À̹ÌÁö È®´ë Doosan Heavy Industries & Construction chief executive Kim Myung-woo has expressed his resignation from his post, holding himself responsible for worsening profitability amid a slowdown in the global plant market and the nuclear phase-out policy by the liberal government.
¡°The challenges we¡¯re facing now are only transient, and the company can successfully address them as it did in the past,¡± said Kim in a note to employees on Monday. Doosan Heavy confirmed it would soon complete a necessary process regarding his resignation.
Kim, 59, was appointed as head of the company in March after his predecessor Jung Ji-taek, co-CEO, stepped down due to poor business results.
Doosan Heavy Industries & Construction reported a 33.8 percent on-year plunge in operating profit last year with sales losing 7.4 percent from a year ago. The bottom line further deteriorated in the first six-month period of this year with a 3.9 percent on-year fall, while sales were down 8.6 percent. Its short-term debt totaled 3.8 trillion won ($3.36 billion) as of the end of September.
By Kang Gye-man and Lee Ha-yeon
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