To prevent the recurrence of construction accidents such as highway collapses, Hyundai Engineering is temporarily suspending new orders for dwellings and infrastructure projects. The company plans to implement various measures to restore corporate trust, including changing its name, which it has used for 43 years.
According to Hyundai Engineering on the 30th, Chairman Ju Woo-jung held a town hall meeting for all employees at the Jongno-gu office that day, announcing this plan.
Chairman Ju announced that to prevent the recurrence of construction accidents like the collapse of the Seoul Sejong Highway, the company will temporarily suspend new orders for dwellings and infrastructure projects. This measure will be in place until the safety systems are inspected and improved.
In February, a bridge girder collapse occurred at construction section 9 of the Seoul Sejong Highway project led by Hyundai Engineering, resulting in 10 casualties. In March, a similar incident happened at an apartment construction site in the Hwanyang city development area in Pyeongtaek, Gyeonggi Province, where two workers fell.
In response to the series of construction accidents, Hyundai Engineering has halted operations at more than 80 construction sites nationwide since March 10 and is preparing safety measures at each site.
On that day, Chairman Ju also announced plans to change the company's name and corporate identity. Hyundai Engineering has used its current name since 1982.
This decision by Hyundai Engineering appears to be aimed at improving the company's fundamental competitiveness by preventing the recurrence of construction accidents. Chairman Ju previously noted at a National Assembly meeting of the Land, Infrastructure and Transport Committee last month, "We are internally contemplating to ensure that there are no safety accidents and will do our best to create fundamental changes."