Hyundai Heavy Industries Appoints Lee Sang-gyun as President of Shipbuilding Division

Vice President Hasu Takes Responsibility for Safety Accident and Voluntarily Resigns
Hyundai Heavy Elevates Shipbuilding Business Head to President Level...Measures to Oversee Production and Safety Implemented

[Asia Economy Reporter Hwang Yoon-joo] Hyundai Heavy Industries has appointed Lee Sang-gyun, President of Hyundai Samho Heavy Industries, as the head of Hyundai Heavy Industries' shipbuilding business. Vice President Ha Soo resigned voluntarily, taking responsibility for the occurrence of safety accidents.

On the 25th, Hyundai Heavy Industries announced that in response to a series of serious accidents, it has strengthened safety measures by elevating the head of the shipbuilding business to president level to comprehensively oversee production and safety, and has made a sudden personnel appointment by naming Lee Sang-gyun, President of Hyundai Samho Heavy Industries, as the head of the shipbuilding business.

Hyundai Heavy Industries will also expand and reorganize the existing Production Headquarters into the Safety Production Headquarters to prioritize safety at production sites. This is to actively invest human and material resources in preventing safety accidents by re-examining safety facilities and safety education systems in the future.

Regarding this measure, Kwon Oh-gap, Chairman of Hyundai Heavy Industries Holdings, apologized, saying, "We sincerely apologize for causing concern to the local community and the public due to the series of serious accidents at Hyundai Heavy Industries."

Chairman Kwon emphasized, "Considering that safety accidents, which had hardly occurred for a while, suddenly increased this year, it is necessary to fundamentally re-examine whether the existing safety measures are losing their effectiveness. We must undertake a comprehensive re-examination of safety measures including safety facilities, education, and procedures."

He added, "Since safety is a precious value that cannot be exchanged for anything, we will spare no support so that all affiliates can carry out management that prioritizes safety as the top value in the future."

Meanwhile, with the transfer of President Lee Sang-gyun, Vice President Kim Hyung-kwan has been nominated as the new President of Hyundai Samho Heavy Industries and will officially take office after a temporary general shareholders' meeting and board of directors meeting.