Lee Kang-seok, the new CEO of Daewoo Engineering & Construction, has announced plans to enhance profitability and financial stability while expanding investments in future growth areas such as artificial intelligence (AI) infrastructure, data centers, and robotics.
Daewoo Engineering & Construction held Lee's inauguration ceremony on October 2 at its headquarters in Euljiro. In his inaugural speech, Lee expressed his commitment to strengthening the company's core competencies and boldly venturing into uncharted territories to secure new growth drivers.
To adapt to the rapidly changing construction industry and market environment, Lee outlined a management direction based on the principles of 'SUMMIT, TOGETHER, and CHALLENGE.'
Under the SUMMIT initiative, the focus will be on enhancing the competitiveness and profitability of existing projects. The company plans to select high-quality projects while adhering to safety, quality, cost, and process fundamentals, and to strengthen risk management for each project to improve profitability. By improving the collection of receivables and enhancing financial stability, Daewoo aims to secure a solid financial foundation for reinvestment in technology, talent, and future projects.
Improving communication with labor unions and enhancing organizational culture are also key priorities. The TOGETHER initiative emphasizes building trust and fostering communication with labor unions to create a safe and conducive work environment.
Additionally, the company will pursue business expansion to secure future growth drivers. The CHALLENGE strategy aims to actively explore new markets that can be linked to existing construction projects, leveraging Daewoo's accumulated technological expertise and business experience.
Particularly, the company plans to expand into high-growth areas such as AI infrastructure, data centers, and robotics. If necessary, strategic mergers and acquisitions (M&A) and investments will be pursued to strengthen business competitiveness. Internationally, Daewoo intends to expand its business scope based on existing key markets to secure a foundation for growth.
Lee stated, “The new future does not come by waiting; it is created through our choices and actions. I will lead the way. Let’s reach the summit together.”
Lee Kang-seok joined Daewoo Engineering & Construction in 1996 and has held various positions, including head of management support and head of external cooperation. He is known to have participated in the merger and acquisition task force during the acquisition of Daewoo Engineering & Construction by the Chungheung Group.
* This article has been translated by AI.
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