Management Based on Project Sites

Hyundai Construction Pres. Kim works to put the company back on track as top builder

President Kim Joong-kyum spends most of his time getting first-hand reports at the company’s 300-plus project sites both at home and abroad in line with his hands-on management policy.
The CEO, since taking office in March this year, visited the company’s project sites in the Middle East and Southeast Asia in April and May. He also toured jobsites in Indonesia and Singapore to call on the owners of the projects and jobsite managers to get first-hand information on how the projects have been proceeding to continue with his global management strategy. He discussed with project owners matters related to future cooperation for mutual benefits.
He also toured projects being undertaken at home including the company’s projects in the Yongjong Hanul District, Gyeongin Coastal Shipping Docks, the Incheon Chongla 28 block, the Songdo 151 Tower, the international terminal at the Incheon South Harbor and the terminal construction project as well as other projects in Incheon.
The CEO toured the Batangyad project for the repair of heavy equipment and storage and flew to Singapore to inspect the company’s project to bore boulders to build an oil storage facility underground and met with officials of the Jurong Town Corp., the owner of the project, to discuss matters on future cooperation for mutual benefits.
He also called on the construction site of the SIHO Alexandra Hospital with the Heath Minister of Singapore and attended a dinner hosted by the Ministry of Health in the evening.
The company is also currently engaged in the construction of the Marina View 43-storey office building, the Kutaik Fuat Hospital and the Fasir Harbor development project -- a total of eight projects in Singapore.
Since his arrival, the company clinched a total of 6.77 trillion won worth of construction projects both at home and abroad.
He has been focusing his management on the reform and reorganization of the company, system improvement and global jobsite management and new programs to invigorate inter-office communications. He has also been taking time to see how the company can make inroads into Africa and Central and South America for new construction projects. nw

One Step Closer toward Becoming a Global Leader
Hyundai E&C (HDEC) was selected as the country’s No. 1 builder, beating its rivals by a large margin, the Ministry of Land, Transportation and Maritime Affairs announced July 30 in a press release.
That will help accelerate the speed at which HDEC becomes a global top tier company by securing a series of large projects from overseas even amid the global recession.
According to the July 30 press release, HDEC posted approximately 9.209 trillion won in comprehensive construction capabilities, the highest among its peers. Evaluation is conducted in terms of track records, management situation, technological capability and credit rating. This is the first time in six years that the company regained the No.1 ranking. Prior to now, the company was once in trouble, although it maintained its status as the nation’s leading company in comprehensive construction capabilities for the 42 years since its inception.
Last year, HDEC became the country’s first builder to top 7 trillion won in sales, with its orders received in excess of 16 trillion won, hitting all-time highs. In the first half of this year, the company set an all-time first-half sales record of 4.64 trillion won, with operating profits of 231.2 billion won, firmly positioning itself as the country’s No.1 company.
“The No.1 ranking is not a surprise given that the company has long been the undisputed leader in the building industry,” a company official said. “Now, it is time to take another great leap forward to become a truly global leader that can compete with top-notch rivals in advanced countries.”
“The No.1 ranking is the result of the efforts all of our officers and employees have been making to fight against the management crisis of the early 2000s and reemerge as an industry leader,” he added.
“The 2009 evaluation is meaningful, not only because it helped us win back the throne, but because it also breathed a ‘can do’ spirit into us and can act as a source of power in creating change and innovation.”. nw

President Kim Joong-kyum of the Hyundai Engineering and Construction Co. gestures during a tour of the company’s jobsite in the country. (Photo by Courtesy of Hyundai E&C)