Former SOCAR CEO Lee Jae-woong has returned to the front lines of management. Set to return as chair of SOCAR's board in March, he was recently appointed chief operating officer (COO).
According to SOCAR on the 20th, the former CEO was appointed COO that day and began handling company affairs. As COO, Lee will oversee the car-sharing service business and overall organizational operations, excluding new businesses.
SOCAR CEO Park Jae-uk is focusing on new businesses such as Autonomous Driving, establishing a division of roles between the current and former CEOs.
Earlier, Park informed employees of the former CEO's return at a SOCAR town hall meeting held at the company's headquarters in Seongdong-gu, Seoul, in Dec. last year.
After the regular general shareholders meeting in March, COO Lee will also serve as chair of SOCAR's board.
The former CEO stepped down from the SOCAR chief executive post in March 2020 after the National Assembly passed a revision to the Passenger Transport Service Act, commonly known as the "Tada ban law." However, in June 2023, the Supreme Court finalized acquittals for the former CEO and former VCNC CEO Park Jae-uk, operator of Tada.