Who are Samsung E&A's customers? Who does Samsung E&A earn revenue from?

Revenue comes from counterparties including TA'ZIZ (ADNOC·ADQ 합작, UAE), Ras Laffan Petrochemicals (카타르), Saudi Aramco. Full sourced list: valuechain.wiki/samsung-e-a/customers.md

Who does Samsung E&A pay? Who are its key suppliers?

Costs flow to 에코프로에이치엔, 플랜트 기자재·외주 시공 협력사 among others. Full sourced list: valuechain.wiki/samsung-e-a/suppliers.md

plant EPC · Middle East + Samsung group work

Samsung E&A

An engineering firm that handles plant design, procurement and construction (EPC). About 57% of revenue comes from the chemical segment, driven by Middle East refining and petrochemical clients such as Saudi Aramco and ADNOC. Another 28% is the advanced-industry segment, made up of group affiliate work including Samsung Electronics chip fabs and the Samsung Biologics Songdo plant. In 2025 it won large orders such as the 1.7 billion dollar TA'ZIZ methanol plant in the UAE and a Malaysian SAF project, growing its New Energy segment. Consolidated 2025 revenue was 9.03 trillion won, with Aramco and Samsung Electronics together making up 53% of sales.

Business categories Construction & Plant EPC · Industrial Infrastructure & Heavy Industry · primary

028050.KS Updated Oct 9, 2026 5 AI consumers· 4 recurring

Per the valuechain.wiki graph, Samsung E&A is directly linked to 3 companies (1 supply, 3 revenue relationships) and reaches 13 companies within two hops; the links are backed by 14 dated sources, 4 of them primary filings (as of 2026-10-09).

Annual return · 2026-10-08'21+74.5%'22+20%'23-13.7%'24-15.9%'25+76.7%YTD+56.7%

Money in ▸TA'ZIZ (ADNOC·ADQ 합작, UAE)●contract $1.7BRas Laffan Petrochemicals (카타르)●contract $215MSaudi Aramco●Market share 31.43%Samsung Electronics●Market share 22.04%Samsung Biologics●Market share 11.7%삼성바이오로직스 (송도 플랜트 EPC)◐

Samsung E&AKRW 9.03tn

▸ Money outEcopro HN●contract 32,956,695,000원플랜트 기자재·외주 시공 협력사●expense 6,064,650백만원

Financials & Segments

Total revenue · KRW 9.03tn (FY2025 consolidated)
Customer concentration · Aramco 31.4% plus Samsung Electronics 22.0% = 53.5% of FY2025 revenue; KRW 15.9tn backlog; record KRW 14.4tn 2024 orders.
Segments · Hydrocarbon (57.1%) · Advanced industries - group fabs, bio (28.0%) · New Energy (14.9%)

Revenue from

TA'ZIZ (ADNOC·ADQ 합작, UAE) High confidence· contract $1.7B · EPC 44개월 · HQ portion, single supply contract
EPC for the TA'ZIZ methanol plant in Al Ruwais, Abu Dhabi. HQ portion USD 1.706B (1.8 Mtpa, UAE's first methanol plant, 44 months). A flagship petrochemical order.
Confirms KO FSS DART Published Jun 4, 2026: Samsung E&A single supply contract (UAE TA'ZIZ methanol)
Mentions KO Kiwoom Securities Published Apr 24, 2026: Samsung E&A 1Q26 Review: rich near-term momentum
Confirms EN ADNOC / TA'ZIZ Published Feb 3, 2025: TA'ZIZ Announces $1.7 Billion Award to Build First Methanol Plant in the UAE
Ras Laffan Petrochemicals (카타르) High confidence· contract $215M · EPC
Ethylene storage plant EPC for the QatarEnergy-Chevron Phillips JV; Samsung E&A's share ~$215M (30kt tank, CTCI JV, 34 months).
Confirms KO Samsung E&A Published Nov 14, 2024: Qatar RLP ethylene storage EPC contract
Saudi Aramco High confidence· Market share 31.43% · FY2025 · annual report major customers
Largest customer at 31.4% of FY2025 revenue (KRW 2.84tn). ~$6B Fadhili Gas Increment packages 1 and 4 EPC, the largest single award in company history (completion 2027; throughput 2.5 to 3.8 bscfd).
Confirms KO FSS DART Published Mar 11, 2026: Samsung E&A Annual Report (FY2025)
Confirms EN Samsung E&A Published Apr 3, 2024: Samsung E&A wins $6B Fadhili Gas Increment Program from Aramco
Confirms KO Korea Economic Daily Published Apr 3, 2024: Samsung E&A wins KRW 8tn Saudi gas plant order
Confirms EN Saudi Aramco Published Apr 1, 2024: Aramco awards $7.7B contracts for Fadhili expansion
Samsung Electronics High confidence· Market share 22.04% · FY2025 · annual report major customers
Group semiconductor fab construction: 22.0% of FY2025 revenue (KRW 1.99tn; 27.7% in FY2024). ~KRW 1.3tn P4 finishing-work increase (2025); Taylor fab participation.
Confirms KO FSS DART Published Mar 11, 2026: Samsung E&A Annual Report (FY2025)
Confirms KO SME Daily Published Aug 1, 2025: Samsung E&A eyes P4 and Samsung Biologics plant-6 orders
Samsung Biologics High confidence· Market share 11.7% · FY2024 · annual report
Built all of Songdo bio plants 1-5; 11.7% of FY2024 revenue (KRW 1.17tn). Plant 6 (~KRW 2tn) not yet awarded.
Confirms KO FSS DART Published Mar 11, 2026: Samsung E&A Annual Report (FY2025)
Mentions KO SME Daily Published Aug 1, 2025: Samsung E&A eyes P4 and Samsung Biologics plant-6 orders
삼성바이오로직스 (송도 플랜트 EPC) Medium confidence
EPC for Songdo bio plants.
Mentions KO FSS DART Published May 15, 2026: Samsung Biologics annual report (FY2025)

Pays to

Ecopro HN High confidence· contract 32,956,695,000원 · 2026.7 계약(~2027.12) · Domestic RCS
Repeat orders of RCS GHG abatement systems for chip fabs from Ecopro HN: KRW 33.0bn domestic RCS (Jul 2026, to Dec 2027), KRW 22.6bn Taylor fab (2024), KRW 31.9bn PFCs (2022).
Confirms EN Digital Today Published Sep 14, 2026: Ecopro HN wins more environmental solution orders in US and Taiwan
Confirms KO FSS DART Published Jul 27, 2026: Ecopro HN single sales/supply contract (Samsung E&A, RCS KRW 33.0bn)
Confirms KO E2 News Published Jun 1, 2024: Ecopro HN signs KRW 22.6bn GHG-abatement deal with Samsung E&A
Confirms KO Seoul Economic TV Published Nov 7, 2022: Ecopro HN: KRW 31.9bn PFCs treatment deal with Samsung E&A
플랜트 기자재·외주 시공 협력사 High confidence· expense 6,064,650백만원 · FY2025 · materials and subcontracting expense
Most turnkey EPC cost is equipment procurement (compressors, heat exchangers, valves) and local subcontracting. FY2025 materials and subcontracting cost was KRW 6.06tn, 74% of the KRW 8.24tn total expenses. Individual suppliers are not disclosed.
Confirms KO FSS DART Published Mar 11, 2026: Samsung E&A Annual Report (FY2025)

Value-chain ripple (2 tiers)

Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.

Company	Chain	'21	'22	'23	'24	'25	YTD
AMD	lead2	+56.9	-55	+127.6	-18.1	+77.3	+183.9
Marvell	lead2	+84.6	-57.5	+63.7	+83.8	-22.8	+163.4
Gilead Sciences, Inc.	lead2	+30	+23.6	-2	+18.7	+36.6	+25.4
NVIDIA	lead2	+125.5	-50.3	+239	+171.2	+38.9	+23.2
Pfizer Inc.	lead2	+66.7	-10.4	-41.3	-2.2	+0.6	+20.2
Bristol-Myers Squibb Company	lead2	+2.9	+19	-26.1	+15.8	+0.1	+14.5
Broadcom	lead2	+56.5	-13.3	+104.2	+110.5	+50.6	+5
Qualcomm	lead2	+22.3	-38.6	+35.1	+8.3	+13.8	+0.2
LigaChem Biosciences	lead2	-26.2	-18.1	+37.1	+151	+60.5	-63.9
Samsung Electronics	lead1	-9	-14.2	+20.9	-26.4	+212.9	+63.8
Samsung Biologics	lead1	-6.8	+8.6	+5.8	+28.7	+5	-30.1
Samsung E&A	node	+74.5	+20	-13.7	-15.9	+76.7	+56.7
Ecopro HN	benef1	·	+4.6	+17	-47.7	+38	-38.7
Ecopro	benef2	-5.1	+94.5	+309.5	-39.2	+172.1	-49.2

YTD as of 2026-10-08 · source: Yahoo Finance

Samsung E&A operates across KOSPI, plant EPC, Middle East + Samsung group work. It is up +48.9% in 2026. The stock (+48.9%) is ahead of both its demand side (avg +21.3%) and supply side (avg -44.3%). Having run ahead of its chain, it is the first spot to give back if customer numbers fail to follow. Among connected nodes the furthest ahead is Samsung Electronics (+59.7%) and the furthest behind is Ecopro HN (-44.3%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Consolidated 2025 revenue was 9.03 trillion won, with Aramco and Samsung Electronics together making up 53% of sales.

Analysis generated from returns as of 2026-09-04

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