Daewoo Engineering and Construction Co. will be a leading global construction firm by restructuring its operational set up for an age of low growth, said President Park Chang-min in his inaugural address after taking over as CEO of the construction company on Aug. 28.
“I will change its DNA so that it will jump high enough to be counted among top builders in the world,” the new CEO declared.
He said he knows that there are high expectations for him as the first outsider to lead the company, but also concerns about his strategies.
He will first become a member of the Daewoo family and listen carefully to what’s going on in the company with an open mind. Park also promised to work on four major areas to improve public trust in the company, including financial stability, organizational effectiveness, productivity and ethical understanding among all personnel working for the company.
Daewoo E&C has been enriching people’s lives ever since its establishment in 1973.
“Operating out of a belief that change is a primary means of bringing about a better world, we have never stopped trying to be creative and innovative,” according to the company. “We believe in the power of construction to change the world, and are committed to continuing in our role as a market-leading global construction convergence innovator.”
“Our commitment to change is planting seeds of hope throughout the world,” the company adds. A prime example of this is Bonny Island in Nigeria. Situated on the edge of Rivers State in the Niger Delta, this small island has been reborn as a treasure trove of energy, thanks to an LNG plant that Daewoo E&C built there. It shows how Daewoo E&C can make a difference by turning Africa’s potential into a reality.
“Our ultimate goal is to help the African continent turn into a global economic showpiece.”
“Our construction triumphs also include the Busan-Geoje Fixed Link, which involved building a fully-immersed underwater tunnel, and the Sihwa Lake Tidal Power Plant,” Daewoo E&C said.
The power plant is the first of its kind in South Korea, and the largest such facility in the world. “We are also experts at building bridges in the sea and producing energy from the waves of the ocean. Our vision is to be a Global E&C Leader, creating the highest-possible values by combining the strengths of our world-leading technologies and highly-skilled human resources,” according to Daewoo E&C.
“Our goal is to be a leading construction convergence innovator of South Korea. This includes developing new growth engines and creating a wide variety of financing-linked business opportunities in South Korea and the world through our affiliation with the Korea Development Bank.
“We are also spreading our wings beyond South Korea and becoming a world-leading construction player. Going forward, Daewoo E&C will continue deploying its technological acumen, industry-leading human resources, and commitment to change and challenge to make the world happier and healthier. We anticipate your continuous interest and support as Daewoo E&C continues making a difference in the world.”
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A view of the building in downtown Seoul where Daewoo Construction has offices.
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