Veteran insider to lead Korean builder into next growth phase Lee Kang-seok, senior vice president and head of external cooperation at Daewoo Engineering & Construction (The Korea Herald) Daewoo Engineering & Construction said Thursday that CEO Kim Bo-hyun has decided to step down voluntarily ahead of the expiration of his term, with the company nominating Lee Kang-seok, current head of external cooperation and senior vice president, as its next CEO in a leadership transition aimed at accelerating future growth.The Korean builder said it accepted Kim's resignation and plans to recommend Lee as its next leader. The nomination will be finalized through a board meeting.According to the company, Kim, who led Jungheung Group's acquisition of Daewoo E&C in 2021 before taking the helm of the latter, decided to leave after concluding that the company had completed its turnaround and was ready for a new phase of growth under a younger leadership team.Daewoo E&C credited Kim with steering the company through challenging business environments by emphasizing proactive risk management and profitability-focused operations, adding that his decisions laid the foundation for improved earnings as its profitability exceeded market expectations in both the first and second quarters of this year.To minimize management disruption, the company said it would accelerate the appointment process compared with previous years and quickly carry out organizational restructuring and executive appointments following the selection of the new CEO.Lee, a 30-year Daewoo E&C veteran who joined the company in 1996, has built his career across sales and external affairs. The company said he has strengthened the builder's competitiveness in winning new projects while acquiring extensive experience working with government agencies, clients and business partners."The appointment reflects an intention to pursue a generational shift toward a younger and more dynamic leadership team capable of responding flexibly to rapidly changing market conditions," a Daewoo E&C official said."Lee is regarded as the right person to inject new energy into the organization with his fresh perspective and strong execution capabilities."