Jusung Engineering adopts 3-CEO system in succession push

Jusung Engineering, a first-generation chipmaking equipment company in Korea, is transitioning from a single-CEO to a three-CEO structure, signaling a strategic push for leadership succession.

The company announced Monday that its board has approved a plan to divide the CEO role, previously held solely by founder Hwang Chul-joo, into three distinct areas: research and development, sales, and strategy.

Under the new leadership structure, Chairman Hwang will oversee all R&D activities, with a focus on developing "world-first, only-one" technologies to drive innovation. As chairman, he will continue to set the company’s vision and future direction while leading key decision-making bodies.

Vice Chairman and Co-CEO Lee Woo-kyung will take charge of global sales and operations, with the aim of building global trust in Jusung's technologies.

Hwang’s son, President and Co-CEO Hwang Eun-seok, will be responsible for management operations and strategic planning. His priorities include establishing a predictable, sustainable and collaborative management system to enhance the well-being of shareholders, employees, and other stakeholders.

A semiconductor specialist, Eun-seok holds a doctorate in materials science from Seoul National University and previously worked at Samsung Semiconductors for five years before joining Jusung.

“The board discussed and clarified the roles and responsibilities of each CEO and approved the structural change,” the company said in a statement. “We will pursue more professionalized operations and greater efficiency across all divisions.”

On the same day, Jusung announced its quarterly earnings. For the January-March period, the company posted an operating profit of 33.9 billion won ($23.6 million), marking a 384.3 percent increase year-on-year, while sales rose 113.4 percent to 120.8 billion won. The operating profit margin stood at 28.1 percent.

“Our performance improved in line with the overall growth of the semiconductor market,” the company said. “Jusung Engineering will continue to pursue ‘world-first and only’ technologies to strengthen our presence across Asia, the Americas, and Europe.”

The company also emphasized its ongoing shareholder return initiatives. In July, Jusung canceled treasury shares worth approximately 37.1 billion won, followed by an additional 50 billion won in treasury share acquisitions in October. It also paid out a cash dividend totaling about 13.1 billion won, or 287 won per share. Altogether, Jusung’s total shareholder return reached roughly 100.2 billion won for the year.