Hanwha Group announced on the 31st the appointments of five CEOs from four affiliates: Hanwha Global, Hanwha Engine, Hanwha Power Systems, and Hanwha Hotels & Resorts (resort division/estate division).
Ryu Doo-hyung, the head of the management planning office at Hanwha Ocean, has been appointed as the new CEO of Hanwha Global. The appointed CEO previously served as CEO of Hanwha Energy, Hanwha Advanced Materials, and Hanwha Momentum, among other positions. He has been in charge of Hanwha Ocean's management planning office since last year.
Kim Jong-seo, who has been appointed as the new CEO of Hanwha Engine, previously held positions as CEO of Hanwha Total and head of the merchant ship division at Hanwha Ocean. Since 2023, he has led the merchant ship division at Hanwha Ocean, earning recognition for driving performance improvement through a revenue-oriented selective order strategy and increasing the sales proportion of LNG vessels.
Rafi Balta, the chief operating officer of Hanwha Power Systems, has been appointed as the new CEO of Hanwha Power Systems. Balta is an expert with over 35 years of experience in the global engine and gas turbine industries. He joined Hanwha Power Systems last year after working with GE and the aerospace manufacturer Precision Castparts.
Hanwha Hotels & Resorts will transition to a dual representative system to enhance expertise in its business sectors. Choi Seok-jin has been appointed as the CEO of the resort division, while Kim Kyeong-soo has been appointed as the CEO of the estate division. Choi previously served as the head of the leisure support group and the director of future strategy at Hanwha Hotels & Resorts. Kim has held positions as the head of the development division and membership division at Hanwha Hotels & Resorts, and as the representative of Aqua Planet, and is currently the head of the estate division.
A representative of Hanwha Group noted, "The key feature of this personnel change is the appointment of verified management to proactively respond to the uncertain domestic and foreign management environment and to strengthen long-term competitiveness," adding, "In particular, the focus is on enhancing global competitiveness to seize future markets."
The newly appointed CEOs are expected to be finalized through shareholder meetings and board meetings according to the schedules of each company.