Hyundai Asan appoints former vice minister as CEO

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Hyundai Asan appoints former vice minister as CEO

Hyundai Asan, an inter-Korean business arm under Hyundai Group, named Bae Kook-hwan, former second vice minister at the Ministry of Economy and Finance, as its new CEO on Monday.

The company said Bae has expertise dealing with inter-Korean business projects. He served as a member of a government committee for inter-Korean business when he was director at the Finance Ministry.

“We believe Bae will play an important role in making new inter-Korean business opportunities,” the company said in statement.

Hyundai Asan will formally appoint Bae as CEO after a shareholders meeting and board meeting next month.

On Monday, the company also hired back its former executive Kim Young-hyun. Kim was a founding member of Hyundai Asan in 1999 and was in charge of tour programs to Mount Kumgang and businesses at Kaesong Industrial Complex. He left the company in 2015.

By Kim Jee-hee
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