DL E&C

Daelim Vice Chairman Lee Hae-wook Promoted to Chairman

- Contribution to overcoming the Korean financial crisis (IMF financial crisis) and global financial crisis 
- Realization of high value-added in the petrochemical industry
- Implementation of takeoff as a global developer
 

Daelim announced the promotion of Vice Chairman Lee Hae-wook, who will assume office as Daelim Chairman effective January 14, 2019. Chairman Lee Hae-wook is the eldest son of Honorary Chairman Lee Joon-yong and is the grandson of the late Lee Jae-joon, founder of Daelim. Joining Daelim in 1995, Chairman Lee Hae-wook was promoted to Vice Chairman in 2010. Chairman Lee delivered a simple inauguration message to the employees and executives through the internal online board: “I will continuously develop the Daelim shaped by the Honorary Chairman and seniors until we can be armed with higher competitiveness.”

Chairman Lee led efforts to overcome the Korean financial crisis and global financial crisis through change and innovation. He carried out high-level restructuring to improve the corporate structure and ensure the competitiveness of the petrochemical industry during the Korean financial crisis. He made sure that the Daelim Group survived its crisis by forming strategic partnerships with global major petrochemical companies and carrying out big deals in the petrochemical industry. During the global financial crisis in 2008, he achieved top-level housing supply performance in the industry by promoting cost reform throughout all fields from new flat surface development, business method improvement, and design to construction for the revamp of the construction business.

Chairman Lee was especially active in investing in high value-added petrochemical technology development. After 10 years of R&D, Daelim succeeded in developing the highly reactive polybutene manufacturing technology, making Korea the third country to do so following Germany and the US in 2020. This technology was included in the 70 best scientific technologies selected by the government in 2015 during the 70th commemoration of independence from Japanese colonial rule. Based on high value-added petrochemical technology, Daelim achieved the top-level operating profit ratio in the industry. With its matchless technological prowess acknowledged, Daelim made huge achievements by exporting the petrochemical technology for the first time to the US, the home of the petrochemical industry, in 2015.  
 

Daelim is currently making various investments to take off as a global developer in the petrochemical and energy fields on the basis of the construction business. For its development business, the company successfully developed Gwanghwamun D Tower, and it is working on Acro Seoul Forest and Turkish Canakkale Bridge, the world’s longest suspension bridge. In the petrochemical business, Daelim is reviewing an investment in developing a large-scale petrochemical complex in the US as developer together with Thai’s PPT Global Chemical. On the other hand, Daelim is operating the energy development business in 7 countries such as Australia, Chile, and Jordan including the LNG combined cycle power plant in Pocheon. Daelim has secured 4GW power generation capacity ranging from coal-fired and LNG to wind, solar, and biomass power plants. Last year, Daelim announced overall management reform and executed governance improvement, solution to giving work to its affiliates, and win-win cooperation.