Chairman Kim Dongnyung Returns to Management... Hansae Co., Ltd. Shifts to Three-Person Co-CEO System
Transition to a Three-Person Co-CEO System
Hansae Co., Ltd., a fashion original equipment manufacturer (OEM), will transition to a three-person co-CEO system.
According to the Financial Supervisory Service's electronic disclosure system on November 7, Hansae Co., Ltd. announced on November 6 that Kim Dongnyung, Chairman of Hansae YES24 Group, has been newly appointed as CEO. As a result, the company will shift from the previous two-person co-CEO system with Kim Ikhwan and Kim Kyung to a three-person system with Kim Ikhwan, Kim Kyung, and Kim Dongnyung.
Chairman Kim Dongnyung is the founder of Hansae YES24 Group and the father of Kim Ikhwan, Vice Chairman of Hansae Co., Ltd. Going forward, Chairman Kim will oversee global strategy.
Vice Chairman Kim Ikhwan will be responsible for future business, management support, and business diversification. President Kim Kyung will oversee sales and production.
Chairman Kim's return is seen as an effort to recover from Hansae Co., Ltd.'s recent poor performance. In the first half of this year (January to June), the company's consolidated sales reached 942.3 billion won, and operating profit was 32.6 billion won. While sales increased compared to the previous year (859.7 billion won), operating profit plummeted by about 60%. The decline in operating profit is believed to be due to clients' demands to share the burden of U.S.-imposed tariffs.
On October 29, at the '2025 Global Investor Relations (IR)' event held in Ho Chi Minh City, Vietnam, Vice Chairman Kim Ikhwan stated, "We will escape the threat of tariffs through vertical integration in Central America." The plan is to establish a system in the Michatoya region of Guatemala that covers all processes from yarn and fabric production to garment manufacturing. Since Guatemala's reciprocal tariff rate is in the 10% range, which is lower than Vietnam's 20%, the company expects to benefit from tariff advantages.
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A representative from Hansae Co., Ltd. explained, "The intention is to leverage the global expertise Chairman Kim has accumulated since the company's founding," adding, "This is part of a division of labor to improve operational efficiency."
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