What Ilsung Construction does

Ilsung Construction (일성건설) is a South Korean general construction contractor founded in 1978 in Namdong and headquartered since 2024 in Yongin, Gyeonggi-do, with a Seoul business office. Listed via IPO in 1989 with 13.5 billion KRW initial capital and subsequently increased to 27 billion KRW, the company operates across five core business segments: housing under the proprietary TRUEL brand, building construction, civil engineering and infrastructure, plant and environmental engineering, and overseas projects. Ilsung holds ISO 9001 (1995), ISO 14001 (1997), and ISO 45001 (2022) certifications from TUV, U.S. Army FED registration (2006), and specialized Korean construction licenses covering water quality and air quality environmental work, fire-fighting system installation, military supply, and overseas engineering. The company also holds four granted construction-method patents (non-regular facade unit modules, structural transporter, large-diameter pile guide casing, and air purifier with diffuser) and operates the proprietary I-BEST safety culture program.

Ilsung's customer base spans government and private sectors. Public-sector clients include Korea Land & Housing Corporation (LH), the Public Procurement Service (조달청), Korea Expressway Corporation, and various military agencies. Private-sector clients include a notable Samsung cluster — Samsung Electronics, Samsung Display, and Samsung Heavy Industries — along with Celltrion. Residential housing under the TRUEL brand is marketed to individual Korean homebuyers through a dedicated sales platform (truel.co.kr) and direct B2B channels, encompassing both public housing (공공분양) and private sales. Contracts are procured through competitive bidding for public work and direct negotiation for private clients, with project-by-project pricing based on scope and scale; pricing is not publicly disclosed.

Internationally, Ilsung has built a multi-region footprint over more than a decade. The company established a Mongolia subsidiary in 2010, a Paraguay branch in 2011 (as the first Korean construction company to enter the Paraguayan market), and a Southeast Asia regional headquarters in 2022 covering Vietnam, Laos, and Cambodia. Domestic contracting rank has steadily improved from #81 in 2008 to #56 in 2024. The company underwent a leadership transition in 2025 with the appointment of Baek Jong-tak as CEO and engaged Samil PricewaterhouseCoopers as external auditor for fiscal years 2026–2028, signaling a governance upgrade.

Name

Ilsung Construction

Legal name

Ilsung Construction Co., Ltd.

Website

https://ilsungconst.co.kr

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

General Construction Services

NAICS

Residential Building Construction (2361), Commercial and Institutional Building Construction (23622), Nonresidential Building Construction (2362)

SIC

General Bldg Contractors - Residential Bldgs (1520), General Bldg Contractors - Nonresidential Bldgs (1540), Operative Builders (1531)

akta.pro primary industry

Office & Corporate Building Construction (IMAFACAA)

Keywords

• General construction services
• Residential housing development
• Civil engineering infrastructure
• Plant construction services
• Overseas construction projects

Headquarters

HQ city

Namdong

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Housing Construction (TRUEL Brand): Revenue generated from residential housing development and construction under the TRUEL brand, including pre-sale (公共분양) and private (민간분양) apartment projects across Korea. Projects range from small-scale urban redevelopment to large-scale public housing complexes.
2. Building & Civil Engineering Construction: Revenue from building construction and civil engineering/infrastructure projects including roads, railways, bridges, stormwater facilities, industrial complexes, and public facilities for government and private clients.
3. Plant & Environmental Construction: Revenue from plant construction including water treatment, air quality, waste management, fire protection, and electrical/mechanical systems for industrial and public infrastructure.
4. Overseas Construction Projects: Revenue from international construction projects including housing, hospitals, roads, and bridges in Southeast Asia (Vietnam, Cambodia, Laos) and Mongolia.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Ilsung Construction is a general construction contractor that builds and delivers residential housing (under the proprietary TRUEL brand), commercial and institutional buildings, civil infrastructure (roads, expressways, railways, bridges, stormwater systems), and environmental plant facilities (water, air, waste, fire protection). The company also executes overseas construction projects across Southeast Asia and South America. Revenue is generated through project-based construction contracts secured via public bidding and direct enterprise negotiations.

Product overview

Ilsung Construction operates as a general construction company with five core business segments — Housing, Building, Civil Engineering/Infrastructure, Plant, and Overseas Projects — unified under the TRUEL residential brand. TRUEL is the company's flagship housing brand offering premium apartments and mixed-use developments. The company also maintains a B2B partner system and a dedicated sales platform (Truel.co.kr) for residential property sales. With over 45 years of history since founding in 1978, the company combines domestic expertise with international operations across Southeast Asia and South America.

Differentiator

Problem solved

Functional benefit

Brands

• TRUEL (트루엘): High-end residential housing brand of Ilsung Construction, known for apartment complexes and housing projects across South Korea and international markets including Mongolia.

Products and services

• TRUEL Residential Housing Brand Ilsung Construction's premium residential housing brand offering apartments, officetels, urban redevelopment projects, and mixed-use developments for individual Korean homebuyers. Operates a dedicated sales platform (truel.co.kr) for pre-sale (공공분양) and private (민간분양) unit sales across Korea.
• Housing Projects (주택사업) Residential housing construction services including apartment complexes, public housing developments, urban redevelopment, and small-scale reconstruction projects. Includes both public housing delivered via LH/조달청 and private developments across Korea.
• Building Projects (건축사업) Commercial and institutional building construction services including office buildings, educational facilities, military facilities, and industrial plants. Major clients include Samsung Electronics, Samsung Display, Samsung Heavy Industries, and government agencies.
• Civil Engineering / Infrastructure Projects (토목/SOC사업) Large-scale infrastructure construction services including highways, expressways, urban railways, bridges, dams, tunnels, water supply systems, stormwater facilities, and urban development projects for Korean government and public corporations.
• Plant Projects (플랜트사업) Environmental plant construction services covering water quality treatment, air quality management, waste management facilities, and fire protection systems. Includes design, construction, and test operation across water, air, and waste treatment sectors for industrial and municipal clients.
• Overseas Projects (해외사업) International construction operations across Southeast Asia (Vietnam, Cambodia, Laos, Philippines), Mongolia, and South America (Paraguay). Includes residential housing (TRUEL Mongolia), hospitals, roads, bridges, railways, and rural road infrastructure development.
• B2B Partner System (B2B 시스템) Business-to-business online system for partner companies, subcontractors, and contractors to manage orders, transactions, and project communications with Ilsung Construction.
• Truel.co.kr Sales Platform Dedicated residential sales website for TRUEL brand housing projects, providing property listings, sales information, and project details (분양중, 분양예정, 실적) for prospective buyers.

Quantifiable outcome

• Contracting rank improved from #81 (2008) to #56 (2024), demonstrating consistent growth in project scale and volume
• +2 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Samil PricewaterhouseCoopers (삼일회계법인)coreOthers · 2 December 2025Ilsung Construction appointed Samil PwC as its external auditor for fiscal years 2026–2028. The audit covers separate and consolidated financial statements, internal accounting management system reporting, quarterly/half-year reviews, year-end audit, and internal accounting control system evaluation. The engagement involves 7 personnel including the engagement partner with a total of 2,563 planned audit hours.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UClatp55irxVGeVPVqcmeimQ/featured
• Facebookfacebook.com/ilsungtruel

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ilsung Construction