HD Hyundai Heavy Industries Group carried out a reshuffle of the group’s CEOs, including HD Hyundai President Chung Ki-sun, who was promoted to vice chairman.
Senior Executive Vice President Oh Seung-hyun of HD Hyundai Infracore and Senior Executive Vice President Kang Young of HD Hyundai Heavy Industries each were promoted to president.
President Kang is to head a taskforce to acquire STK Heavy Industries.
Senior Executive Vice President Kim Sung-joon of HD Korea Shipbuilding & Offshore Engineering, Senior Executive Vice President Kim Wan-soo of HD Hyundai Robotics, and Senior Executive Vice President Koh Young-kyu of HD Hyundai Chemical were tapped as president.
President No Jin-yul of HD Hyundai Heavy Industries was named as co-president & CEO. He will be responsible for safety management and shared growth. The president-nominees are to be approved by each board of directors and shareholders’ meeting.
(from left) President Oh Seung-hyun of HD Hyundai Infracore, President Kang Young of HD Hyundai Heavy Industries, President No Jin-yul of HD Hyundai Heavy Industries, President Koh Young-kyu of HD Hyundai Robotics, and President Kim Sung-joon of HD Korea Shipbuilding & Offshore Engineering.
Vice Chairman Chung Ki-sun has been credited with reinventing the corporate mold and overcoming a crisis amid companywide corporate hardships, caused by the sluggish global shipbuilding industry.
He is praised for devoting himself to making preparations for the future by securing winning orders and developing technologies, while holding positions related to ship sales and the Future Technology Institute.
In 2016, Chung spearheaded the launch of HD Hyundai Global Service with a potential growth of the ship service market.
Vice Chairman Chung has also been lauded for securing the competitiveness of the group’s major businesses, such as refinery, construction machinery and electric machines on top of the shipbuilding business.
At the same time, he has prioritized exploring future growth engines, such as hydrogen and AI.
In 2021, he revealed a “hydrogen value chain” plan, combining the capabilities of HD Hyundai’s subsidiaries in areas ranging from hydrogen production to transportation and storage and utilization in accordance with the group’s hydrogen vision “Hydrogen Dream 2030.”
In 2022, he devoted himself to expanding new business areas, such as signing of an agreement to invest into the U.S. SMR company TerraPower and completing an MOU with U.S.-based big data company Palantir.
Vice Chairman Chung has been expanding his management scope, as he oversaw major overseas business projects.
In 2015, Chung led the establishment of International Maritime Industries (IMI), a joint-venture shipyard, by forging a strategic partnership with Saudi Arabia’s state-run company Aramco.
In 2021, HD Hyundai struck an MOU on hydrogen and ammonia with Aramco, and in November 2022, and Vice Chairman Chung met with Saudi Crown Prince Mohammed bin Salman and discussed ways of promoting bilateral cooperation.
While speaking at CES 2023 in early this year, Vice Chairman Chung suggested as his group’s future strategy “Ocean Transformation,” based on fundamental changes in a perspective of the sea and a method of utilization.
Chung is to deliver his keynote speech at CES 2024, slated for early next year.
Vice Chairman Chung has been redoubling efforts to build a new corporate culture. In a ceremony to declare a vision on the occasion of the 50th anniversary in December 2022, he said, “A new corporate culture is needed to realize a new vision, and HD HHI Group will redouble efforts to make a company in which staff members want to work and they can unfurl their dreams to the fullest.”
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