HJ Heavy Industries Construction Division, Kim Wan-seok Appointed as New CEO

HJ Heavy Industries Construction Division announced on the 29th that Kim Wan-seok has been appointed as the new CEO (photo) following a shareholders' meeting.

New CEO Kim Wan-seok joined Dongbu Construction in 1988, gaining extensive experience and expertise in the civil engineering sector. Since 2021, he has played a significant role in the sustained growth of the company as the CEO of Dongbu Engineering. He is a representative construction expert who has been involved in all areas of construction for about 36 years, from fieldwork to management. In particular, he is recognized as an outstanding engineer and sales expert in civil engineering, and is regarded as the right person to lead HJ Heavy Industries' performance improvement.

HJ Heavy Industries changed its name from Hanjin Heavy Industries in 2021 and has been laying the foundation for a new leap forward. As a result, it has consecutively secured orders for projects such as the Shinbundang Line Gwanggyo-Homaesil double-track railway construction, Korea Energy University campus construction, Boryeong New Complex Unit 1 construction, and Indeokwon-Dongtan double-track railway construction, securing a backlog of orders worth more than 5 trillion KRW, equivalent to about five years of work.

Orders in the maintenance business sector have also grown by more than 20% annually in recent years. As of the end of March this year, the company secured about 320 billion KRW in orders, which is well over half of the previous year's order amount. There are no real estate project financing (PF) projects, which are considered a risk factor in the construction industry.

CEO Kim Wan-seok said, "It is an honor to be able to write the next chapter of HJ Heavy Industries, which has a long history of 86 years," and added, "Despite the difficult economic crisis, we will do our best to become a sustainable growth company and a trusted first-class construction company."