Contribution to society

Turining Crisis to Opportunity, Challenge to Results 2010-06-22

GS E&C is a company that turned crisis into opportunity.

The reason that GS E&C has been able to grow during these difficult times is substantial management and aggressive sales efforts.

The management structure has been transformed into an owner management structure with the naming of Myung-Soo Huh as CEO resulting in "External Growth through Substantial Management."

Cash flow managment structure has been established and risk management strengthened resulting in higher financial security.
Innovative activities are on going to increase cost competitiveness creating the base for better management of its finances.

Until the markets have stabilized GS E&C is flexibly meeting liquidity challenges and continually executing updating its plans.
Corporate organization has been slimmed while site centric manpower deployment has been implemented to increase efficiency. Through belt tightening, fat has been trimmed by reducing executive bonuses and pay.

Corporate brand value has been increased by increased orders and investments in future growth industries such as civil engineering, environment and overseas gas power plants.

GS E&C has been awarded the US$ 3.1 billion UAE Abu Dhabi refinery project, the largest for in the construction industry in November of 2009. GS E&C's overseas orders now total US$ 5 billion.
 

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