Chairman Kim Seung-youn of Hanwha Group gave a nod to the Young Hanwha group in his commemorative speech celebrating the group’s 64th anniversary on Oct. 10.
The chairman said the group needs a young core of talented personnel to fight off the current business impasse, comparing the situation to bracing for “a cold winter” and getting ready for difficult times even when things are going well.
He reminded everyone that, according to data, the group has been doing fine so far this year on the surface. But when you look at the details, he said things aren’t as pretty.
“We should not stay relaxed just because everything looks rosy on the surface, but tighten the ropes and stay alert,” Kim warned.
“As the past 64 years has been a continuation of daring and reformative decisions, we shouldn’t lose sight of how we got where we are. Even when the going is good, the youth of Hanwha represents the future.”
On the occasion of the 64th anniversary, the group conducted a personnel shake up in which those in their 50s were promoted to the CEOs. President Kum Chun-ho, the head of the group’s planning and management, has been promoted to vice chairman, while Vice President Cho Hyun-il, in charge of the group’s management and legal team, was made president. Managing Director Lee Min-seo of Hanwha Chemical was also promoted to vice president in charge of the international trading sector.
Managing Director Lee Seon-seok, in charge of high-tech materials, was also made vice president; and Managing Director Lee Man-seob was made the representative director for the securities sector of Hanwha Tech One.
The group became the first of the large conglomerates in the country to conduct a personnel shakeup involving some of the key affiliates of the group.
A major theme of the personnel change has been the introduction of the “young blood” in the group’s key positions, meaning those in their early 50s, to take over a number of important affiliates as CEOs.
Vice Chairman Kum Chun-soo has been singled out as the leading executive of the group. He single-handedly managed the M&As between Samsung Group and Hanwha Group to strengthen the group’s growth engines centered around the chemical, defense and solar energy sectors to a global level. When Vice Chairman Kum took over the group’s planning and management office, the group ranked 10th-largest among large conglomerates, but now the group climbed past Hyundai Development and Hanjin Group to rank the 8th.
All of those who were promoted are in their 50s, except Vice Chairman Kum. Representative director Lee Seon-sok, in charge of high-tech materials, has a lot of experience working overseas, including in the U.S., China, Europe and Mexico, as he set up a number of local overseas subsidiaries for the group.
President Lee Man-seob, in charge of the Security Sector of Hanwha Tech One, has a vast understanding of overseas market exploration, especially in the U.S. market.
He was head of the Power Train Business Dep’t. at Hanwha Corp.
He is considered the most qualified among his colleagues when it comes to the exploration of overseas markets. Vice President and CEO Le Min-seok of Hanwha Corp.’s International Trading Sector is considered the most qualified to run the department as he is very detailed in planning and has a lot of global experience.
A view of the Hanwha Group building in downtown Seoul where most of the group’s affiliates have offices.(Photos: Hanwha Group)
_김승연 젊은 한화.jpg)
