Lee Kang-seok officially takes helm at Daewoo E&C, vows to pursue AI, data center growth

Lee Kang-seok officially took office as CEO of Daewoo Engineering & Construction on Friday, outlining three core management directions to drive the company's growth and pledging to actively pursue future-oriented fields including AI infrastructure, data centers and robotics.

Daewoo Engineering & Construction said Monday that Lee was formally appointed following a shareholder meeting and board meeting on Friday, after which an inauguration ceremony was held. The ceremony took place at Prugio Art Hall at the company's Euljiro headquarters and was attended by Chairman Jeong Won-joo, union representatives, senior executives and invited guests.

In his congratulatory remarks, Jeong said he sincerely welcomed Lee's appointment and expressed hope that all employees would unite to propel Daewoo Engineering & Construction into a global construction company. He added that safety must remain the top priority across all operations, urging every employee to stay mindful of that principle and spare no effort in maintaining safe worksites.

In his inaugural address, Lee presented three key management directions — "Summit," "Together" and "Challenge" — as his framework for responding to rapidly shifting industry and market conditions and leading the company into a new phase of growth.

Under "Summit," Lee said he would pursue excellence grounded in fundamentals and sound management. He pledged to oversee projects responsibly from the bidding stage through completion, maintaining unwavering standards in safety, quality, cost and scheduling. He also said the company would be more selective about which projects it takes on and strengthen risk management to improve profitability.

Lee also said he would work to recover accounts receivable and improve financial soundness to build a stable business foundation, reinvesting the financial capacity gained in technology, talent and future projects.

Under "Together," Lee said he would foster an organizational culture built on mutual understanding and collaboration. "I will work to break down barriers between worksites and headquarters, and between divisions, and create a culture where people can freely share their experiences and ideas," he said.

Lee also emphasized the company's relationship with its union. He said he would respect the roles and responsibilities of both sides, drawing on the mutual trust established with the union, and would listen openly to difficulties on the ground and suggestions from employees. Through this, he said, the company would create a safe and supportive workplace and work with employees to address challenges needed for sustained growth.

Under "Challenge," Lee expressed his determination to boldly pursue new markets and businesses, drawing on the technology and experience Daewoo Engineering & Construction has accumulated.

For ongoing projects, he said the company would sharpen its quality and technical capabilities to strengthen its competitive edge. Overseas, it plans to expand its footprint by focusing on key anchor markets. Lee also said the company would actively identify growth opportunities in areas such as AI infrastructure, data centers and robotics, and would pursue strategic mergers and acquisitions and investment where necessary to build new foundations for growth.

"A new future does not come from waiting — it is built through our choices and actions," Lee said. "We will make what we do well even stronger, and we will challenge the areas we have never ventured into without fear."

Reiterating his three management directions, Lee called on employees to "aim for higher goals, pool our strengths as one and boldly take on a new future," adding, "I will lead the way. Let's reach the summit together."

Meanwhile, Lee recently met with Turkmenistan President Serdar Berdimuhamedov late last month to discuss construction and infrastructure cooperation, signaling an early push to expand into new markets.