“We are going to focus on our social responsibilities and to do that, the lives of our workers come first,” Baek said at a groundbreaking ceremony. The automaker recently appointed a safety officer to ensure its safety guidelines comply with a revised industrial safety law that was prompted by recent workplace fatalities.

The law, which holds senior executives more accountable for safety lapses occurring at workplaces like construction sites, has been amended to better protect contract workers hired by conglomerates to cut costs, but who benefit fewer job protections and less training than full-time workers.

Baek said he will also find new opportunities to expand the automaker’s reach as the company becomes more aware of environmental, social and governance impact and develops low-carbon strategies. Efforts will be made to double strategic investments to achieve this, he added.

Meanwhile, Jungheung Group Chairman Jung Chang-sun, who attended the ceremony, said he would help improve the financial health of the company and the employees themselves, promising to reduce the level of Daewoo’s indebtedness and increase benefits.

Jungheung Group owns Herald Corp., which publishes The Korea Herald.

By Choi Si-young ([email protected])