Scenes from Daelim Industrial’s overseas worksites where its employees hustle to complete the various construction projects including hotels, residential houses and plants.(Photos: Daelim Industrial)

Daelim Industrial Corp., a major Korean builder, said recently that its net income rose 51.3 percent in the third quarter from a year earlier, thanks largely to brisk performances in its overseas business.

Net profit came to 71.7 billion won ($63.6 million) in the July-September period, compared with 47.4 billion won a year ago, Daelim Industrial said in a regulatory filing.

Sales fell 3.7 percent on-year to 1.43 trillion won in the period, but operating profit jumped 24.5 percent to 70.66 billion won.

Shares of Daelim Industrial finished at 90,900 won, down 2.47 percent from Oct.17's session on the Seoul bourse.

Daelim Industrial said increased overseas orders sent its third-quarter earnings higher. In the first nine months, Daelim Industrial recorded 5.67 trillion won in new orders, up 33.9 percent from a year ago.

Daelim Industrial Co Ltd. expects revenue of 10,700 bln won for 2016.

Six major South Korean construction firms are likely to see their earnings improve in the second quarter of 2016 from a year ago amid a housing boom, a report said on June 23.

The builders are expected to post 675.6 billion won ($587 million) in combined operating profits for the second quarter, up 16.5 percent from a year ago, according to the report by online financial information provider Fn Guide.

The six builders are Samsung Engineering Co., the plant engineering unit of South Korea's top conglomerate Samsung Group; Daelim Industrial Corp.; GS Engineering & Construction Corp.; Hyundai Development Company; Hyundai Engineering & Construction, the construction arm of Hyundai Motor Group; and Daewoo Engineering & Construction.

Among the six builders, Samsung Engineering appears likely to see its operating profit increase by 120.9 percent to 42.8 billion won in the second quarter.

Samsung Engineering shifted to an operating profit in the fourth quarter of 2015 after suffering an operating loss of more than 1.5 trillion won a quarter earlier. The engineering firm has posted operating profits since the October-December quarter.

Meanwhile, Daelim Industrial is expected to post 102.8 billion won in operating profit for the second quarter, up 63 percent from a year ago. 

Fn Guide said it estimated that the operating profit of GS Engineering & Construction is likely to come to 47 billion won, up 23.2 percent from a year ago.

"The earnings of the construction firms appear likely to improve for the time being as low interest rates fueled the housing boom," an industry official said.

Earlier this month, the Bank of Korea slashed the key rate to a new record low of 1.25 percent for June to bolster growth in Asia's fourth-largest economy. It marked the first rate cut in 12 months. 

Established in April 2010, Daelim is mainly engaged in the import and export of electric products and equipment and the company is presently expanding the scope of business and building solid partnerships in the power industry.

The company persists in establishing a vigorous and harmonious enterprise, constantly optimizes and promotes enterprise culture, and regards enterprise spirit and scientific development conception as the soul of the team.

Over the past five years, Daelim has become a leader in China's online electric equipment industry, and by virtue of its vast popularity, professional and fast product updates and mature marketing channels, it continues to attract new customers, and won an award as one of China's most “high potential” enterprises.