'CEO-Centered Growth Management' Jung Mong-won's Bold Move as Chairman of Hanla

Jung Mong-won, Chairman of Halla Group

[Asia Economy Reporter Changhwan Lee] Chung Mong-won, Chairman of Halla Group, declared a "CEO-centered growth management" through a year-end organizational restructuring. The core of the plan is to subdivide the organization and strengthen expertise to respond more agilely to market changes in key businesses such as automobiles and construction.

According to Halla Group on the 1st, Chairman Chung plans to divide several affiliates into three sectors: holding company, automobile, and construction, appointing CEOs of the three divisions as sector heads, and will pursue growth management centered on these leaders.

The automobile sector, the main focus, will be led by Cho Sung-hyun, President of Mando. President Cho is an expert who has been with Mando for over 30 years, having worked in various departments from research and development (R&D) to marketing, sales, and planning, and will oversee manufacturing fields including Mando, HL Clemoove, and Mando Brose.

Additionally, Hong Seok-hwa, General Manager of Halla Holdings, will oversee both the holding and business divisions. Lee Seok-min, President of Halla, will be in charge of construction.

Accordingly, Chairman Chung, who had served as CEO of Mando until now, plans to focus on pioneering new businesses and talent development as the Group Chairman and Chief Human Resources Officer (CHRO).

He also plans to reorganize the manufacturing and construction business portfolios and accelerate inorganic growth such as startup investments, as well as differentiated areas from existing sectors. Inorganic growth is a management strategy that achieves growth through mergers and acquisitions (M&A) or equity investments in other companies.

Chairman Chung said, "True growth begins with curiosity in various fields and the courage to act on it," adding, "The freedom and responsibility of leaders and youthful passion will create a ‘boldly transforming Halla.’"

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