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These are the first promotions at the executive level in two years, as the conglomerate has been under a creditor-led restructuring program.
The chairman’s son is to become an executive vice president at Kumho Tire next week. He is one of the third-generation scions of Kumho, which was founded in 1946 by Park In-cheon as a logistics and transportation service company. Korean conglomerates are usually managed by founder’s families.
The 35-year-old Park studied biology at Yonsei University and received his MBA from MIT in 2005. He joined Kumho in 2002 as a junior manager of Asiana Airlines, a core subsidiary of the group.
Nine executives, including Jang Sung-ji, the group’s chief of public relations affairs, were newly named as senior executive vice presidents ― the third highest rank after chairman and chief executive officer ― at the group’s headquarters and its six subsidiaries.
Kumho said there will be no reshuffling of CEOs at this time.
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