Third-generation heir Chung Kisun appointed chairman of HD Hyundai

Chung Kisun is a grandson of the late Hyundai Group founder and Chairman Chung Ju-yung

Chung Kisun, vice chairman of HD Hyundai Co., was appointed chairman of the holding company of South Korea’s largest shipbuilding group on Thursday, marking a generational shift at the family-controlled conglomerate.

Chung, 43, is the eldest son of HD Hyundai’s former Chairman Chung Mong-joon, who is the sixth-son of the late Hyundai Group founder Chung Ju-yung.

The thirg-generation leader is taking helm of the shipbuilding giant, which oversees HD Korea Shipbuilding & Offshore Engineering Co., HD Hyundai Heavy Industries Co. and HD Hyundai Oilbank Co.

As part of the new leadership change, Chung will also assume the role of co-chief executive at HD Hyundai XiteSolution Co., where he is expected to lead the restructuring of the struggling construction machinery maker.

He holds a degree in economics from Yonsei University and an MBA from Stanford University.

By Yeonhee Kim

yhkim@hankyung.com

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