Jang Se-woong, Co-CEO of Daewoo Shipbuilding & Marine Engineering Construction, "Innovation in Design and Construction Value and Mutual Growth"

Jang Se-woong, Co-CEO of Daewoo Shipbuilding & Marine Engineering Construction.

[Asia Economy Reporter Jang Hyowon] “Creating a virtuous cycle ecosystem of value innovation”

KOSDAQ-listed Korea Technology subsidiary Daewoo Shipbuilding & Marine Engineering Construction (Chairman Kim Yongbin) announced on the 2nd that Jang Sewoong, Co-CEO, presented a future blueprint for ‘VE Innovation and Win-Win Growth.’

Previously, Value Engineering (VE) is a technique that creates optimal alternative designs through functional analysis of facilities, improving not only cost reduction but also the performance and quality of the facilities.

The company plans to establish a virtuous cycle ecosystem of value engineering that achieves cost reduction and profit generation through VE development models such as in-house VE competitions, while also improving quality, positively impacting financial structure and even order acquisition.

In addition, the company aims to overcome the construction industry recession caused by recent raw material price increases through VE value innovation and to lay the foundation for this year’s order target of 2 trillion won through aggressive order acquisition.

Win-win growth with developers and affiliates was also proposed.

The company suggested a model of joint growth by exploring cost reduction measures together with developers, while emphasizing synergy maximization with the parent company Korea Technology, which has positioned new future visions such as real estate-based blockchain business and real estate development business related to construction.

CEO Jang said, “Due to recent raw material price increases, not only the construction industry but also overall prices have soared, leading to a general economic downturn,” adding, “Our company will overcome the industry recession with continuous technological innovation and innovative ideas.”

Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction won an excellence award at the VE competition hosted by the LH headquarters at the end of last year.

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