Hyundai E&C Declares New Vision

Calls for meeting challenges, change and reform to be a top global builder with 23 tln won in annual sales and 54 tln won in new orders

Hyundai Engineering and Construction Co. recently announced its Vision 2015 designed to bring its total annual sales to 23 trillion won and new project orders to 54 trillion won annually with operating profit of 9.5 percent to rank among the top 20 builders in the world.
On Jan. 4, the company held a ceremony to declare the new vision with heads of its affiliates led by President Kim Joong-kyum and some 600 participants attending under the catchphrase of “2015 Global One Pioneer.”
President Kim said the new vision for the company can only be met with a ceaseless, challenging spirit on the part of everyone in the company with new reformative thinking as a pioneer to explore and open the new construction territory and build up the five largest new growth engines. He said the new vision also calls for unity and harmony among affiliates to create synergy among them so that the company can rank among the top 20 builders in the world.
Kim said in order to meet the target under the new vision, the company has decided to push to upgrade its business structure and strengthen its global competitive power, making them the two strategic points for all-out moves by the company to achieve its targets.
The company will also strive to make its portfolio balanced, develop new growth engines, enter new emerging markets, upgrade its business models, secure competitive power globally and train talented personnel for its future operations under the company’s seven key tasks.
The company’s new growth engines include overseas nuclear power plants, offshore gas and oil exploration, environment, new recycled energy and comprehensive development. Its five core products include LNG, GTL, offshore marine structure, skyscrapers, green homes and green buildings.
With Hyundai E&C being a member of the Korean consortium that won the rights to supply, build and operate four nuclear power plants in the United Arab Emirates last month, the company has been considering setting up a special unit to engage in the construction of nuclear power plants to make advances into the world nuclear power plant market, CEO Kim said.
He said the company has been in business as long as the history of the construction industry in Korea, extending for 62 years this year, and it will devote itself to the nation and society as a responsible corporate citizen winning the public’s respect on its management system, dedicating itself to business development and the happiness of the whole human race as a futuristic enterprise. In order to do that, the company will base its moves on those objectives with an entrepreneurial, challenging spirit, creativity, change and reform, along with harmony and mutual survival, Kim said.
The company announced the new slogan “We Build Tomorrow” to express that it will be together, creating and changing. It also means the company will be one in mind with customers to further show its image to create better fields for life and its shape for tomorrow.
Hyundai E&C has a lot to be proud of regarding its record last year: It recaptured the No.1 spot in terms of construction capacity in the construction industry for the first time in six years; it ranked among the top 20 on the DJSI list; and it posted its largest annual sales to continue to maintain its top position in the industry.
President Kim said, “We’ve got to stand out as the top global company through continuous change and reform. The new vision is not the ultimate objective, but a milestone along the way of a long journey in sustaining growth to be a super construction firm recognized by the world.” nw

Hyundai E&C and its affiliate heads led by HDEC Predisdent Kim Joong-kyum, 5 L, participate in a ceremony on Jan. 4 to declare the New Vision for 2015 aimed at boosting HDEC’s annual sales to 23 tln won.