삼성물산 건설부문 일일 리스크 모니터링 — 2026-10-27

Samsung C&T Engineering & Construction Group surpassed 10 trillion won in urban renewal orders for the year by securing the Banpo Prugio remodeling and Changwon Yongho District 1 reconstruction projects. While PF contingent liability risks remain limited, closer attention is required for subcontract management due to stricter regulations on subcontractor payments.

<!-- /headline -->삼성물산, 도시정비 수주 '10조 클럽' 돌파…하도급 리스크는 제한적<!-- /headline -->

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1. 주요 사업 변화 및 리스크 신호

Here are the key changes and guarantee risk items regarding new orders, construction sites, and contracts for Samsung C&T's construction division.

• Orders/Contracts/Construction Schedule: Selected as the contractor for the Banpo Prugio Apartment remodeling project, securing a project worth 150 billion won. Additionally, was selected as the contractor for the Changwon Yongho District 1 reconstruction project in Gyeongsangnam-do through a general meeting on October 25, taking charge of construction worth 738.1 billion won and 1,315 households.
• Overseas/Plant/Data Center Business Opportunities: Analysis indicates that earnings growth is expected due to the expansion of semiconductor and plant businesses.
• Risk Signals (PF/Financial/Legal Disputes): Considering the pre-sale rates and progress of major projects as of the end of 2025, PF contingent liability risks are judged to be at a limited level.

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2. 보증 및 하도급 관리 이슈

These are the site- and partner-related risks that require monitoring at the mutual-aid association's operational level.

• Subcontract Price and Cost Issues: The exemption from the obligation to guarantee subcontract payments—previously granted upon using the subcontract price payment management system (subcontractwin-win settlement)—was removed on August 11, 2026.
• Guarantee Insurance Risks: Following the revised regulations, the obligation to guarantee payments applies to all construction subcontracting transactions, excluding small-scale construction (10 million won or less).
• Items Requiring Verification: It is necessary to check whether statutory guarantee amounts are deficient when signing contracts with subcontracting partners for newly secured sites such as the Banpo Prugio remodeling and Changwon Yongho District 1 reconstruction.

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3. 전략 분석 및 협력 기회

These are the order opportunities and competitor trends that member companies should pay attention to.

• Collaborative Business Opportunities: Samsung C&T is exploring technological cooperation opportunities by hosting the '2026 Future Scape Demo Day' on October 27, where it discovers startups and shares achievements in AI-based residential and logistics technologies.
• Portfolio Changes Compared to Competitors: Hyundai E&C and Samsung C&T are both able to achieve the '10 Trillion Club' in urban renewal projects for the first time ever this year, with Samsung C&T's cumulative order amount tallied at 10.4686 trillion won.
• Key Changes from the Previous Day: Samsung C&T's construction division has finalized its entry into the urban renewal 10 Trillion Club, recording an order performance of 10.4686 trillion won.