Chairperson Jeong Chang-seon, who laid the foundation of Jungheung Group, died of a chronic illness. He was 84.
Jeong died at about 11:40 p.m. on the 2nd at Hak-dong Hospital of Chonnam National University Hospital in Gwangju, with family at his bedside.
Born in Gwangju in 1942, the deceased is regarded as a self-made figure who grew a small, region-based construction firm into a mid-sized construction group that represents Korea today. Devoting a lifetime to a single path in construction, the business expanded its territory from dwellings construction to civil engineering, leisure, and media.
In life, the deceased stuck to a management policy that prioritized financial soundness and business stability over excessive external expansion. Even amid the many headwinds the construction industry faced, such as the foreign exchange crisis and the global financial crisis, the group is credited with solidifying its foundation for existence through step-by-step, substance-focused management.
In particular, even after the successful large-scale merger and acquisition (M&A) of Daewoo Engineering & Construction, the company pursued harmony with existing businesses and maintained stable management. While growing in size, it exercised hands-on leadership that maximized efficiency in management and operations.
His dedication to regional economic development also stood out. Since 2018, he served as a vice chair of the Korea Chamber of Commerce and Industry and, from 2018 to 2024, as chair of the Gwangju Chamber of Commerce and Industry, taking the lead in advocating for the rights and interests of local businesspeople.
For these contributions, he received the Order of Industrial Service Merit, Bronze Tower, on Housing Construction Day in 2005; a contribution award for construction industry development on the 70th Construction Day in 2017; and the Gwangju Citizens' Grand Prize.
Jeong was known for avoiding public exposure and practicing principle-based, field-centered management.
A Jungheung Group official said, "We will carry on the founder's noble will, fulfill stable management and our social responsibility, and move forward as a sustainable company."
He is survived by his wife, Ahn Yang-im; sons Jeong Won-ju, vice chair of Jungheung Group (chair of Daewoo Engineering & Construction), and Jeong Won-cheol, chair of City Construction; daughter Hyang-mi; and son-in-law Kim Bo-hyeon, president of Daewoo Engineering & Construction.
The wake is being held at VIP Jangrye Town in Maewol-dong, Seo-gu, Gwangju, and the funeral will be at 7 a.m. on the 5th. The deceased will be temporarily interred at Gaechunsa in Hwasun, South Jeolla Province, and the final burial site will be decided according to the wishes of the bereaved family.