HMM Appoints Former Hyundai Wia President Kim Kyung-bae as New CEO

Kim Kyung-bae Appointed as New President of HMM

[Asia Economy Reporter Kim Heung-soon] Kim Kyung-bae, former president of Hyundai Glovis and Hyundai Wia, has been appointed as the new CEO of HMM, the largest container shipping company in South Korea.

According to the business community on the 11th, the HMM creditors, including the Korea Development Bank, held a management recommendation committee meeting on the 9th and appointed former president Kim as the successor to the current CEO Bae Jae-hoon. Bae's term ends on the 26th of next month. Kim is expected to officially take office after the shareholders' meeting scheduled for next month.

Kim graduated from Yonsei University with a degree in Business Administration in 1990 and joined Hyundai Precision (now Hyundai Mobis), where he assisted the late Honorary Chairman Chung Ju-yung of Hyundai Group for 10 years. He later served as head of planning at Hyundai Mobis, secretary general and head of global strategy at Hyundai Motor Group, and president of Hyundai Glovis and Hyundai Wia.

Meanwhile, Bae, who previously served as vice president of overseas marketing at LG Semiconductors and CEO of Bumhan Pantos, was appointed CEO of HMM in March 2019 for a two-year term. Recognized for achieving record-breaking performance, his term was extended by one year in March last year.

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