Cho Hyun-jun, chairman of Hyosung Group, will serve as an inside director of its affiliate, Hyosung Heavy Industries.
The board of Hyosung Heavy Industries approved the agenda for the 7th regular shareholders' meeting, which includes the appointment of Chairman Cho as an inside director, on the 26th. The regular shareholders' meeting of Hyosung Heavy Industries is scheduled to be held on the 20th of next month.
The term for inside directors at Hyosung Heavy Industries is two years. The board explained that the reason for recommending Chairman Cho as an inside director candidate is that he has contributed to the growth of global business and the strengthening of responsible management by leading proactive investments and discovering new growth engines for the Hyosung Group, having served as the head of Hyosung's Fiber Division, Trading Division, Information and Communication Division, and Strategic Headquarters.
It also noted, "By fostering a management philosophy of communication that enables employees to empathize with the company's vision and voluntarily contribute to achieving goals, it is expected to enhance the efficiency of corporate operations and significantly contribute to the growth and development of the company through the realization of customer immersion management, going beyond VOC (voice of the customer)."
Hyosung Heavy Industries explained regarding the appointment of Chairman Cho as an inside director that it is a measure to strengthen responsible management by leading proactive investments based on strong leadership amid a deepening global complex crisis and expanding market penetration in the new energy sector based on its solid global network built over many years.
Chairman Cho is currently serving as the CEO of Hyosung, as well as an inside director of Hyosung TNC, an inside director of Hyosung Investment Development, and an inside director of FMK.
The shareholders' meeting will also address the reappointment of Takashi Yokota, vice president of Hyosung Heavy Industries, as an inside director, and the reappointment of Choi Yoon-soo, attorney at Yulchon law firm, as a outside director and audit committee member.