DL E&C elected Seo Young-Jae as CEO: “Accelerating new business and innovation”
DATE 2024.05.10
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DL E&C elected Seo Young-Jae as CEO: “Accelerating new business and innovation”
- having strength of expertise and experience in ‘new businesses’ such as CCUS·SMR … ‘proactive risk management’ amid uncertainty
- ‘Management innovation’ beyond the limits of the conventional construction industry… a ‘converging leader’ encompassing technology and management
DL E&C announced on the 10th that it held a general meeting of the stockholders and elected Seo Young-Jae as its CEO. The election of CEO Seo is summarized in three keywords: ‘new business’, ‘risk management’ and ‘innovation.
DL E&C’s decision to elect Mr. Seo shows its commitment to discovering new businesses, such as CCUS (Carbon dioxide Capture, Utilization and Storage), SMR (Small Medium Reactor) and hydrogen and ammonia, to foster them as next-generation growth engines. CEO Seo is recognized for successfully introducing novel concept of home appliances, such as home beauty devices and plant cultivators, into the market, making him well-suited for exploring future new businesses. As he has experienced in all growth stages from discovery to implementation and commercialization, he plans to accelerate the commercialization of new growth engines in order to achieve tangible results.
As the uncertainty in the global business environment grows, the role of CEO Seo, who has capabilities for risk management, is becoming more necessary, which is another background for this election. In recent days, risk management is the biggest topic in the construction industry. DL E&C demonstrates its excellent capabilities in selective order-taking focusing on profitability and risk management, and maintains the highest level of financial soundness in the industry. CEO Seo is expected to contribute to proactive, systematic and penetrative risk management based on his work experience in strategic planning and management diagnosis and knowhow in successfully turning around mature businesses.
DL E&C plans to speed up innovation based on the leadership of CEO Seo who has extensive experience in improving organizational systems and business processes. The goal is to increase the organization’s responsiveness to the construction paradigm shift centered on smart construction technology and demographic changes. DL E&C has consistently pursued meaningful innovations. With the election of CEO Seo, DL E&C anticipates that it will be able to examine its management activities from various perspectives and generate synergistic effects of convergence through experience and business insights that are different from those in the existing construction industry.
This is the first change in CEO of DL E&C since the Company has spun off in 2021. The board of directors and the management of DL E&C have redefined the roles and qualifications required for the next CEO of DL E&C, and have been continuously verified candidates to meet them. As one of the oldest construction companies in Korea, its core businesses, including housing, civil engineering and plants, are already well-established, and therefore, the CEO’s role is to create synergies between businesses and to discover opportunities for future new businesses.
An official from DL E&C said, “Rather, there is a consensus that DL E&C’s organizational system can be innovated by new attempts from a blank state. We hope CEO Seo will leverage his strengths in discovering and fostering new businesses, and strategic planning, and thereby prepare a future strategy for DL E&C.
CEO Seo graduated from the department of electronic engineering at Kyungpook National University, and earned an MBA from Illinois State University at Urbana-Champaign. He is evaluated as a ‘converging leader’ with an engineering background and knowledge in business administration. He joined LG Electronics in 1991, and led growth in key business divisions, including TV/AV (audio and video)/IT division and Biz Incubation Center.
