HD Hyundai promotes CEO Chung to vice chairman role

HD Hyundai, Korea’s largest shipbuilder, elevated its president and CEO Chung Ki-sun to vice chairman on Friday as a part of a year-end reshuffle.

Chung Ki-sun

HD Hyundai, Korea’s largest shipbuilder, elevated its president and CEO Chung Ki-sun to vice chairman on Friday as a part of a year-end reshuffle.

Born in 1982, Chung is the grandson of the shipbuilder’s founder Chung Ju-young.

Vice Chairman Chung is credited with shifting the company’s focus toward more future-oriented sectors such as a next-generation nuclear power generator, offshore wind power and autonomous shipping.

HD Hyundai ventured into the offshore wind farm market last year, when Hyundai Electric, an electric power affiliate of HD Hyundai, signed a strategic partnership agreement with GE Renewable Energy, a provider of wind farm solutions.

In 2022, HD Hyundai’s shipbuilding affiliate Korea Shipbuilding & Offshore Engineering (KSOE) signed a $30 million investment deal with U.S. TerraPower, setting foot in the small modular reactors (SMR) business.

As Chung set his sights on the integration of advanced technology into the oceans industry, he is set to deliver a keynote speech for the upcoming CES 2024.

Other affiliates also carried out promotions.

Oh Seung-hyun, formerly CEO and vice president of HD Hyundai Infracore, was named president of the company while Noh Jin-yul became president and CEO of HD Hyundai Heavy Industries.

Kang Young, formerly vice president of HD Hyundai Heavy Industries, was granted the president title of the shipbuilding unit.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]