Shindonga Construction appoints Chae Jeong-seop as co-CEO

Shindonga Construction has appointed Chae Jeong-seop, a former chief executive of Bosung Group affiliates, as its new CEO, transitioning to a co-CEO structure alongside incumbent chief Kim Se-jun.

The company held an inauguration ceremony for Chae on Wednesday and said the appointment is intended to strengthen management expertise and establish a faster decision-making framework.

A native of Damyang, South Jeolla Province, Chae joined Bosung Construction in 1992 and went on to handle key roles across the construction industry, including development projects, architectural sales and management planning.

From 2018, he served successively as CEO of Hanyang Co., Bosung Industries and Solaseado, overseeing projects that included the Cheongna City Tower, the Cheongna International Finance Complex, a tourism and leisure development project in Saemangeum, and the Haenam enterprise city project "Solaseado."

In his inaugural address, Chae said he would "drive the company's sustained growth on the strength of extensive field experience and drive," adding: "As the construction industry faces its current crisis, let us all look in the same direction and run together as one."

Shindonga Construction said the co-CEO structure, with Chae and Kim leading together, is designed to stabilize the organization and secure new growth engines.

A company official said the arrangement would "establish a swift and professional decision-making framework and accelerate organizational stability and the securing of new growth engines through enhanced management expertise."

Meanwhile, Shindonga Construction won a contract last month for the Pungnap Riverside Hyundai street-unit redevelopment project in Pungnap-dong, Songpa-gu, Seoul. The company plans to expand its "Familier" residential brand, focusing on housing projects along the Han River.