By Kim Bo-eun
GS Group Executive Vice President Huh Suh-hong / Korea Times file
GS Group scion Huh Suh-hong was promoted to executive vice president as part of the latest promotions at Korea’s eight-largest business conglomerate on Wednesday.
Huh has served as senior vice president of the group as the head of new businesses. GS’s businesses include energy, retail and construction. He is also the oldest son of Samsung International Chairman Huh Kwang-soo and the nephew of the late honorary chairman of LG Construction Huh Joon-koo. GS Group Chairman Huh Chang-soo is Huh Joon-koo’s eldest son.
Most GS Group’s affiliates retained their CEOs based on performance. GS EPS, the power generation affiliate, tapped Chung Chan-soo as its CEO and GS E&R, the energy unit, appointed Kim Seok-hwan as its chief executive. GS Global, the trading arm, tapped Lee Young-hwan as its CEO and Parnas Hotel appointed Yeo In-chang as its chief executive.
Chung served as CEO of GS E&R and Kim as CFO at GS Holdings. Lee headed the supply and trading division at GS Caltex, the group’s energy and chemical affiliate. Yeo was appointed to his position from outside GS Group.
The conglomerate’s promotions reflected its drive for businesses in new growth sectors. More than 20 percent of the 43 promoted positions will be in charge of strategy and investments in the group’s new businesses.
“The latest promotions can be summarized into three points: acceleration of businesses in new growth sectors, boosting ESG management and diversification of the group’s business portfolio via scouting of experts outside the group,” GS said in a statement.Internet Explorer Channel Network