Construction Industry CEOs "Crisis, but There Has Never Been a Time Without Crisis... Breakthrough Through New Markets and New Businesses" in Unison (Comprehensive)

Tourists who came to greet the New Year at Jeongdongjin Beach in Gangneung-si, Gangwon, a famous sunrise spot, are watching the magnificent sunrise.
Jeongdongjin - Photo by Kim Hyunmin kimhyun81@

CEOs in the construction industry unanimously emphasized that the new year should be a time to strengthen internal capabilities amid a challenging economic environment. There was also a common call to find breakthroughs by discovering new markets and new businesses through smart work methods in a rapidly changing market environment driven by the 4th Industrial Revolution.

Kim Chang-hak, CEO of Hyundai Engineering, stated on the 2nd, "For 2020, we have set 'Collaborative Innovation, New Leap 2020' as our management policy to leap toward the future," emphasizing, "It is time to take new steps to become a global engineering company based on challenge and collaboration."

Kim said, "We must focus more on our strong areas and accumulate experience to secure overwhelming competitiveness," adding, "To expand entry into new markets, it is necessary to strategically respond to changes in the business environment by diversifying business regions and types." Technologically, he stressed the need to accumulate experiential assets in digital systems to improve work efficiency and establish a risk preemptive management system. He added that it is essential to secure new growth engines and smart construction technologies in response to paradigm shifts in the construction market.

He said, "Last year, we experienced a difficult economic situation due to the ongoing US-China trade dispute and low growth. The construction sector also faced deteriorating business conditions due to reduced overseas orders and strengthened real estate regulations. Although the uncertainty in the management environment continues this year," he said, "Looking back, there has never been a time without crises. Let us not fear crises but boldly prepare for the future."

Kwon Soon-ho, CEO of HDC Hyundai Development Company, stated, "Let us complete the acquisition of Asiana Airlines smoothly and achieve rapid stabilization and integration to leap forward as a mobility group." Kwon emphasized, "The economic uncertainty after 2020 will be more complex and prolonged than now. Let us move forward as the first year of a new leap based on strong fundamentals."

Kwon said, "The acquisition of Asiana Airlines is a turning point that will not come again for the HDC Group," adding, "With the expansion of the group’s scope, we must focus on creating synergies among affiliates such as aviation, transportation, logistics infrastructure, hotels, resorts, power, and energy to diversify our business portfolio and proactively discover new points of added value." He continued, "Evolution into a comprehensive financial real estate company is also an unavoidable goal," and said, "Let us stabilize the portfolio at each business stage such as development, operation, ownership, and sale through practical use of real estate finance like REITs and infrastructure funds."

Kim Hyung, CEO of Daewoo E&C, greeted employees at the Twin Tower in Jung-gu, Seoul, on his first workday of the new year. Kim said, "Although many difficulties are expected this year, let us create differentiated competitiveness through qualitative growth by strengthening capabilities, achieving results for future growth engines, and improving management efficiency through system establishment. Let us also resolve to become a strong and respected company that we can take pride in and that others cannot easily challenge." He presented three major management policies: implementing the new vision and mid-to-long-term strategies, strengthening communication among executives and employees, and realizing ethical management.

Ha Seok-joo, CEO of Lotte Engineering & Construction, said, "Recently, the political, economic, and social environment surrounding our construction industry has faced many changes and challenges. Various technologies such as artificial intelligence (AI) driven by the 4th Industrial Revolution are creating completely different competition and game rules," he pointed out. He added, "2020 will be a critical year threatening our survival due to these changes." He urged, "To take a step further as a global construction company without being shaken by external environmental changes, we must focus on strengthening profitability and internal capabilities, thoroughly prepare for possible foreign exchange and liquidity crises, and enhance the company's competitiveness and constitution to secure future growth engines." Lotte E&C set the slogan for this year as '2020! The Year of Pioneering Future Markets through Internal Growth!' To become a 'game changer' that changes the market framework itself, the CEO emphasized the importance of management to improve profitability, strengthening management constitution based on fundamentals and principles, enhancing global and future market development, and establishing a smart organizational culture.

Ahn Jae-hyun, CEO of SK Engineering & Construction, said, "We must change the management paradigm, create economic value (EV) and social value (SV), and build a company where all members are happy," adding, "We have designated 2020 as the 'first year of happiness management' and the year to substantially change the business model (BM), aiming for all members to practice happiness management together." To this end, he emphasized expanding eco-friendly business proportions, improving productivity, expanding self-contained Squad organizations, and participatory management by members.

Leaders of construction and real estate organizations also agreed to work together to revitalize the industry in the new year. Yoo Ju-hyun, chairman of the Korea Construction Association, said, "The construction industry in 2019 was eventful," and added, "In 2020, the government announced a total construction investment plan of 100 trillion won in private, private investment, and public sectors, so we expect the construction environment to improve." He emphasized, "The construction industry must continue to serve as the spearhead and growth engine of the national economy."

Park Jae-hong, chairman of the Korea Housing Builders Association, said, "In 2020, we will focus on implementing market-friendly housing policies so that member companies can concentrate comfortably on housing projects," and added, "We plan to actively carry out our core tasks, including continuously proposing housing regulation relaxation measures to government authorities and related parties." Moon Joo-hyun, chairman of the Korea Real Estate Development Association, emphasized, "It is time to prepare for the future without giving up, with constant innovation, creativity, and ideas to overcome crises."

This content was produced with the assistance of AI translation services.