Hyosung's Cho Hyun-joon named CEO of the Year

Hyosung Group Chairman Cho Hyun-joon gives celebration remarks after he was named the CEO of the year Tuesday. [HYOSUNG]

Hyosung CEO and Chairman Cho Hyun-joon was named CEO of the year, the energy company said Wednesday.

Cho received the 38th CEO award, one of the top honors given to business leaders in Korea, for his contribution to the country’s economic growth and impact on the business ecosystem.

The annual award, by the Korean Academic Society of Business Administration, is for entrepreneurs who contribute to the country’s national growth with great entrepreneurship and management skills.

“Since his inauguration in 2017, Cho revamped the company’s business portfolio based on carbon neutrality,” the Korean Academic Society of Business Administration said.

“Cho also contributed big to practice a “customer first” business principle this year, stressing customer-based management throughout all business activities,” it added.

Cho, the grandson of the late Hyosung founder Cho Hong-jai, first joined Hyosung in 1997. He was appointed as the chairman in 2017.

Hyundai Motor’s late founder Chung Ju-yung was the first recipient of the annual reward, in 1987.

BY SARAH CHEA [chea.sarah@joongang.co.kr]