HS Hyosung appointed a professional manager, not from the Oner family, as group chair for the first time in Hyosung's 60-year history.
On the 1st, HS Hyosung officially announced the inauguration of Chair Kim Kyu-young. HS Hyosung said it will establish a more professional and rational decision-making system and a transparent and sound corporate governance structure by appointing a chair from among professional managers.
The company said the appointment reflects Vice Chair Cho Hyun-sang of HS Hyosung's longtime talent management philosophy of selecting people based on capability and performance. Earlier, Vice Chair Cho emphasized that a balance between ownership and management is necessary to enhance corporate value over the long term and to strengthen internal transparency and managerial accountability.
Chair Kim Kyu-young is a representative "Hyosung man" who has built a career at a single company for more than 50 years after joining Dongyang Nylon, the predecessor of Hyosung, in 1972. After majoring in textile engineering at Hanyang University, Kim began a career on production sites and served as plant head at key Hyosung business sites in Ulsan, Eonyang and Anyang.
At Hyosung, Kim served as chief technology officer (CTO) of the fiber PG and as head of the Hyosung Technology Research Center, overseeing the group's technology strategy. Kim then served as president overseeing China operations, gaining global business experience by directly leading overseas production and sales organizations.
Since 2017, Kim has served as CEO of Hyosung Corporation, overseeing overall group management for about eight years. After being promoted to vice chair in 2022, Kim has led the establishment of the group's mid- to long-term strategy and improvements to its management structure.
Vice Chair Cho will focus on management and on establishing the mid- to long-term strategy of HS Hyosung Advanced Materials together with CEOs Lim Jin-dal and Seong Nak-yang of HS Hyosung Advanced Materials. HS Hyosung then appointed Vice Chair Noh Gi-soo, formerly head of the LG Chem Technology Research Center, as CEO.
A company official said, "The appointment of the first non-Oner chair in Hyosung's 60-year history is a rare case even in the business community," adding, "By building a new governance structure based on checks and balances, we have opened a new horizon for Korean management practices."