Chairman Kwon Oh-kap of Hyundai Heavy Industries Business Group said the company established a management plan that calls for 46.66 trillion won in groupwide sales in 2022. In his New Year’s message on Jan. 3,
Chairman Kwon said, “Even though management conditions are not easy, the goal will be attainable enough since each business is overcoming difficult times and building foothold to raise competitiveness.”
He said HHI Group should be transformed into a high-tech shipbuilding and energy group to prepare for an era of digital transformation.
“Only technology and innovation can open up our future, and our group’s all organizations, systems and methods need to be changed to support competitiveness in an era of the 4th Industrial Revolution,” he said.
Chairman Kwon stressed actualization of autonomous management and responsible management. As the conditions facing each company are different, and means of ramping up competitiveness is unique, each company’s competitiveness should be based on its own determination and efforts, not the group, he said.
In particular, Chairman Kwon called for HHI Group to raise its standing as a company by contributing to the state and society.
He said HHI will complete its acquisition of Daewoo Shipbuilding & Marine Engineering (DSME).
“With Korea Shipbuilding & Offshore Engineering (KSOE) taking the lead, Hyundai Heavy Industries (HHI), DSME, Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries will retain Korea’s status as the world’s No. 1 shipbuilding industry powerhouse with their own competitive edge,” he said.
CEO Chung Ki-sun of Hyundai Heavy Industries Holdings, shakes hands with Shyam Sankar, COO of Palantir after signing an MOU to establish a big data platform along with Alexander C. Karp, CEO of Palantir (seen in the video) in Las Vegas on Jan. 4.
Senior Exe. Vice President Chung’s Promotion to Accelerate ‘Transfer Management’
In the latest reshuffle, Hyundai Heavy Industries Business Group promoted Senior Executive Vice President Chung Ki-sun, the eldest son of Chairman Chung Mong-joon.
He was promoted from the board of Asan Social Welfare Foundation to president to stand at the forefront of management.
The junior Chung was named president of Hyundai Heavy Holdings, the holding company of HHI Group, and president of Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding holding company.
Business sources said promoting the junior Chung to president of KSOE may be construed as a bid to transfer management to the third-generation heir-apparent in earnest.
KOSE established itself as a control tower to secure next-generation proprietary technologies, such as eco-friendly and smart ships as its subsidiary HHI was listed on a bourse recently.
The junior Chung is predicted to accelerate efforts to secure an upper hand over a hegemony over the future shipbuilding sector.
The junior Chung, which entered HHI in 2009, was responsible for spearheading the group’s new businesses. As he took office as co-CEO of Hyundai Global Service, the company had grown annual sales to over 1 trillion won by expanding its business portfolio to ship conversion into eco-friendly ones and ship digitalization business, on top of the conventional ship after-sale service business.
The junior Chung, senior executive vice president of Hyundai Heavy Industries Holdings, spearheaded the hydrogen project it is implementing with Aramco of Saudi Arabia.
He has been charged with exploring new businesses as he inaugurated “AI One Team,” an AI industry cooperation initiative, in cooperation with LG Electronics and KT.
The junior Chung has headed the Future Committee, an in-house committee, and he has been ramping up communications with staffers in their 20s and 30s.
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