Daewoo E&C Establishes 'Financial Strategy Headquarters' Ahead of Kim Bohyun Era to Enhance Profitability

Reorganization of Safety Organization Directly Under CEO to Strengthen Safety
New CEO Kim Bohyun to Be Officially Appointed at Next Month's Board Meeting

Kim Bohyun Appointed as New CEO of Daewoo Construction

Daewoo E&C announced on the 11th that ahead of the official inauguration of the new CEO, Kim Bohyun, it has merged the finance and strategy functions into a single ‘Finance Strategy Headquarters’ and reorganized the safety organization directly under the CEO, along with conducting regular executive appointments. The plan is to streamline the organization and achieve generational change through this restructuring.

The Finance Strategy Headquarters will play a role in expanding profitability-focused management based on stable risk management. Additionally, to eradicate major accidents, the safety organization was separated from the existing Safety and Quality Headquarters, with the CSO (Chief Safety Officer) becoming the dedicated control tower, reorganized directly under the CEO. A Daewoo E&C official stated, "We have put great effort into strengthening safety to embody our commitment to safety as the top priority."

The existing quality organization has been reorganized into ‘Regional Quality Teams’ within each business division and deployed on-site. A Daewoo E&C official explained, "This will enable continuous quality management support closely linked to construction sites." Furthermore, to strengthen various external cooperation and communication, including media relations, the existing Public Support Group was reorganized into the ‘External Cooperation Group.’

Daewoo E&C also reflected various measures in this organizational restructuring to lay the foundation for sustainable future growth. Responding to the demand for smart construction technology, a new ‘Smart Construction Technology Research Team’ was established to be responsible for technology development and operations. The goal is to elevate technology by expanding the application of BIM (Building Information Modeling) across all construction technology fields.

Seeing the expansion of the aging sewage treatment plant modernization market, an ‘Environmental Water Treatment Team’ will also be newly established. The local Vietnamese corporation, DECV, will be reorganized to lay the foundation for business continuity in Vietnam, including expanding construction and development projects. With this restructuring, the previous structure of 7 headquarters, 3 divisions, 4 offices, and 83 teams has changed to 5 headquarters, 4 divisions, 5 offices, and 79 teams.

The executive appointments focused on improving the organization’s vitality with younger personnel. About 40% of all team leaders were replaced with new leaders, and for the first time, a female engineer was appointed as an executive. Park Sunha, a former site manager, was promoted to managing director. This appointment was made ahead of the official inauguration of the new CEO, Kim Bohyun, at next month’s board meeting.

A Daewoo E&C official stated, "We will overcome the construction market crisis by establishing a foundation for sustainable growth through faster decision-making and strengthened responsible management systems, with all employees working together."