Kim Jo-won vows reform as head of Korea Aerospace

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Kim Jo-won vows reform as head of Korea Aerospace

Published: 26 Oct. 2017, 20:22

Kim Jo-won

Kim Jo-won took office as president and chief executive of Korea Aerospace Industries, a state-owned aerospace and defense company, on Thursday.

Kim previously served as secretary general of Korea’s Board of Audit and Inspection. He succeeds Ha Sung-yong, who was indicted earlier this month for corruption including accounting fraud.

In his inaugural speech at the company’s headquarters in Sacheon, South Gyeongsang, Kim vowed to enhance transparency at the company and restore public trust. His first order of business is establishing a task force on corporate reform early next month.

Kim also shared his ambitious goal of making 20 trillion won ($18 billion) in revenue by 2030.

Kim, who spent roughly 20 years at the Board of Audit and Inspection, was nominated as the sole candidate for CEO during a board of directors meeting on Oct. 10.