This photo provided by Daewoo Engineering & Construction Co. on Dec. 18, 2024, shows company CEO Kim Bo-hyun at his inauguration ceremony in Seoul the previous day. (Image courtesy of Yonhap)
SEOUL, Dec. 18 (Korea Bizwire) — Daewoo Engineering & Construction Co. aims to achieve 1 trillion won (US$695.7 million) in annual net profit by 2027, focusing on key overseas markets while exploring new business opportunities, the company said Wednesday.
The ambitious goal was announced by the company’s new CEO Kim Bo-hyun at his inauguration ceremony held Tuesday at the company headquarters in Seoul, according to the company.
Kim also pledged to reduce the company’s debt-to-equity ratio to 120 percent by 2027.
In 2023, the company’s net profit totaled 521.5 billion won, while its debt-to-equity ratio stood at 176.8 percent.
Under its new goals, the company will focus on its three key overseas markets — North America, Africa and Southeast Asia — while also exploring opportunities in emerging markets, including Turkmenistan and the Czech Republic.
The new CEO also outlined plans to utilize advanced smart construction technologies to boost efficiency in design, construction and maintenance. Additionally, Daewoo aims to diversify its portfolio by expanding into new business areas for long-term growth.
(Yonhap)
