2 emerge for Hynix CEO job

The short list for the next chief executive officer at Hynix Semiconductor has probably been narrowed down to two candidates, industry watchers have speculated.
Current Hynix creditors are expected to choose either Chin Dae-je, the former information minister, or Kim Jong-kab, vice minister at the Industry Ministry.
At a meeting last Thursday, most of the creditors, including Woori Bank, Korea Development Bank and Shinhan Bank, nominated Mr. Chin or Mr. Kim.
Mr. Chin helped contribute to Samsung Electronics’ semiconductor “miracle.”
He is considered to be an expert in the industry with a strong engineering background.
He also has experience as a government official, as a former information minister. The problem is that his experience at Samsung Electronics also acts as an obstacle ― Samsung is one of the biggest competitors of Hynix.
Mr. Kim has some advantages since a number of government banks, including Korea Development Bank, are in the creditor group, Yonhap reported. Mr. Kim has worked for the Ministry of Commerce, Industry and Energy.
But if Mr. Kim gets the job, it might look like government pressure affected the decision, said an executive from one of the creditor companies who declined to be identified.
“Mr. Chin seems to have the higher possibility as of now. But what they say during their interview later this month (Feb. 26) will also be important,” said the executive.
The Hynix labor union, however, doesn’t want an outsider as their leader. Instead, it supports Choi Jin-seog, senior vice president and head of manufacturing, and Oh Choon-sik, executive vice president and chief operating officer.
Mr. Choi, originally from Samsung Electronics, contributed to saving Hynix from its financial difficulties by improving productivity.
The union is watching the selection process closely.
“Hynix had been behind competitors for the past 20 years,” said a union representative.
“We don’t want those who made the wrong decisions as our CEO.”
The selection of the new chief executive will be made at the general shareholders’ meeting in late March.

By Hwang Young-jin Staff Writer [yhwang@joongang.co.kr]