Hyundai Engineering has strongly refuted reports that it is "considering withdrawing from its core civil engineering business," stating that "this is completely untrue."
On the 27th, Money Today reported that Hyundai Motor Group is reviewing an overall organizational restructuring and business realignment for its construction subsidiaries. As part of this, the possibility of Hyundai Engineering withdrawing from its institutional sector related to civil and infrastructure projects is also being considered, reportedly due to a series of incidents that occurred at construction sites where Hyundai Engineering is currently engaged.
Last month, a total of 10 casualties occurred due to a series of accidents at construction sites including the Seoul-Sejong expressway project in Gyeonggi Province where Hyundai Engineering was working.
Hyundai Engineering's parent company, Hyundai E&C, issued a public statement on that day regarding "clarifications on rumors or reports," noting that "our subsidiary, Hyundai Engineering, is currently not considering withdrawing from domestic civil engineering projects."
Hyundai Engineering is also vehemently denying the rumors about withdrawal. A representative of Hyundai Engineering stated, "The content of the related report is groundless," adding, "After verifying with our internal sources and Hyundai Motor Group, there is no fact that we have considered withdrawing from civil and infrastructure projects."