À̹ÌÁö È®´ë Chung Ki-sun
Hyundai Heavy Industries (HHI) Group has become latest of the Chung founding family of Hyundai empire to move to third-generation leadership.
Hyundai Heavy Industries Group announced on Tuesday that Chung Ki-sun, the only son of Chung Mong-joon, fourth son of Hyundai Group founder Chung Ju-young would double as the chief executive of HHI Holdings and Korea Shipbuilding & Offshore Engineering Co. (KSOE), the interim shipbuilding holding company of the group.
He has served as the chief executive and vice president of the holding company¡¯s wholly owned ship repairing and maintenance business Hyundai Global Service.
Chung, 39, studied economics at Yonsei University and earned a master¡¯s degree at Stanford University. He holds a 5.26 percent stake in the holding company. His father Chung Mong-joon holds the largest 26.6 percent stake.
In the earlier-than-usual annual reshuffle, the group changed faces in the vice-president level or higher at each unit under the holding company.
Lee Sang-kyun, chair of Hyundai Samho Heavy Industries, will be named as the co-chair of HHI and Joo Young-min, vice chair of Hyundai Oilbank as the co-chair of the refinery unit.
À̹ÌÁö È®´ë [Photo by Hyundai Heavy Industries]
Hyundai Doosan Infracore, which has joined the HHI group last month, will run under the co-management of Hyundai Genuine chair Cho Young-chul and Oh Seung-hyun, former vice chair of Doosan Infracore.
Machinery manufacturing unit Hyundai Construction Equipment will be spearheaded by Choi Chun-gon.
The reshuffle was carried out a month earlier than usual to speed up the post-merger integration process of the new equipment-making subsidiary Hyundai Doosan Infracore Co. and prepare for the management rights transfer to younger Chung, according to an industry source.
¡°Through the management reshuffle, the group aims to establish a responsible management system for its three core business sectors—shipbuilding, energy and construction and machinery—and further shore up its corporate value through synergy among subsidiaries,¡± an official from the HHI Group said.
The appointments will be finalized at a shareholders meeting.
Hyundai Motor Group also last year went under third-generation leader Chung Euisun.
By Han Woo-ram and Lee Soo-min
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]