Hyundai Engineering & Construction expressed its ambition to strengthen its competitiveness in the energy value chain field this year.
Lee Han-woo, CEO of Hyundai Engineering & Construction, said in his greeting at the annual general meeting of shareholders held at the headquarters in Jongno-gu, Seoul, on the 26th, "We will build differentiated competitiveness by strengthening global competitiveness across the energy value chain, improving our structure centered on proven core businesses, and enhancing organizational capabilities, and on that basis continue sustainable growth."
Lee emphasized that the company will continue to expand its competitiveness centered on decarbonized energy production plants such as large nuclear power plants, Small Modular Reactor (SMR), offshore wind and solar, and hydrogen and ammonia, while enhancing capabilities across the entire energy value chain, from building power grids such as high-voltage direct current (HVDC) to artificial intelligence (AI) data centers, the final energy consumption sites.
He went on to say, "We will shift our portfolio from the existing Middle East and Southeast Asian markets to advanced markets such as the United States, Europe, and Australia to raise both the stability and profitability of project execution," adding, "In addition, we will focus on technology that provides optimal solutions for product groups expected to grow in the future and on stable order intake based on trust."
Hyundai Engineering & Construction presented order bookings of 33.4 trillion won and sales of 27.4 trillion won as its management targets for this year. Shareholder dividends were expanded to 90 billion won, with 800 won for common shares and 850 won for preferred shares.
At the shareholders meeting that day, proposals including approval of the financial statements, partial amendments to the articles of incorporation such as the deletion of the clause excluding cumulative voting in accordance with the revised Commercial Act, and the appointment of directors were approved. Shin Jae-jeom, head of safety and quality at Hyundai Engineering & Construction, was appointed as an internal director, and Chung Eun-hye, a professor at the Department of Energy Systems Engineering at Seoul National University, and Jang Hwa-jin, head of Asia-Pacific at Cohere, were appointed as outside directors.