Daewoo Engineering & Construction (047040.KS) said on the 5th that it formally appointed Lee Kang-seok as chief executive officer following a shareholders' meeting and a board meeting on the 2nd, and held an inauguration ceremony.
In an inaugural address, the new CEO presented three core management priorities — Summit, Together and Challenge — as the basis for the company's next leap forward. "A new future does not arrive simply because we wait for it. It is built through our choices and our execution," the CEO said.
Summit reflects a commitment to reaching the top by building on fundamentals and internal strength. It calls for responsible management of the entire process from order wins through project completion, and for holding firm on core elements including safety, quality, cost and schedule. The company said it would select high-quality projects and strengthen risk management to improve profitability, while also improving its financial structure to establish a stable business foundation.
Together signals an overhaul of corporate culture built on mutual understanding and collaboration. The CEO said the company would lower barriers between construction sites, headquarters and business divisions, and create a communication-driven organization where experience and opinions are shared freely. Cooperation with the labor union drew particular emphasis. Building on trust established so far, the company plans to actively gather feedback from the field and suggestions from employees.
Challenge expresses the intent to move boldly into new markets and businesses on the strength of accumulated technology and experience. In existing businesses, the company will raise quality and technical capability to sharpen competitiveness, while expanding its overseas footprint around regional hubs. It also plans to seek out future growth areas including artificial intelligence infrastructure, data centers and robotics, and to pursue strategic mergers and acquisitions alongside investments to build a new foundation for growth.
"We will make what we already do well even stronger, and we will take on the areas we have never entered without fear," the CEO said. "Let us aim higher with Summit, unite our strengths through Together, and boldly take on a new future with Challenge."
