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(LEAD) Chung Ki-sun named CEO of Hyundai Heavy Industries Holdings

All News 17:50 October 12, 2021

(ATTN: CORRECTS the feature of Hyundai Global Service and HHIH's stake holdings in the company in 6th para)
By Nam Kwang-sik

SEOUL, Oct. 12 (Yonhap) -- The first son of Chung Mong-joon, the largest shareholder of Hyundai Heavy Industries Holdings Co. (HHIH), has been appointed the new CEO of the holding company, Hyundai Heavy Industries Group said Tuesday.

Chung Mong-joon holds a 26.6 percent stake in HHIH, the holding company of the world's largest shipbuilding group, and his eldest son, Chung Ki-sun owns, a 5.26 percent stake in the company.

This photo, provided by Hyundai Heavy Industries Group on Oct. 12, 2021, shows Chung Ki-sun, the 39-year-old son of Chung Mong-joon, the largest shareholder of Hyundai Heavy Industries Holdings Co. (PHOTO NOT FOR SALE) (Yonhap)

The junior Chung, 39, has been also named the chief executive of Korea Shipbuilding & Offshore Engineering Co. (KSOE), the subholding company of the group, which operates the group's three shipbuilding affiliates, the conglomerate said.

The shipbuilding affiliates are Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co.

HHIH is the largest shareholder of KSOE with a 30.95 percent stake.

The junior Chung has served as the chief executive of Hyundai Global Service, a company specializing in engineering based on total service. HHIH holds a 62 percent stake in Hyundai Global Service.

He will operate HHIH along with the company's current chief executive, Kwon Oh-gap, without replacement, the group said.

ksnam@yna.co.kr
(END)

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