Hanwha Business Group carried out this year’s annual management reshuffle on April 30, a little more than one month later than last year due to the management vacuum.

In the latest personnel change, the business group promoted 139 senior management officials, a 36 percent surge over the 102 promotions made last year. 

Hanwha Investment & Securities Chairman Kim Yun-bae presided over a meeting of an “emergency management committee” to cope with the long absence of its chairman Kim Seung-youn, who is serving prison term, and carried out the latest reshuffle.

Hanwha L&C Executive Vice President Kim Chang-bum was promoted to president & CEO. Kim became president only two years after being promoted to vice president in 2011. Making a step forward from its roots in the manufacture of building materials, such as floorings, window fittings, and finishing materials, Hanwha L&C is a recognized leader in Korea’s residential culture. But Hanwha L&C is not resting on its accomplishments. Hanwha L&C is actively embracing new growth engines for both the company and Korea’s development, as the company expands into the supply of lightweight parts and electronic and photovoltaic materials. Based on its global network, outstanding human resources, and innovative technology, Hanwha L&C is leading the globalization trend for the entire Hanwha Group. 

Park Jae-hong, executive vice president & CEO of Hanwha Corp. Trade Division, Lee Yul-guk, executive vice president of Hanwha 63 City, and Bong Hee-ryong, executive vice president of Hanwha City Development, each were promoted to senior executive vice president. Park, who served as the head of Hanwha Corp. Japan, has been at the helm of the trade division of Hanwha Corp. since 2011. Lee, who had a stint at Hanwha Life, has been promoted to senior executive vice president two years after he took the helm at Hanwha 63 City. Bong, who worked as the head of Hanwha E&C housing division, was transferred to Hanwha City Development in 2011. 

Hanwha TechM CEO Kim Youn-chul, Hanwha Energy CEO Kwon Hyeuk-woong, and Hanwha Q CELLS CEO Kim Hee-chul were each elevated from managing director to executive vice president. 

The business group also promoted Chung Yoon-hwan, head of Dream Pharma’s sales division, to managing director & CEO. 

A group official said the latest reshuffle has given more senior management officials promotions to CEO in a bid to explore next-generation new growth engines and new global markets and ramp up responsibility management. It also better reflected business expertise and performances. 

Lee Sun-suk, managing director in charge of the global automotive materials business at Hanwha L&C, and Ko Kang, managing director in charge of Iraqi city development at Hanwha E&C, each were promoted to executive vice president. 

EMERGENCY MANAGEMENT COMMITTEE IN OPERATION TO FILL MANAGEMENT VACUUM - The emergency committee, which acts as a top decision-making body in the group, is expected to soon announce this year’s group investments and employment plans, the group official said. 

The committee, which is chaired by Hanwha Investment & Securities Vice-chairman Kim Yun-bae, include three top management officials from the group’s affiliates: Hanwha Chemical Vice-chairman Hong Ki-joon, in charge of the group’s manufacturing sector, and Hanwha Hotel & Resort President Hong Won-gi, in charge of the group’s service sector,; and Hanwha Group Management and Planning Chief Choi Kum-am, in charge of the overall work of the committee. Vice Chairman Kim is concurrently charged with the group’s finance sector. Kim, who entered the group in 1968, had been with the general affairs department, bond department and other departments of Hanwha Securities as well as the group’s restructuring chief.