Hong Ui-rak has been appointed as the new president of Korea Gas Corporation (KOGAS).
KOGAS announced on July 7 that it will hold an extraordinary shareholders' meeting on the 23rd to vote on the appointment of Hong as president.
If the shareholders approve the appointment, the final decision will be made by the president following a recommendation from the Minister of Trade, Industry and Energy. The new president will serve a three-year term.
Born in 1955, Hong previously served as a member of the National Assembly during the 19th and 20th terms and held the position of Deputy Mayor for Economic Affairs in Daegu.
KOGAS had initiated the process to appoint a new president at the end of last year, but the Ministry of Trade, Industry and Energy deemed all five final candidates unqualified, leading to the cancellation of the appointment. Following a re-application process, Hong was confirmed as the final candidate.
KOGAS is a state-owned enterprise responsible for the import and supply of natural gas in South Korea, playing a crucial role in energy security and stable gas supply. The new president is expected to address challenges such as ensuring stable natural gas supply amid global energy price fluctuations, improving financial structure, and managing overseas resource development projects.
Currently, KOGAS is still operating under the leadership of former president Choi Yeon-hye, whose term officially ended in December of last year.
* This article has been translated by AI.
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