Daelim Industrial Group announced on Jan. 14 that Vice Chairman Lee Hae-wook has been inaugurated as chairman. Lee is the eldest son of honorary chairman Lee Joon-yong and grandson of founder Lee Jae-joon. Lee joined Daelim in 1995 and was promoted to vice chairman in 2010.
"I will continue to develop the Daelim Group that the honorary chairman and my seniors have established until it achieves absolute competitive power," Chairman Lee told executives and employees in his simple inauguration message.
Daelim said Chairman Lee led the efforts to overcome the IMF and the global financial crisis through change and innovation. At the time of the IMF, the company underwent intensive restructuring to improve its petrochemical business and secure competitiveness while making strategic partnerships with major petrochemical companies.
During the global financial crisis in 2008, the company achieved the highest level of housing supply by developing new planes and improving business methods, and innovating production costs from design to construction.
In particular, Chairman Lee actively invested in the development of high value-added petrochemical technologies. After 10 years of R&D, Daelim succeeded in developing the world's third High Reactive Polybutene (HRPB) manufacturing technology after Germany and the U.S. in 2010.
In 2015, it succeeded in exporting its petrochemical manufacturing technology to the U.S. for the first time in Korea. Recently, it is making various investments in order to become a global developer in the petrochemicals and energy fields based on the construction business.
The energy developer project is being carried out in seven countries, including the LNG combined thermal power plant in Pocheon in Korea, Australia, Chile and Jordan. It has secured 4GW power generation capacity, including coal, LNG, wind, solar power, and biomass power plants.