Jinhung Corporation Appoints Vice President Kim Taegyun as New CEO

Former Head of Housing Business Division at Hyundai Engineering & Construction, 'Housing Expert'
Expecting Increased Orders through Strengthening Urban Renewal Sector

Hyosung Group construction affiliate Jinheung Enterprise announced on the 28th that the board of directors has appointed Vice President Kim Taegyun as the new CEO of Jinheung Enterprise.

CEO Kim is an expert in the architecture and housing fields with 30 years of experience. He graduated from Kyung Hee University with a degree in Architectural Engineering, earned a master's degree in Architectural Engineering from Hanyang University, and a doctorate in Real Estate from Seoul Venture Graduate School. He joined Hyundai Engineering & Construction in 1990, serving as head of the Budget Planning Team in the Finance Headquarters and director of the Housing Business Management Office in the Architecture Business Headquarters. In 2016, he moved to the Housing Business Headquarters and served as the head of the Housing Business Headquarters until 2022.

Kim Tae-gyun, New CEO and Vice President of Jinheung Corporation
Photo by Jinheung Corporation

While working at Hyundai Engineering & Construction, he secured the Hannam 3 District redevelopment project and achieved the industry's number one urban maintenance order record for four consecutive years from 2019 to 2022 (total orders amounting to 24 trillion KRW over four years). In 2016, he contributed to launching and successfully establishing Hyundai Engineering & Construction's premium housing brand 'The H'.

Despite the crisis that swept the construction industry last year due to sustained high interest rates, soaring raw material prices caused by inflation, an increase in unsold units due to the real estate market downturn, and PF insolvency caused by the Taeyoung Construction incident, Jinheung Enterprise continued its growth trend by achieving sales of 759.4 billion KRW, operating profit of 51.7 billion KRW, and net profit of 45.3 billion KRW.

Jinheung Enterprise stated, "The appointment of CEO Kim is part of a management strategy to actively respond to the sluggish real estate and construction markets," and added, "We expect him to present a direction toward becoming a sustainable company through increased orders and sales growth."