Hanwha Construction Vice Chairman Kwangho Choi Promoted... Forena and Eco-Friendly Business Progressing Smoothly

Choi Kwang-ho, CEO of Hanwha Engineering & Construction (photo), was abruptly promoted to vice chairman in the executive reshuffle involving five Hanwha Group affiliates held on the 26th.

Appointed as CEO of Hanwha Engineering & Construction in June 2015, Choi has been recognized for his continuous improvements in sales and profitability, transforming the business structure to focus on development projects, and advancing eco-friendly new businesses such as wind power generation.

In the housing sector, he firmly established the newly launched brand apartment "FORENA" as a premium brand in 2019. "FORENA" means "connection" in Swedish and embodies Hanwha Engineering & Construction’s commitment to creating a new residential culture through "connecting people and spaces."

Continuing a streak of sold-out sales nationwide, the company is forecasting steep performance growth this year as well. It plans to supply about 12,000 housing units this year (contract amount of 2.9 trillion KRW), which is 2.6 times the average supply volume over the past three years.

The company is also standing out in complex development projects. Building on the success of the Gwanggyo complex development project, it has secured four station-area development projects (total project cost of 5 trillion KRW) including the northern Seoul Station area since 2020, rising to become the top domestic company in large-scale complex development projects. The eco-friendly business sector, consisting of wind power generation, sewage treatment, and hydrogen projects, is one of the future strategic businesses and forms a core pillar of continuous growth.

Hanwha Group stated, "We carried out early personnel changes to respond quickly and proactively to the rapidly changing business environment," adding, "Under the new CEO system, we will form an optimal new organization and proactively establish next year’s business strategy."

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