KG Mobility appoints veterans in global sales, production as co-CEOs

The embattled automaker has named two co-CEOs to build stable management and sustainability.

Hwang Ki-young, the new co-CEO of KG Mobility [KG MOBILITY]

KG Mobility has named global sales and production veterans Hwang Ki-young and Park Jang-ho as the new co-CEOs of the automaker.

The appointment, coming as former CEO Jeong Yong-won resigned in the face of embezzlement allegations, was approved at a shareholder meeting on Monday.

The duo will head KG Mobility with current CEO Kwak Jea-sun, who also serves as the chairman.

Hwang, who joined KG Mobility in 2023, has spearheaded overseas sales, which resulted in a nine-year record-high in exports for the company. He previously worked at Hyundai Motor's European, British and Russian subsidiaries.

Park Jang-ho, the new co-CEO of KG Mobility [KG MOBILITY]

Park handled production as well as labor culture at KG Mobility.

As CEOs, Hwang will oversee the sales sector while Park manage production.

"With the heads of overseas sales and production newly appointed as the CEOs, KG Mobility will now be able to build responsible management," the company said in a statement. "We will grow sustainably by expanding new lineups, discovering new markets and strengthening various marketing strategies at home and abroad."

KG Mobility swung to an operating profit of 12.5 billion won ($9.1 million) last year for the first time in 16 years, posting a sales record since its establishment 70 years ago.

Previously known as SsangYong Motor, the company was acquired by a KG Mobility-led consortium in October 2022, helping the carmaker exit a court-led, 18-month debt restructure. The company was put under court receivership in April 2021 after its owner failed to find new investors due to the Covid-19 pandemic and financial difficulties.

BY SARAH CHEA [chea.sarah@joongang.co.kr]