South Korean shipbuilding and energy conglomerate HD Hyundai promoted Chung Ki-sun, the president and CEO of HD Hyundai, to vice chairman on Friday, as part of a leadership reshuffle that also included promotions for several other executives.
Chung Ki-sun's tenure as president was marked by his role in steering the company through economic downturns over the last two years, especially in the shipbuilding sector. He was pivotal in developing ship sales and research initiatives, laying the groundwork for the company's future. In 2016, he launched the marine solutions business HD Hyundai Global Service, recognizing the burgeoning ship service market's potential.
Chung has spearheaded initiatives across key business areas, including refineries, construction machinery and power equipment, with a keen focus on hydrogen and AI technologies. His introduction of the "Hydrogen Dream 2030" vision in 2021 and partnerships with US small modular reactor company TerraPower and data analytics firm Palantir in 2022 have highlighted HD Hyundai's commitment to expanding into new technological fields.
Internationally, his contributions extend to establishing the International Maritime Industries shipyard, a joint venture with Saudi Arabia's Aramco, in 2015 and fostering cooperation with Saudi Crown Prince Muhammad bin Salman for future projects.
The reshuffle also includes promotions of other executives. HD Hyundai Infracore CEO Oh Seung-hyun has been promoted to president and CEO.
HD Hyundai Heavy Industries Vice President Kang Young has been promoted to the role of president. Kang will lead a task force for the acquisition of STX Heavy Industries.
Vice Presidents Kim Sung-joon, Kim Wan-soo and Ko Young-kyu of HD Korea Shipbuilding & Offshore Engineering, HD Hyundai Robotics and Hyundai Chemical, respectively, have each been promoted to the role of president and CEO.
HD Hyundai Heavy Industries President Roh Jin-yul will join Kang Young as co-CEO, focusing on safety management and shared growth.
