Hot Issue1. Next Generation Nuclear Power Plant Business, Demonstrating Capabilities of K-Construction!
2022 was the year when our company declared a leap forward as a "Total Solution Provider for Nuclear Projects". 256 out of 946 employees who responded to the <Hot Issue 4> survey chose "Roadmap of next-generation nuclear power plant business and unveiling of the first SMR-160 commercialization model" as the top issues of the year. In particular, our company has established an unrivaled position in the large nuclear power plant sector by constructing 22 out of 32 large Korean-type nuclear power plants at home and abroad. Leveraging such track record, our company was able to achieve remarkable results in domestic and global nuclear power markets by continuing to take on new challenges in all areas of nuclear power, from small module reactors (SMRs), to decommissioning of nuclear power plants, and disposal of spent nuclear fuel. Hyundai E&C is expected to strengthen our status as a game changer in the global construction market by diversifying our nuclear power plant business and securing key source technologies.
Hot Issue2. Orders of the Year Raising Status of Global Construction Powerhouse!
This year, our company has won several big projects at home and abroad, solidifying its status as a global construction powerhouse. Our employees found the “Saudi Neom City Tunnel Project” (33%) to be the proudest project won by the company in 2022. The project is one of the $500 billion dollar "Neom City" projects promoted by Saudi Arabia. Hyundai E&C plans to carry out the underground tunnel construction of The Line for high-speed and cargo railway services.
Hyundai E&C’s relations with Saudi Arabia began in 1975 with the construction of Jubail Industrial Port. By working on numerous projects in Saudi Arabia for a long time and proving our technological prowess, Hyundai E&C was able to pave the way for expanding Saudi orders in July last year. We have successfully proven the potential of K-Construction by securing the exclusive status (Namaat program) of a new project ordered by Aramco, a Saudi state-run energy company. As a result of being recognized for our technology and construction capabilities in November last year, we were able to achieve the feat of winning the “Shaheen Project (29.4%)” ordered by S-Oil, whose largest shareholder is Aramco. The project aims to build a facility for producing petrochemical products worth KRW 7 trillion, and attracted more attention for being the largest one ever in history of the domestic petrochemical industry. It is expected that our company will continue to win orders to build a solid position in the sector, by working on various petrochemical plant projects in the Middle East, outdistancing leading global competitors.
Hot Issue3. Innovation in Technology, Leading Paradigm Shift in Construction Sector
We asked Hyundai E&C employees about our company's unique technology, which is leading the paradigm shift in construction technology in the global market. 181 respondents of the <Hot Issue 4> survey chose “SMR-160 detailed design and commercialization technology” as the best technology. Our company plans to venture into the U.S. nuclear power market with Holtec, specialized in small module reactors, as well as participate in detailed design necessary for SMR-160 installation in full consideration of the local natural surroundings and conditions, and place the completed standard model on the nuclear decommissioning site of "Oyster Creek” owned by Holtec for the first time. It will be exciting to see Hyundai E&C, with “Korea’s first” and the “industry’s first” titles in the nuclear power plant business, enter the global market.
The second technology selected is “CCUS (Carbon Capture, Utilization, Storage)” technology to realize carbon neutrality. The CCUS technology, selected by 171 employees, is the most powerful weapon in our war against carbon dioxide. Currently, our company is struggling to secure world-class “carbon capture” technology as a leader in national projects. Our company's CCUS expert announced the company’s ambition to increase our competitiveness in the global CCUS market by deriving a design plan for a carbon capture and liquefaction plant with 1 million ton annual capacity and owning the world's largest CCU FEED design capability.
If you have ever been stressed out because of noise coming from upstairs in your apartment, "inter-floor noise-reduction grade 1 technology" is definitely the best technology. Even in terms of mitigating heavyweight impact noise that has become a social issue, our company has obtained the highest-grade certification ever and commercialized the grade 1 technology for reducing noise between floors. Hyundai E&C continues to develop optimal solutions to improve the quality of life of all our customers. We hope that our excellence in technology and know-how, which will lead the paradigm of the construction sector, based on various technologies, will thrive further and make a bigger impact next year.
Hot Issue4. This Station is “Anguk Hyundai E&C Station”!
This year, Anguk Hyundai E&C Station topped the list among the transformations that took place workplace, according to our employees. 40.4% of the <Hot Issue 4> survey respondents said they feel a sense of pride when commuting to and from work as the existing Anguk Station was renamed to “Anguk Hyundai E&C Station." It will be an opportunity for employees as well tourists in the area to naturally learn more about our company, Hyundai E&C, which has settled down in Gye-dong, ever since the establishment of the Gye-dong main building in October 1983.
During this year’s hottest-ever summer, our CEO’s surprise gifts arrived at 80 domestic sites and headquarters. Employees who received coffee and sandwiches that arrived on time for work said in unison that they were moved by the boss’ sweet snack. This winter, fish cake trucks warming up our employees’ cold body and mind will visit 54 sites, and bakery snack cars that will fill the empty stomach of our employees will visit 62 sites. According to our employees, in addition to the snack truck event, which 21.2% of Hyundai E&C employees said they were moved by the CEO’s warm consideration, it was not easy to pick only one best event this year because there were so many memorable transformation at the workplace including the introduction of “H-pass” mobile employee ID (19.1%) and use of emojis and conversation storage, etc. Our company will continue to seek transformation, to embrace more voices of employees in the future. We cannot wait to see what other changes will take place next year to keep our employees excited and thrilled!