HS HWASUNG has strengthened its financial soundness through a strategy that emphasizes revenue.
HS HWASUNG held its 67th regular shareholders' meeting on the 28th at 9:30 a.m. in the 7th-floor conference hall of its Daegu headquarters, where it announced that last year it recorded sales of 612.7 billion won, operating profit of 23.7 billion won, and net profit of 13.4 billion won.
HS HWASUNG decided on that day to pay cash dividends of 500 won per share. The total amount of dividends is approximately 4.7 billion won.
HS HWASUNG emphasized that it improved its financial soundness by reducing its liability ratio from 168% to 117%.
It noted that rather than focusing on simple physical growth, the strategy prioritizes revenue and financial stability, concentrating on reducing reliance on external funding and improving internal cash flow. Through this approach, it reduced total liabilities by 171.7 billion won last year and reinforced its financial soundness, according to an HS HWASUNG official.
During the shareholders' meeting, HS HWASUNG appointed Vice President Im Gi-young and Executive Director Kim Hyun-oh as internal directors, and Nam Taek-jin, head of the Department of Industrial Design at Korea Advanced Institute of Science and Technology (KAIST), as an outside director and auditor. Outside director Nam Taek-jin previously served as an assistant professor in the Department of Design at the University of Wales in the United Kingdom and is currently vice president of the World Design Organization.
In the board meeting held after the shareholders' meeting, Vice President Im Gi-young was appointed as the new CEO of HS HWASUNG. Im graduated from Korea University with a degree in civil engineering and has held various positions, including head of the civil planning team and head of the civil outsourcing team at Daewoo E&C, and head of the strategic planning office and management support office before serving as vice president of HS HWASUNG since April 2022.
Lee Jong-won, chairman of HS HWASUNG, noted, "Last year, there were many risks due to macroeconomic conditions and domestic and external environmental uncertainties, but as a result of focusing on proactive risk management and sound management, we achieved a significant financial restructuring that reduced the liability ratio to 117%." He added, "This year, we plan to actively participate in the national market, including the metropolitan area, overseas construction projects, and eco-friendly businesses to create new future growth engines."