Major construction firms have replaced their chief executives with financial experts in recent weeks to brace for a prolonged industry downturn, according to industry officials, Sunday.
Hyosung Group Honorary Chairman Cho Seok-rae s death at the age of 89 on Friday has been mourned by the heads of Korea s largest conglomerates and influential politicians of both ruling and opposition parties, as the deceased entrepreneur contributed to the Korean chemical industry s growth and economic ties with foreign countries, industry officials said Sunday.