Global Sae-A Group appoints founder’s second daughter as CEO

[Courtesy of Global Sae-A Group]

South Korea’s textile and apparel manufacturer Global Sae-A Group has initiated its second-generation leadership transition by appointing Vice President Kim Jin-ah as the new CEO.

Sim Chul-sik, vice president of Ssangyong Engineering & Construction Co., has also been promoted to president, establishing a co-CEO system for the group.

This leadership change aims to strengthen internal stability and enhance global competitiveness to prevent the group’s overall crisis due to the poor performance of its subsidiaries.

Global Sae-A announced on Monday that Kim and Sim were promoted to CEOs. Former CEO Kim Ki-myung has resigned and will focus on his role as vice chairman of Global Sae-A Group.

Kim, the second daughter of founder Kim Woong-ki, joined Sae-A Trading in 2009. Since the establishment of the holding company Global Sae-A in 2015, she has served as head of strategic planning and group vice president.

In her new role, Kim will oversee overall business activities, including management strategy, planning, human resources, and finance.

Sim, who has held key positions at major subsidiaries such as Sae-A Trading, Tailim Packaging, and Ssangyong E&C, will focus on the group’s financial and investment sectors.

As part of this leadership transition, Kim Se-ra, the group founder’s third daughter, currently executive director of strategic planning at Sae-A Trading, has been promoted to vice president of sales.

Additionally, Lee Bok-jin, CEO of Tailim Packaging and Tailim Paper, has been appointed as the CEO of Jeonju Paper, reinforcing the co-CEO system.

Global Sae-A Group’s recent executive changes aim to consolidate the group’s internal structure following years of extensive mergers and acquisitions (M&A).

Since 2007, the group has aggressively pursued M&As, growing into a major corporation with assets worth about 6 trillion won ($4.37 billion).

However, recent financial struggles of its subsidiaries have prompted the need for internal stabilization.