On the 20th, K Shipbuilding held an extraordinary shareholders meeting and board of directors, announcing that Kim Chan has been appointed as the new CEO.
Born in 1961, the new CEO Kim has served as the Deputy Minister of Daewoo Securities Coverage1 (2011), head of the STX business division (2014), and head of the management division at K Shipbuilding (2021). He was appointed as CEO of K Shipbuilding on Dec. 28, 2023, resigned on Mar. 28 of the following year, and has now returned to the position after seven months.
K Shipbuilding has been focusing on improving revenue since transforming from STX Shipbuilding & Marine Engineering. Currently, K Shipbuilding's shareholders include KHI (49.79%) and UAMCO's special purpose company K Sunshine Holdings (49.79%). It started as a common investment but the management rights were exercised by KHI and recently handed over to UAMCO. With the change in management rights, key executives were also replaced.
K Shipbuilding noted that this appointment is aimed at ensuring stable management and improving revenue in a situation where sufficient work is secured.