Taeyoung Construction Appoints Vice Chairman Choi Geum-rak and President Choi Jin-guk as Co-CEOs

Taeyoung Construction announced on the 28th that at the board of directors meeting and the regular general shareholders' meeting held on the same day, Vice Chairman Choi Geum-rak and President Choi Jin-guk were appointed as co-CEOs.

Vice Chairman Choi Geum-rak (left) and President Choi Jin-guk of Taeyoung Construction / Photo by Taeyoung Construction

By appointing co-CEOs with abundant experience and expertise, the company plans to respond swiftly to the uncertain management environment and promptly achieve management normalization.

Vice Chairman Choi Geum-rak, born in 1958, graduated from Seoul National University with a degree in Trade and joined SBS, where he served as Head of the News Headquarters and Head of the Broadcasting Support Headquarters. After leaving SBS, he served as the Chief Public Relations Secretary at the Blue House and worked as an advisor at the law firm Kwangjang before being appointed Vice Chairman of TY Holdings in December last year. He has been focusing on assisting Chairman Yoon Se-young, the founder of Taeyoung Group, in resolving group issues stemming from Taeyoung Construction's workout.

President Choi Jin-guk, born in 1957, graduated from Seoul National University of Science and Technology and Yonsei University Graduate School, and joined Taeyoung Construction in 1982. He was promoted to Executive Director of the Architecture Construction Team 1 in 2005 and was appointed President in December last year. He is an on-site expert with extensive experience in large-scale domestic complex facility development sites such as the Gwangmyeong Station area complex and Seoul Magok District CP4 zone, as well as rich expertise in construction sites.

A Taeyoung Construction official stated, "We plan to establish a business structure through a strategy of selection and concentration and strengthen management performance and soundness through thorough profit and loss and risk management," adding, "We will lay the foundation to graduate early from the workout."