Former SOCAR CEO Lee Jae-woong will return to the front line of management after six years. As the largest shareholder, Lee will return as chair of SOCAR's board after the regular shareholders meeting in March next year and also take on a role leading efforts to strengthen competitiveness in the core car-sharing business and drive organizational innovation.
According to SOCAR on the 31st, CEO Park Jae-uk told employees about Lee's return at a town hall meeting held at the Seongdong-gu headquarters on the 29th. Lee will return as board chair, setting the broad direction for overall management while taking charge of strengthening the car-sharing service and organizational innovation. The specific title to be assigned is under internal discussion. In addition, Park plans to move to a "one-team" system by dividing roles, with Park focusing on new businesses such as Autonomous Driving.
Lee stepped down as SOCAR CEO in March 2020 after the National Assembly passed an amendment to the Passenger Transport Service Act, commonly called the "Tada ban law." In the subsequent Tada-related trial, the Supreme Court in June 2023 finalized acquittals for Lee and former VCNC CEO Park Jae-uk, the operator of Tada.
A SOCAR official said, "CEO Park Jae-uk will design SOCAR's future growth engines, and former CEO Lee Jae-woong will firmly lay the foundation for SOCAR's core business of car sharing, moving toward a 'one-team' system."