[서울신문] Will Ki-sun Jeong become president this year?

[재계 블로그] Recently,’Aramco’ and hydrogen alliance have been formed.
Adjunct appointment of’Future Chairperson’ to discover growth engines
Greater possibility of promotion after takeover such as Daewoo Shipbuilding

The third generation of Hyundai family owner Ki-seon Jeong (39), vice president of Hyundai Heavy Industries, is attracting attention as a wide move to expand the scope of the group.

According to business circles on the 14th, vice president Chung recently led cooperation between Hyundai Heavy Industries Group and Saudi Arabia’s state-owned oil company Aramco. It has successfully completed eco-friendly energy projects such as hydrogen and ammonia. It has built a cooperative relationship with Aramco while accelerating the transformation of constitution in all areas of the group’s core business such as oil refinery (Hyundai Oilbank) and shipbuilding (Korea Offshore & Shipbuilding). It is said that the global network of Vice President Chung, who maintained a strong friendship with the Saudi royal family, had a profound influence on the success of the project.

Vice President Jeong, who holds the title of head of the management support department of the holding company, is also expanding the business stride by serving as the chairman of the’Future Committee’, which was launched last year to discover new growth engines for the group such as robots and artificial intelligence (AI). Earlier, from 2018, he was also the CEO of Hyundai Global Services (a ship-related service company such as maintenance and repair).

At the beginning of the group’s regular greeting in November last year, there were many observations that Jung was promoted to president. Regarding the fact that the company was not promoted at the time, the business community interpreted it as “because last year the business was bad and business performance was not good, and the business that was opened such as various mergers and acquisitions (M&A) was not organized.” However, since the end of last year, the shipbuilding industry has been improving and the acquisition of Daewoo Shipbuilding & Marine Engineering and Doosan Infracore is likely to be completed within this year.

Jung Mong-joon, the actual owner of the group (70), is the eldest son of the two sons and two daughters of the chairman of the Asan Foundation. After graduating from the Department of Economics at Yonsei University, he worked for Hyundai Heavy Industries for a while, then rejoined Hyundai Heavy Industries in 2013 through the Dong-A Ilbo and Boston Consulting Group. After serving as Managing Director in 2015 and Managing Director in 2016, he became Vice President in 2017. The other brothers are not participating in the group management, and the group is operated under the system of President Oh-gap Kwon (70), a professional manager who is close to Chairman Chung.

Reporter Oh Kyung-jin [email protected]