Workers work at an apartment construction site in Incheon in this January file photo. Newsis

SK ecoplant recently nominated SK E&S Chief Financial Officer Kim Hyung-keun as the new CEO to improve its financial soundness and pursue an initial public offering (IPO). The decision came as a surprise because SK Group has tended to replace the top executives of its affiliates during annual year-end reshuffles.“The nomination is intended to overcome internal and external uncertainties and to push ahead with a successful IPO,” an SK ecoplant official said.Earlier this year, POSCO E&C, Shinsegae E&C and Eland Construction also replaced their CEOs with financial experts.DL E&C, which hired former LG Electronics executive Seo Young-jae as the new CEO last month, streamlined its organizational structure following the resignations of former CEO Ma Chang-min and other senior executives.The company is said to be interviewing poorly performing employees to carry out a restructuring.Daewoo E&C decided to allow over 1,000 employees at its head office to take a paid leave of absence for up to two months on the condition of receiving only half of their base wages during the period.

In 2018, the construction firm gave a year of paid vacations to its plant construction division employees amid worsening profits from the business at that time.However, the company denied speculation that its recent decision was intended to save costs, noting the recent trend of companies allowing their employees to go on long paid vacations for rejuvenation purposes.POSCO E&C and Hanwha Corporation E&C Division reduced payments to their executives.GS E&C decided not to pay performance-based bonuses to its employees this year, as it suffered the first yearly operating loss in 10 years in 2023 despite the record revenue.The loss is attributed mainly to the cost of rebuilding an Incheon apartment complex, whose parking garage collapsed in April last year.“Unfortunately, we failed to achieve our profit goal despite the record sales last year due to the tough market conditions and unexpected problems,” GS E&C CEO Huh Yoon-hong said in an email to employees last month.HDC Hyundai Development Company also refused to pay performance-based bonuses to its employees, as its profits dipped after a collapse at its apartment construction site in Gwangju in 2022, which killed six workers.In response, the construction firm’s unionized workers held a rally in front of the Seoul City Hall on Tuesday to protest management’s 스포츠토토존 decision.

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