President Jeong Gi-seon Promoted to Vice Chairman... HD Hyundai Executive Team Personnel Changes

Jung Ki-sun, Vice Chairman of HD Hyundai. Photo by HD Hyundai

HD Hyundai announced its group president-level personnel appointments on the 10th.

In this personnel announcement, HD Hyundai President Chung Ki-sun was promoted to Vice Chairman. Oh Seung-hyun, Vice President and CEO of HD Hyundai Infracore, and Kang Young, Vice President of HD Hyundai Heavy Industries, were each promoted to President. President Kang Young is scheduled to lead the task force (TF) for the acquisition of STX Heavy Industries, which is currently undergoing a corporate merger process.

Additionally, Kim Sung-jun, Vice President of HD Korea Shipbuilding & Offshore Engineering, Kim Wan-su, Vice President of HD Hyundai Robotics, and Ko Young-gyu, Vice President of HD Hyundai Chemical, were each appointed as new CEOs. Noh Jin-yul, President of HD Hyundai Heavy Industries, was appointed as co-CEO, responsible for safety management and mutual growth. These appointees are expected to be officially appointed as CEOs after board and general shareholder meetings.

Vice Chairman Chung Ki-sun led efforts to improve the company’s structure and overcome crises amid a global shipbuilding industry downturn that posed company-wide challenges. While working in ship sales and the Future Technology Research Institute, he devoted himself to securing orders essential for the company’s survival and preparing for the future through technology development. In 2016, he played a leading role in launching HD Hyundai Global Service, recognizing the growth potential of the ship service market.

Since then, Vice Chairman Chung Ki-sun has spearheaded securing competitiveness and innovation in key group businesses such as refining, construction machinery, and power equipment, while also focusing on discovering future growth engines like hydrogen and AI. In 2021, through the group’s hydrogen business vision ‘Hydrogen Dream 2030,’ he unveiled the ‘hydrogen value chain’ concept that consolidates the capabilities of all HD Hyundai affiliates from hydrogen production to transportation, storage, and utilization. In 2022, he also focused on expanding new business areas, including an investment agreement with U.S. small modular reactor (SMR) company TerraPower and signing an MOU with Palantir, the world’s leading big data company.

Vice Chairman Chung Ki-sun has expanded his managerial activities by overseeing major overseas businesses. After leading the strategic cooperation project with Saudi state-owned company Aramco in 2015 and spearheading the establishment of the joint shipyard IMI, he signed an MOU with Aramco on hydrogen and ammonia in 2021. In November last year, he personally met with Crown Prince Mohammed bin Salman of Saudi Arabia to discuss bilateral cooperation measures.

HD Hyundai Group has carried out a new appointment of its executive presidents. From the left in the photo: Oh Seung-hyun, CEO of HD Hyundai Infracore; Kang Young, President of HD Hyundai Heavy Industries; Noh Jin-yul, CEO of HD Hyundai Heavy Industries; Kim Sung-joon, CEO of HD Hyundai Korea Shipbuilding & Offshore Engineering; Kim Wan-soo, CEO of HD Hyundai Robotics; Ko Young-gyu, CEO of HD Hyundai Chemical. Photo by HD Hyundai

Furthermore, at CES 2023 earlier this year, he presented ‘Ocean Transformation’ as the group’s future strategy, based on a fundamental change in perspectives and utilization of the sea. Vice Chairman Chung Ki-sun is scheduled to deliver a keynote speech at CES 2024, which will be held early next year.

Vice Chairman Chung Ki-sun is also committed to building a new organizational culture. At the 50th anniversary vision declaration ceremony last December, he stated, “To realize a new vision, a new corporate culture is necessary, and I will actively strive to make this a company where people truly want to work and where employees can freely pursue their dreams.”

Since then, HD Hyundai has been fostering a corporate culture where employees can enjoy their work through various initiatives such as supporting kindergarten tuition for employees’ children, opening workplace daycare centers, introducing flexible work systems, providing employee family cards, offering free wedding halls and photo booths within the company, and hosting cultural events with direct employee participation.

An HD Hyundai official stated, "Vice Chairman Chung Ki-sun will play a crucial role in pioneering the group’s future businesses and innovating organizational culture for the next 50 years, as well as ensuring the sustainable growth of existing businesses amid rapidly changing global economic trends."

Meanwhile, Oh Seung-hyun, who was promoted to President in this personnel announcement, contributed to organizational stabilization and synergy creation as co-CEO of HD Hyundai Infracore, and is expected to contribute to technological advancement and company growth based on his expertise.

Also, President Kang Young, an expert in cost accounting within the group, is scheduled to lead the task force for the acquisition of STX Heavy Industries, which is currently undergoing a corporate merger process.