1977-1959
Pyeonghwa Construction Company, the former name of Lotte E&C, was founded on February 4, 1952, right in the middle of the Korean War. The company contributed significantly to the nation’s postwar reconstruction effort by winning the project to build the government’s procurement office. During the hectic development era during the 1960s, we left important footprints by participating in historic projects such as major highways, giant public works projects, and POSCO plant construction.
- Feb. 28 Earns electric & telecom construction license
- Apr. 28 Acquires license to build houses
- Oct. 10 Secures overseas construction license (MOC No. 34)
- Nov. 15 First foray into overseas construction market (wins road construction project in Saudi Arabia)
- Nov. 15 Overseas construction business (wins a road construction project in Saudi Arabia)
- Apr. 28 Earns license to pave roads (MOC No. 19)
- 04.05 Licensed for public works and construction (Department of Construction, issue no. 13, 14)
- 05.28 Merged with Dae Young To Construction, lnc
- 02.02 Renamed the company as Pyoung Hwa Construction