South Korean construction giant HDC Group on Friday named Jung Kyung-koo, CEO of HDC, the group’s holding unit, as the new CEO of its flagship construction unit HDC Hyundai Development Company in its year-end leadership reshuffle.

Jung, 59, is a financial specialist who majored in law at Seoul National University and started his career at Shinhan Investment Securities.

At HDC, he has served in diverse leadership positions, including head of management planning and chief finance officer at the construction unit. Since 2022, he has led the holding unit to oversee new growth drivers and mergers and acquisitions.

In the meantime, Kim Hoi-yen, chief finance officer of HDC Hyundai Development Company, has been named the new CEO of HDC, the holding unit.

Kim, 58, who worked at Hyundai Motor before joining HDC, has served in leadership positions mostly at retail units, including HDC Shilla Duty Free and HDC I’Park Mall.

He is recognized for strengthening the company’s financial stability by effectively managing project financing liabilities and improving credit ratings.

“This reshuffle aims to ensure fundamental competitiveness by building on the financial stability and customer trust established in the construction sector,” said HDC Group. “We plan to secure future competitiveness through innovation in technology, organization and talent.”