Chung Ho names first CEO under Carlyle ownership

Chung Ho Group named Choi Jin-hwan group CEO and president of Crystal Holdings Korea, its holding company, on Tuesday, following Carlyle’s acquisition of the home appliance group in August.

Choi will oversee Chung Ho Group’s strategy and growth while working with the heads of its operating units, including Chung Ho Nais, Microfilter, MCM and Nais Engineering.

The group also appointed Jeong Chang-kook as CEO of Chung Ho Nais, Microfilter and MCM, while Jung Se-hyung will lead Nais Engineering.

Choi will concurrently serve as a senior adviser to Carlyle’s Asia advisory team. He will help the global investment firm assess opportunities in Korea and across the Asia-Pacific region and advise its portfolio companies on value creation.

Choi has more than 30 years of leadership experience in consumer-facing businesses, having held senior roles at Lotte Rental, Hyundai Capital, Hyundai Life Insurance, SK Broadband and ADT Caps.

Most recently, he served as CEO and president of Lotte Rental, where he strengthened its core rental operations, expanded into new businesses and sought to transform the company into a data-driven mobility platform.

John Kim, chairman of Korea for Carlyle Asia Partners, and Icksoo Jung, managing director and head of Korea, said Choi’s experience leading large consumer-facing and rental businesses would support Chung Ho Group’s next stage of growth.

Choi said he plans to strengthen the Chung Ho brand, deepen customer relationships and pursue sustainable growth in close cooperation with Carlyle and the group’s management team.