(Lee Jong Soo, the President & CEO of Hyundai Engineering &Construction)
Recently Korea's Ministry of Land, Transport and Maritime Affairs said that domestic builders will be able to win overseas construction orders amounting to $45 billion until the end of this year, considering the record-high winning orders Korean firms gained during the first half of 2008.
According to Ministry, Korean companies confirmed overseas construction orders worth $25.9 billion during that time, showing up 61 percent increase year-on-year.
Hyundai, its Great Aspiration and Eco-friendly Business
Meanwhile it is no doubt that Hyundai Engineering & Construction has been a pioneer of Korea's builders, making a dream of Renaissance in history of global constructionan an actuality again, as well as showing 'eco-friendly business' by voluntary participation of 'C40' hosted by Seoul Metropolitan goverment, a global expo of the climate changes which will be held in Seoul next year's spring.
So we could have an interview with Lee Jong Soo, the President & CEO of Hyungdai Engineering & Construction to cover story about Hyundai's portfolio in this year.
Q1) As far as we know, Hyungdai's volume of overseas contract, up till now, is about USD5.5 billion. Can you tell us about it ?
A1) Actually nowadays has seen the majority of Korea-based construction companies are concentration on foreign market, perhaps because of depression of domestic market.
Against this backdrop, we have substantially raised this year's target volume for overseas contract by 67% up to USD6.5 billion, comparing with USD3.9 billion in 2007.
With this shift in focused aspiration toward overseas market, up until now, we have got contract's volume equivalent to more USD5.5 billion including 'the Azor New Refinery Plant Project in Kuwait'
Q2) When it comes to overseas market, Which area have you focused on ?
A2) It's Middle East area. For an instance, this region accounts for 88% of the whole contracts awarded this year, which derived from sufficient evidence that our brand 'Huyndai' has regarded as the best of the best in the Midle East.
Moreover we have developed the most stable overseas business portfolio in terms of construction type-industrial plant 55%, civil works 29%, electrical works 11%, and architectural works 5%.
Q3) Do you have any big project under way, related to joint work-based resource development ?
A3) Recently we concluded a agreement with Iraq's self-ruled Kurdistan regional government for a social infrastructure restoration project(worth USD10.7 billion) linked to the oil development in Northern Iraq.
I dare to say, if everything's going well, we can perform resource development projects more efficiently in the all oil-producing countries.
Like equilibrium in my mind from Taoism, Our Flexibility-based management
Q4) Could you tell us about your philosophy of management ?
A4) Firstly I'd like to emphasize about importance of a man of ability.
Because it's a key solution how we cultivate and manage them.
And according to Taoism from ancient China, there has been a wise saying "The best goodness is like pure water"(上善若水) which I believe as one of my principal creeds.
This ancient saying exactly teaches us how we live in our society and manage business.
As for corporate management, I try to be as flexible as I can like water running down.
Having this constant equilibrium in my mind, I used to get doing open-heartedly for staff members.
A6) I think business leaders should have intelligence for right decision, fresh ideas for prosperous business, and broad-mindness & driving force for all process of business.
In addition, I dare to say, a good CEO should be able to foresee the future's siuation. Because today's world has been changed very fastly, day by day.
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Photo : 추정남 기자
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