Johan Min Cho, President of Hanjin... To Become Inside Director

Cho Hyun-min, the third-generation owner of Hanjin Group, will be appointed as an inside director of the logistics company Hanjin.

On the 9th, Hanjin announced through a disclosure made the previous day that it will propose an agenda to newly appoint Cho Hyun-min, President and CEO in charge of Future Growth Strategy and Marketing, as an inside director at the regular shareholders' meeting on the 23rd. Hanjin finalized the agenda to appoint President No Sam-seok and Cho as inside directors.

Regarding the background of the appointment, Hanjin explained, "President Cho, together with President No Sam-seok, focused on domestic and international logistics infrastructure and automation investments, expansion of overseas bases, revenue source expansion, and cost improvement, leading to record-high performance last year despite the difficult economic environment."

President Cho stepped down from the frontline of management in 2018 following the so-called 'water cup gapjil' controversy. Afterwards, in September 2020, he was appointed as the executive in charge of marketing at Hanjin. In January 2021, he was promoted to vice president and became president early last year, just one year later. President Cho also concurrently serves as vice president of Jeongseok Enterprise but remains an unregistered executive.

Earlier, there were observations that Cho’s entry into the board of directors became more likely as he purchased company shares several times this year.

Industry insiders also predict that after the shareholders' meeting, Cho may serve as co-CEO alongside President No Sam-seok. Until early last year, Hanjin had a co-CEO system with President No Sam-seok and President Ryu Kyung-pyo. However, after President Ryu moved to become CEO of Hanjin KAL, the current system is a sole CEO led by President No.

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