Daewoo Construction Launches Baek Jeongwan Era... Large-Scale Overhaul and Organizational Restructuring After M&A

President Baek Jeong-wan of Daewoo Construction

On the 28th, Daewoo E&C completed the merger and acquisition (M&A) process with Jungheung Construction through an extraordinary general meeting of shareholders and carried out a large-scale organizational restructuring and executive appointments.

Daewoo E&C announced on the same day, "We have launched a new CEO, Baek Jeong-wan, and simultaneously implemented organizational restructuring and regular executive appointments." Through this restructuring and appointments, Daewoo E&C's organization was reorganized into 8 headquarters, 2 divisions, 37 offices, 1 center, and 115 teams.

Regarding this measure, a Daewoo E&C official explained, "With the completion of the M&A process with Jungheung Group, we focused on ensuring organizational stability and establishing a swift and efficient decision-making system."

First, Daewoo E&C is focusing on strengthening safety management in accordance with the recently reinforced Serious Accident Punishment Act. To clarify the authority and responsibility for company-wide safety tasks, the company decided to appoint a Chief Safety Officer (CSO) directly under the CEO, with the head of the Safety and Quality Headquarters concurrently serving in this role.

Euljiro Daewoo Construction Building

In addition, similar functions scattered across various divisions were integrated and placed under the Strategic Planning Headquarters to play a central role in preparing a mid- to long-term growth foundation.

The Housing Construction Business Headquarters established a new execution division for site management and support to maximize organizational efficiency and created a remodeling business team to continuously strive to discover new growth opportunities.

A Daewoo E&C official stated, "Through this organizational restructuring and appointments, we will address the immediate tasks of rapid organizational stabilization and maximizing synergy with the group."

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