Chung Ki-sun takes over as chairman of HD Hyundai amid renewed importance of shipbuilding sector

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Chung Ki-sun takes over as chairman of HD Hyundai amid renewed importance of shipbuilding sector

Published: 17 Oct. 2025, 16:46 Updated: 19 Oct. 2025, 17:20

LIM JEONG-WON
[email protected]

Audio report: written by reporters, read by AI

HD Hyundai Executive Vice Chairman Chung Ki-sun delivers opening remarks at the Korea-U.S. Shipbuilding Cooperation Expert Forum held at the HD Hyundai Global R&D Center in Seongnam, Gyeonggi on June 24. [YONHAP]

HD Hyundai named Executive Vice Chairman Chung Ki-sun as chairman on Friday in a leadership succession centered on the third generation scion of the shipbuilding group's founding family.

The reshuffle comes as HD Hyundai faces a critical period for its shipbuilding and heavy-industry businesses. Chung is expected to spearhead shipbuilding cooperation with U.S. partners as the industry emerges as a key sector in the ongoing trade negotiation.

For future industries, HD Hyuddai will focus on digital innovation and environmental technologies, the company said.

The company said this year’s executive appointments were made earlier than usual to minimize disruption ahead of the two planned mergers of HD Hyundai Heavy Industries with HD Hyundai Mipo and HD Hyundai Construction Equipment with HD Hyundai Infracore.

Former HD Hyundai Chairman Kwon Oh-gap was named honorary chairman and will step down from the board after the March 2026 shareholder meeting. HD Hyundai Site Solutions CEO Cho Young-cheul was promoted to vice chairman and will serve as co-CEO alongside Chung.

At HD Hyundai Heavy Industries, Keum Seok-ho, formerly executive vice president, was promoted to president and appointed co-CEO with newly elevated Vice Chairman Lee Sang-kyun. Meanwhile, Kim Hyung-kwan, president of HD Hyundai Mipo, will move to HD Korea Shipbuilding & Offshore Engineering (KSOE) as co-CEO with Chung, while Kim Sung-joon becomes president and CEO of HD Hyundai Marine Solution.

HD Hyundai announced a management reshuffle on Oct. 17. From left, Vice Chairman Chung Ki-sun, Vice Chairman Cho Young-cheul and Vice Chairman Lee Sang-kyun [HD HYUNDAI]

In the machinery sector, Moon Jae-young was named president of HD Construction Equipment, and Song Hee-joon was appointed CEO of HD Hyundai Site Solutions. Kim Wan-soo of HD Hyundai Robotics was also promoted to president.

The appointments will be finalized following board approval and shareholder meetings.

A graduate of Yonsei University and Stanford University’s MBA program, third-generation heir Chung joined Hyundai Heavy Industries in 2009 and has held senior roles across finance, ship sales and corporate strategy.

As head of HD Hyundai Marine Solution, he built the business into a key growth engine valued at over 11 trillion won ($7.75 billion), and in 2021 led the acquisition of Doosan Infracore to strengthen the group’s construction-machinery division, according to HD Hyundai.

A view of the HD Hyundai Heavy Industries shipyard in Ulsan [HD HYUNDAI]

Chung has recently focused on AI-driven digitization, environmentally friendly marine technology, and strengthening partnerships with U.S. industry leaders.

An HD Hyundai spokesperson said the reshuffle “reflects the group’s determination to open a new era under fresh leadership capable of responding to rapidly changing global conditions.”

The company pledged to balance the experience of existing executives with innovation, pursuing new growth engines while solidifying its position as a leading global heavy-industry group.

BY LIM JEONG-WON [[email protected]]