GS Engineering & Construction announced on the 20th that it has appointed Heo Yunhong, President and CEO of Future Innovation and son of Heo Changsoo, Honorary Chairman of GS Group, as its new CEO.
Born in 1979, President Heo Yunhong started his career as a new employee at GS Caltex and, after completing his initial employee period, joined GS Engineering & Construction in 2005. He has accumulated diverse business and management experience across various fields such as finance, management innovation, and plant business. He has worked not only at headquarters but also at domestic and overseas sites including housing, infrastructure, and overseas plants. Notably, since 2019, he has actively led the New Business Promotion Office, driving the discovery and investment of future strategic businesses such as overseas market development, water treatment business, and modular business. As a result, the new business division achieved remarkable performance, including reaching 1 trillion KRW in sales in 2022.
The appointment of the new CEO at GS Engineering & Construction is interpreted as part of a generational shift aimed at restoring the company’s image, which has been damaged by various recent issues, and preparing for a new leap forward. With the appointment of a young CEO, the generational change within the organization is expected to accelerate. Along with the large-scale organizational restructuring carried out last week, a transformation into a younger and more dynamic organization is also anticipated.
Going forward, President Heo Yunhong will strengthen the competitiveness of existing businesses as the CEO of GS Engineering & Construction, while actively fostering continuous new business development. He plans to fully implement an autonomous management system by business division based on performance-oriented personnel management. He will also actively promote organizational culture innovation, including changing the way work is done.
In particular, he is expected to further solidify the on-site management system that prioritizes quality and safety, and to engage in proactive on-site management activities that directly oversee the construction sites, which are the foundation of the construction industry.
President Heo Yunhong is committed to fulfilling his responsibilities and roles as the CEO to restore and newly advance the reputation of GS Engineering & Construction and Xi by focusing on the basics of construction such as workforce management, construction management, and safety and quality control at the sites.
GS Engineering & Construction explained, “Amid increasing uncertainties in the internal and external management environment, based on his experience in actively and boldly discovering future strategic businesses and growing the new business division, this appointment will be a new opportunity to overcome the current crisis and take a step forward.”
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