DL E&C (375500) is launching "The Rich Finance," a dedicated premium financial service for members of the Apgujeong District 5 redevelopment association.
The construction company announced on the 11th that it signed a "high-end financial service agreement for Apgujeong District 5" with 10 financial institutions on the 10th. The partners include five major commercial banks—KB Kookmin, Shinhan, Hana, Woori, and NH NongHyup—and five securities firms: KB Securities, NH Investment & Securities, Samsung Securities (016360), Korea Investment & Securities, and Kiwoom Securities (039490).
The Rich Finance is a comprehensive financial package that goes beyond simple loan support. The service connects with private banking services from Korea's top financial institutions, covering asset management, tax consulting, and inheritance and gift planning. It was designed to meet the needs of VVIP association members with assets valued at 10 billion won ($7.2 million) or more.
DL E&C plans to apply high-end residential expertise accumulated through "Acro Seoul Forest" to Apgujeong District 5, moving beyond conventional redevelopment financing methods.
The 10 financial institutions cited DL E&C's AA- credit rating and industry-low debt ratio of 84% as key factors in joining the agreement. The partnership secures stable funding channels for Apgujeong District 5 amid external risks including interest rate volatility.
"We will deliver high-end financial solutions to association members by combining our industry-leading financial stability with the capital strength of top-tier financial institutions," a DL E&C official said.
