'61-born Ox CEO... Leading Post-COVID Era in 4 Major Groups'

Samsung Electronics President Ko Dong-jin, SK Innovation President Kim Jun, and Other '1961-born CEOs' Lead Growth in Major 4 Conglomerates

[Asia Economy Reporters Kiho Sung, Soyeon Park] The year 2021, the Year of the White Ox, has dawned. In the business world, attention is focused on the diligent and steady progress of CEOs born in the Year of the Ox. Especially this year, '1961-born Ox' CEOs from the four major groups?Samsung, Hyundai Motor, SK, and LG?are prominently positioned as key leaders to drive the post-COVID-19 era.

According to the business community on the 4th, notable '1961-born Ox' CEOs expected to overcome management crises following the COVID-19 pandemic include Ko Dong-jin, President of Samsung Electronics; John Rim, President of Samsung Biologics; Cho Sung-hwan, President of Hyundai Mobis; Kim Jun, CEO of SK Innovation; Jung Ho-young, President of LG Display; and Jung Cheol-dong, President of LG Innotek.

Although Samsung Group still faces legal risks surrounding Vice Chairman Lee Jae-yong, it plans to explore various possibilities in its global business amid a gradual economic recovery forecast this year. Among them, Ko Dong-jin, who leads Samsung Electronics' IM (IT & Mobile) division, has the critical responsibility of actively responding to consumer demands and mobile market needs in the post-COVID-19 era, as well as securing new global 5G network contracts. In the mobile division, based on Samsung Electronics' accumulated capabilities, the strategy is to support 5G devices across all price ranges accessible to consumers, increasing smartphone sales and improving profitability. In the network business, as the COVID-19 situation gradually improves, the plan is to timely respond to domestic and international 5G commercialization projects and significantly expand the global business foundation. John Rim, who was appointed president last month at Samsung Biologics, is also a '1961-born Ox' CEO. Industry insiders expect him to leverage his expertise from global biopharmaceutical companies to elevate Samsung's bio-pharmaceutical business to world-class status and secure global clients for contract development and manufacturing of pharmaceuticals.

At Hyundai Motor Group, Cho Sung-hwan, the newly appointed president of Hyundai Mobis, is a representative '1961-born Ox' CEO. He is entrusted with the crucial task of supplying core components for Hyundai Motor Group's dedicated electric vehicle platform, E-GMP, and supporting Chairman Chung Eui-sun's vision for the 'future mobility era.' The PE (Power Electric) modules that Hyundai Mobis must produce this year?integrating motors, inverters, and reducers?are key components of electric vehicles and are considered critical to the competitiveness of the E-GMP platform. Particularly, Hyundai Mobis is expected to occupy the top of the group's governance structure, making market recognition of its growth potential an important challenge.

Kim Jun, President of SK Innovation and head of SK Group's energy division, is also a '1961-born Ox' CEO bearing heavy responsibilities this year. He must wisely resolve the prolonged battery lawsuit with LG Energy Solution. Additionally, as the leader of a core affiliate for ESG (Environmental, Social, and Governance) management?a solution Chairman Chey Tae-won has embraced for the post-COVID-19 era?Kim faces the tasks of expanding SK Innovation's global battery business, securing profitability, and successfully listing the materials subsidiary SK IET (SK Innovation Technology).

LG Group's Ox-born CEOs, including Jung Ho-young, President of LG Display, and Jung Cheol-dong, President of LG Innotek, are also expected to embark on management initiatives to firmly establish Chairman Koo Kwang-mo's leadership and secure future growth engines. In particular, in preparation for the upcoming electric vehicle era, these two affiliates will play crucial roles in LG Group's efforts to strengthen its automotive electronic components business, alongside LG Electronics. LG Display plans to enhance its role in supplying plastic OLED materials for electric vehicles, while LG Innotek is expected to generate synergies in automotive lighting modules and advanced driver assistance system cameras within the automotive electronics business.

This content was produced with the assistance of AI translation services.