Hanjin Group Announces 2022 Executive Personnel Changes... President Cho Hyun-min Promoted

Hyunmin Cho, President of Hanjin Co., Ltd.

[Asia Economy Reporter Dongwoo Lee] Cho Hyun-min, Vice President of Hanjin Co., Ltd. and younger brother of Cho Won-tae, Chairman of Hanjin Group, has been promoted to President.

Hanjin Group announced on the 12th that it has carried out the 2022 regular executive personnel appointments, including the promotion of Vice President Cho to President.

Hanjin Group promoted Ryu Kyung-pyo, Vice President of Hanjin Co., Ltd., who has been recognized for broad achievements such as strengthening competitiveness and financial soundness of the group's core logistics business and improving corporate governance, to President and appointed him as President of the holding company Hanjin KAL.

Lee Seung-beom, Vice President of Korean Air, was promoted and appointed as President of Korea Airport Service, Park Byung-ryul, Executive Director of Korean Air, was promoted to Managing Director of Jin Air, and Kwon Oh-jun, Executive Director of Korean Air, was promoted to Managing Director of Jungseok Enterprise.

Following these promotions, Hanjin Group has designated Ryu Kyung-pyo as President of Hanjin KAL, Lee Seung-beom as President of Korea Airport Service, Park Byung-ryul as Managing Director of Jin Air, and Kwon Oh-jun as Managing Director of Jungseok Enterprise as the new CEOs of each company. Ahn Gyo-uk, Executive Director of Hanjin Travel, was also designated as a new CEO.

Hanjin Group plans to formally appoint them as CEOs through the prescribed procedures of each company, including board of directors' and shareholders' meetings.

Hanjin Group promoted Vice Presidents Cho Hyun-min and Noh Sam-seok of Hanjin Co., Ltd. to Presidents respectively. Accordingly, Hanjin Co., Ltd. will shift from a dual CEO system with Presidents Noh Sam-seok and Ryu Kyung-pyo to a sole CEO system under President Noh Sam-seok.

Ryoo Kyung-pyo, President of Hanjin Kal

President Cho Hyun-min was highly evaluated for discovering future growth engines for Hanjin Co., Ltd. and establishing a sustainable growth foundation. In particular, he integrated new trends such as the Internet of Things (IoT) and Artificial Intelligence (AI) into the logistics business and established the industry's first "logitainment" combining logistics and culture. He also built an eco-friendly logistics foundation and achieved shared value creation (CSV) by realizing social value creation based on it.

President Noh Sam-seok was recognized for contributing to securing a second growth momentum by achieving the company's best performance since its founding, acquiring the new Busan New Port container terminal, and establishing a pharmaceutical logistics service foundation. Executive Directors Yoo Jong-seok of Korea Airport Service and Choi Jung-ho of Jin Air were promoted to Vice Presidents of Korean Air respectively.

A Hanjin Group official explained, "This executive personnel appointment focuses on concentrating the company's capabilities to overcome the prolonged deterioration of the business environment caused by COVID-19."

In the case of Korean Air, appointments will be made later depending on the progress of the corporate merger review with Asiana Airlines.

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