SEOUL, October 17 (AJP) - South Korean conglomerate HD Hyundai on Friday appointed Chung Ki-sun, the third-generation heir of the conglomerate’s founding family, as chairman, formalizing his rise to the top of the nation's largest shipbuilding group.
The move marks a generational transition and a shift toward owner-led management as the company prepares for a major corporate merger.
Chung, 42, was promoted from senior vice chairman, a role he assumed last year. His elevation was announced as part of the group’s 2025 executive reshuffle, which aims to streamline decision-making ahead of the planned integration of four key subsidiaries — HD Hyundai Heavy Industries, HD Hyundai Mipo Dockyard, HD Hyundai Construction Equipment, and HD Hyundai Infracore.
The promotion comes as former Chairman Kwon Oh-gap steps down from management to become honorary chairman. Kwon will remain CEO until the shareholders’ meeting in March 2026, when Chung is expected to assume full control of day-to-day operations.
A graduate of Yonsei University with an M.B.A. from Stanford University, Chung has held several leadership roles within the group, including head of HD Hyundai’s management support division and chief executive of HD Hyundai Marine Solutions.
In the latest reshuffle, Lee Sang-kyun and Cho Young-chul were promoted to vice chairmen, with Cho slated to serve as co-chief executive alongside Chung.
Kim Seong-jun was appointed CEO of HD Hyundai Marine Solutions, while Moon Jae-young will head the soon-to-be merged HD Construction Equipment business beginning Jan. 1. Kim Wan-soo of HD Hyundai Robotics was promoted to president.
The appointments, which will be finalized at upcoming board and shareholder meetings, are part of what the company described as a strategic effort to position HD Hyundai as a “comprehensive heavy industry group” equipped to compete in a volatile global market.
“This leadership change reflects our commitment to pioneering a new era amid a challenging global business environment,” an HD Hyundai spokesperson said. “We aim to become the world’s leading heavy industry group through innovation and collaboration between new and seasoned executives.”
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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