Daedong Group's Powertrain (drivetrain) corporation, Daedong Gear, has recruited a global business expert from Hyundai Motor to lead its electrification business.
Daedong Gear held its 52nd annual general meeting of shareholders and appointed Jeo Jong-hwan as the new CEO on the 28th.
The new CEO, born in 1967, graduated from Chung-Ang University with a degree in business administration and joined Hyundai Motor in 1993, working primarily in overseas sales for 30 years until 2023.
He has held various positions, including overseeing the sales operations for the UK sales corporation, the Asia, Middle East, and Africa business division, and the US sales corporation, as well as serving as head of the global channel planning team in the overseas sales headquarters and director of global channel strategy in the global business management headquarters.
Daedong Gear is expanding its business portfolio from power transmission components for internal combustion engine-based automobiles, heavy equipment, and agricultural machinery to electric powertrains. Previously, it has signed contracts to supply hybrid vehicle parts and electric vehicle reduction gear modules to companies like Hyundai Motor and Hyundai Transys, achieving cumulative orders of 1.4234 trillion won last year alone. Daedong Gear intends to accelerate growth in the electric powertrain sector under the leadership of the new CEO.
The new CEO said, "While enhancing core capabilities in the powertrain sector and striving to provide trusted quality and value, I aim to expand our domestic and international presence by reaching more clients and broader business fields to promote the sustainable growth of the company."