Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.
Cho Hyun-bum takes 1st step toward return to management
Hankook & Company Chairman Cho Hyun-bum / Courtesy of Hankook & Company
By Nam Hyun-woo
Cho Hyun-bum, chairman of Hankook & Company, the holding company of Hankook Tire & Technology, has taken his first public step toward returning to management after being released on parole last month, attending a groupwide strategy meeting focused on artificial intelligence transformation (AX).
Cho attended the group’s affiliate innovation meeting held Thursday and Friday in Pangyo, Gyeonggi Province, the company said Monday. It marked his first publicly disclosed management-related activity since his release.
The meeting brought together about 50 senior executives from Hankook & Company and other affiliates.
Cho’s participation is seen as the beginning of his return to the group’s management, although the company said the meeting did not represent a full-fledged return and that a specific timeline has not yet been decided.
Cho was released on parole on July 30, about a month before completing his prison term. He was convicted of embezzlement and breach of trust and sentenced to two years in prison, with the Supreme Court upholding the sentence in May.
The two-day meeting covered six affiliates, including Hankook & Company, Model Solution and Hankook Networks. Each company presented its first-half performance and mid- to long-term strategy.
Executives discussed responses to external uncertainties, including global tariff conflicts and risks in the Middle East, while exploring new growth engines and ways to create synergies among affiliates.
Artificial intelligence transformation, or AX, was a key focus of the meeting. The group said it will accelerate business and organizational innovation based on digital transformation as electrification, automation and data-driven manufacturing reshape industries around AI.
The group plans to establish AI-based operating systems to improve work efficiency and ultimately boost profitability and competitiveness. It will also introduce AI-based standards at manufacturing and logistics sites to improve productivity and quality.
Hankook & Company said it will strengthen its core businesses in tires, batteries and thermal management while expanding into AI, robotics and automation, with the goal of becoming a “global mobility tech group.”