Samsung C&T announced today new leadership for three of the Company’s core businesses. Executive vice presidents Young Ho Lee and Jung Suk Koh have been promoted to presidents and named the heads of the E&C and the T&I Groups, respectively. Executive vice president Keum Yong Chung was appointed as the head of the Resort Group and CEO of the Samsung Welstory subsidiary.
The Company’s three outgoing presidents & CEOs, Chi Hun Choi, Shin Kim and Bong Yung Kim stated that the right time had come for the next generation of leaders to take on greater responsibilities. “Together with our colleagues at Samsung C&T, we have had a tremendous journey of achievements and challenges. We are confident that our successors will continue to deliver many success stories for the Company,” they said in a joint statement.
The newly appointed heads of the business Groups have served in important operational roles within the Company and have proven track records within their respective fields.
– Young Ho Lee has helped drive the expansion and growth of Samsung C&T’s global business, having served as the Chief Financial Officer and head of corporate management of the E&C Group.
– Jung Suk Koh is a commodity trading specialist, having led T&I Group’s chemicals team and later the chemicals and industrial materials division. Since 2015, he has been the head of the Group’s planning team, responsible for setting its strategic directions.
– Keum Yong Chung has led the overall business operations of Samsung Welstory since 2017, having previously served as the head of human resources for Samsung Electronics.
While Mr. Choi will step down from his position as CEO of E&C Group, he will remain as Executive Chairman. Furthermore, the independent directors have recommended that he continue his role as Chairman of the Board. This would mark the first time that the Company will separate the Chairman of the Board and the CEO roles.
The new Group heads are expected to join the Board of Directors at the next AGM in March.