·영업이익 469억원·당기순이익 1,695억원을 공시했으며, 2025 사업보고서(접수번호 20260324000013) 기준 매출액은 전년 대비 25.3% 감소했다. 2026-04-30 한국거래소 기업심사위원회는 상장적격성 실질심사 결과 '상장유지'를 의결했고, 2026-05-04 약 9개월 만에 매매거래가 재개됐다.
HS Hwasung (formerly Hwasung Industrial Co., renamed in March 2024) is a Daegu-based general construction company that posted FY2025 consolidated revenue of KRW 659.48bn (+7.6% YoY), operating profit of KRW 43.25bn (+82.2%), and net income of KRW 30.91bn (+129.5%) (DART Annual Report, Receipt No. 20260319000781). However, cumulative H1 2026 (consolidated) results swung to a loss, with revenue of KRW 150.55bn (-43.7% YoY) and an operating loss of KRW 5.25bn (DART Semi-Annual Report, Receipt No. 20260814003892). Total shares outstanding are 10,150,000 (as of 2026-06-30), and the largest shareholder, Chairman Lee Jong-won, together with 24 related persons and 3 affiliated entities, holds a combined 41.93% (4,256,279 shares) (DART, as of 2026-06-30). Its Construction Capability Evaluation ranks 47th-48th nationwide, and No. 1 in Daegu Metropolitan City for 22 consecutive years (Ministry of Land, Infrastructure and Transport, as of 2026).
Under its FY2025 annual report, Sungshin Cement posted consolidated revenue of KRW 1.2163 trillion (+4.6% YoY) and operating profit of KRW 43.7 billion (DART, receipt no. 20260318001369). For H1 2026 (cumulative), the company recorded revenue of KRW 788.3 billion, operating profit of KRW 19.7 billion, and net income of KRW 13.5 billion (DART, receipt no. 20260814003208). As of 2026-02-23, Sungshin Cement and its special-relationship parties had secured an 86.74% combined stake in KC Industry, a KONEX-listed company (43.37% held solely by Sungshin Cement), expanding the value chain into the precast concrete (PC) business (Digital Today, 2026-02-23). Per a 2025-10-22 disclosure, Honorary Chairman Kim Young-jun gifted his 11.39% stake to his personal holding company ES Power without consideration, making ES Power the nominal largest shareholder with a 14.17% stake (Dealsite, 2025-11-03).
HC Homecenta (060560) is a holding company based in the Daegu/Gyeongbuk region engaged in RMC and asphalt concrete manufacturing, building materials wholesale and retail, petroleum wholesale, and apartment construction (TheBell, 2025-12-28). Consolidated revenue for FY2025 was KRW 298.8 billion, down 19.0% year-on-year, with an operating loss of KRW 18.51 billion and a net loss of KRW 23.84 billion — the company's first annual loss (FY2025 Business Report, DART filing no. 20260323001089). H1 2026 (cumulative) revenue was KRW 153.46 billion, with an operating loss of KRW 7.87 billion and a net loss of KRW 6.71 billion, continuing the loss streak (2026 Semiannual Report, DART filing no. 20260814002800). In March 2026, the board resolved a share consolidation raising par value from KRW 100 to KRW 500; shares outstanding after the consolidation total 25,388,001 (DART, filing no. 20260814002800, as of 2026-06-30).
벽산은 1971년 설립되어 코스피(유가증권시장)에 상장된 건축자재 기업으로, 단열재 중심의 건재부문과 도료부문(벽산페인트), 주방기기·환기부문(자회사 하츠, 지분 46.33%)을 영위한다. 2025 사업연도 연결 매출액은 6,106억원(전년대비 -5.04%), 영업이익 233억원(영업이익률 3.81%), 당기순이익 274억원을 기록했다. 2025년 5월 화스너 전문기업 영우화스너 지분 100%를 340억원에 취득했으며, 2026년 6월 말 기준 최대주주 벽산엘티씨엔터프라이즈 및 특수관계인 지분율은 28.91%다.
한신공영은 2026년 8월 14일 연결기준 2026년 상반기(누적) 매출액 5,113억원(전년동기대비 -15.4%), 영업이익 398억원(+16.6%), 당기순이익 312억원(전년동기 76억원 대비 약 4.1배)을 공시했다. 영업이익률은 7.79%로 전년동기 5.65% 대비 2.14%p 상승했으며, 회사는 자체사업 준공에 따른 분양수익 감소를 매출 감소 원인으로, 공사부문 수익 확대와 원가율 개선을 이익 증가 원인으로 설명했다. 같은 기간 창원 한신더휴 메가센텀(2,016세대, 2026-07-24 분양)과 의왕역 한신더휴(297가구, 2026-08-13 입주자모집공고) 등 신규 분양이 진행됐다. 한국기업평가는 2026년 6월 19일 무보증사채 신용등급 BBB를 유지하며 등급전망을 안정적에서 긍정적으로 상향했다.
HDC LABS closed at KRW 7,660 on 2026-08-18, down -1.79% from the previous close of KRW 7,800. Cumulative H1 2026 results were revenue of KRW 301.854 billion, operating profit of KRW 12.9 billion, and net income of KRW 13.7 billion (consolidated, DART receipt no. 20260814004044). Preliminary Q2 2026 results showed revenue down -9.2% year-on-year, while operating profit rose +58.8% and net income rose +65.1%. On 2026-08-07, at BUILD CON SUMMIT 2026, the company unveiled 'AI Building OS,' an AI-based autonomous smart building operation platform.
Comax's shares have been suspended from trading since an audit opinion disclaimer on 2024-03-21. On 2026-07-27, the Korea Exchange Corporate Examination Committee reviewed the company's listing eligibility and determined delisting, with the KOSDAQ Market Committee's final decision scheduled by 2026-08-25. In February 2026, Kyungdong Navien invested a total of KRW 32.0 billion to acquire an 80.77% stake and become the largest shareholder, and the CEO was also replaced by Kim Jong-wook; the wholly owned subsidiary Comax CS was absorbed and merged on 2026-07-01. Consolidated revenue in H1 2026 was KRW 37.969 billion, down 7.3% year-over-year, but the company posted operating profit of KRW 5.477 billion and net income of KRW 4.019 billion, turning profitable after five consecutive years of losses from 2021 to 2025.
KCC (002380) is a materials company operating in four business areas — paints, glass (via affiliate KCC Glass), silicones (Momentive), and building materials. Its closing price on August 18, 2026 was 447,000 KRW, down -3.35% from the previous trading day's (2026-08-14) close of 462,500 KRW. Q2 2026 consolidated revenue was 1.806 trillion KRW (+7.2% YoY), while operating profit declined to 128.9 billion KRW (-13.1%), and net income surged to 2.8392 trillion KRW (+217.8%), driven by expanded valuation gains on its Samsung C&T stake (17.01 million shares, 10.49% ownership). On April 22, 2026, the board of directors decided to retire 293,575 treasury shares (worth 162.9 billion KRW) through profit-based cancellation, and as of July 31, 2026, the National Pension Service's stake fell below 10% to 9.27%, prompting a change in its holding purpose from simple investment to general investment.
Kangdong C&L is a KOSDAQ-listed cement-and-leisure conglomerate that owns the 'Goryeo Cement' brand of Portland cement, based in Jangseong, Jeollanam-do. In July 2024 it entered the leisure business by acquiring Dianeos CC (golf course, resort, and water park) in Gyeongju, Gyeongsangbuk-do. Per the 2025 business report (standalone), revenue was KRW 71.8bn, operating profit KRW 7.4bn, and net income KRW 660mn, maintaining profitability from the prior year. However, in H1 2026 (cumulative), revenue was KRW 32.2bn with operating profit of KRW 1.7bn (in the black), yet net income turned negative again at -KRW 360mn. As of the reference date (2026-08-18), the closing price was KRW 1,240, down -1.74% from the prior trading day's close (KRW 1,262), on volume of 511,495 shares.
Kyungdong Navien reported consolidated Q2 2026 revenue of KRW 388.2bn (-1.0% YoY), operating profit of KRW 84.3bn (+64.6% YoY), and net income of KRW 68.46bn (+254.1% YoY) (disclosed 2026-08-11). Cumulative H1 2026 revenue reached KRW 813.52bn and operating profit KRW 148.07bn, approaching full-year 2025 operating profit (KRW 143.38bn), while cumulative H1 net income (KRW 126.46bn) already exceeded full-year 2025 net income (KRW 89.70bn) (semiannual report, receipt no. 20260814003740). The U.S. has imposed a 15% reciprocal tariff on Korean-made boilers and water heaters since August 2025, and Q2 2026 results reflected the effect of refunds on tariffs previously paid. The reference-date (2026-08-18) closing price was KRW 65,900, down -2.95% from the previous day.
Paseco is a KOSDAQ-listed company that manufactures seasonal appliances such as window air conditioners, as well as built-in and household appliances. On a non-consolidated basis, per its 2025 business report it recorded revenue of KRW 167.91bn and operating profit of KRW 3.30bn, turning profitable from the prior year's operating loss (KRW -16.81bn) (receipt no. 20260319000245). However, per its 2026 semiannual report (cumulative, receipt no. 20260813000881), it recorded revenue of KRW 74.80bn with an operating loss of KRW 1.01bn and a net loss of KRW 0.45bn, turning to a loss again, and its debt ratio surged from 29.42% at end-2025 to 61.41% in H1 2026. The largest shareholder, CEO Yoo Il-han, together with related persons (11 individuals/entities), held a combined stake of 71.08% (as of 2026-06-30), with no change in shareholding during H1 2026.
SK D&D has focused on real estate development and operations since transferring its renewable energy and ESS businesses to SK Eternix through a spin-off in March 2024. In Q1 2026 (consolidated basis, filing no. 20260514000745), revenue was KRW 70.3 billion, down 22.5% year-on-year, and the company swung to a loss with an operating loss of KRW 9.3 billion and a net loss of KRW 20.6 billion. In June 2026, Korea Ratings and Korea Investors Service downgraded the company's unsecured corporate bond rating from BBB to BBB-, citing the exclusion of potential group support following the change in the largest shareholder. On August 11-12, 2026, SK Discovery sold its entire 31.27% stake to Hahn & Company Development Holdings LLC, making Hahn & Company the sole largest shareholder (combined stake of 78.69%); during the same period, the company has been pursuing a rights offering of new shares for debt repayment purposes (approximately 240% of existing listed shares, expected proceeds of KRW 136.7 billion).
한국자산신탁은 2026-08-18 기준 종가 2,375원(전일 대비 -1.25%, 거래량 340,359주)을 기록했다. 2025 사업보고서 기준(연결) 매출액 2,042.88억원(전년 대비 -9.8%), 영업이익 342.27억원(-33.9%), 당기순이익 493.82억원(+32.0%)을 시현했으며, 2026 반기보고서(누적, 접수번호 20260814001649)에서는 매출액 1,475.93억원, 영업이익 418.01억원, 당기순이익 355.35억원을 기록했다. 2026-05-02 한국기업평가는 신탁계정대여금 회수 부진과 수익성 저하를 사유로 무보증사채 신용등급을 A(부정적)에서 A-(안정적)로 하향했다. 2026-03-29부로 대표이사가 김규철에서 신찬혁으로 교체됐다.