Holds ceremony to declare its new corporate vision, 'Build Together' in celebration of 45th anniversary
Daewoo E&C revealed its goal of raising annual sales to 17 trillion won by 2025 to become a global top 20 contractor.
Daewoo E&C held a ceremony to declare its new corporate vision, ¡°Build Together,¡± at the Daewoo Construction Technology Research Institute in Suwon, south of Seoul, on Dec. 31 prior to the 45th anniversary which fell on Nov. 1. The new vision alludes to the contractor¡¯s determination to grow into a company, a life partner, to customers and realize the best values.
Daewoo E&C suggested a strategic goal to become a global top 20 contractor by chalking up 17 trillion won in sales and 1.5 trillion won in operating profit by 2025. In order to realize the mid- and long-term strategic goal, Daewoo E&C revealed four core strategies – upgrading execution capabilities, ramping up marketing capabilities, securing new growth engines, and innovating management infrastructure.
The contractor plans to reinvent project execution capabilities such as safety and quality management by introducing advanced project management tactics, while strengthening product and market capabilities by diversifying and upgrading products with a competitive edge.
Daewoo E&C plans to max out synergetic effects of the existing businesses while developing and pushing new businesses so that stable profits can be created as well as expanding value chain by aggressively participating in investment and development project and operation business.
The contractor plans to stabilize sales and create profits by proactively participating in inter-Korean economic cooperation projects to brace for the unification of the Korean Peninsula. Daewoo E&C President Kim Hyung said, ¡°(Daewoo E&C) will solidify its standing as a global company based on substantial management, future management and principle management to ensure sustainable growth and development.¡±
About Daewoo E&C
Ever since its founding, Daewoo E&C has been contributing to South Korea¡¯s economic development by building such major infrastructures as roads, railways, and harbors.
¡°We became a seminal contributor to the ¡°Miracle on the Hangang River" by building a series of major facilities in the 1970s,¡± the company said. ¡°We are also expanding from our traditional overseas bases into promising new markets in the Middle East, Asia, and South America.¡±
Daewoo E&C is a leader in the construction of high-rise buildings and intelligent building systems, or IBS¡¯s. ¡°We build safe, convenient, and efficient work spaces ranging from business facilities and hotels to exhibition, medical, and sports centers.¡±
Daewoo E&C¡¯s plant construction projects have played a major role in the development of South Korea¡¯s economy. Beginning with the turnkey Ulsan Thermal Power Plant in 1977, they have included combined-cycle, thermal, and tidal power plants and LNG storage tanks.
¡°We have also built a large number of high-value-added plants overseas. We are now taking on even more plant, nuclear and oil & gas projects, and entering into the new and renewable energy sector.¡±
Daewoo E&C is South Korea¡¯s market leader in terms of housing supply. This includes our prestigious PRUGIO residential complex brand.
¡°We are also enriching the lives of our customers in such areas as urban residential and commercial complexes, new business and urban development, remodeling and urban reengineering.¡±
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