HS Hyosung’s 1st non-owner chairman begins official duties

People visit HS Hyosung Advanced Materials' booth at JEC World 2026 in Paris, March 10. Courtesy of HS Hyosung Advanced Materials

HS Hyosung Chairman Kim Kyoo-young / Courtesy of HS Hyosung

HS Hyosung Chairman Kim Kyoo-young began his official duties on Thursday as the advanced materials conglomerate’s first head without ownership ties, as it seeks to establish a more professional decision-making system.

Kim made headlines in December when he was appointed chairman — a position above owner Vice Chairman Cho Hyun-sang — in what was seen as a rare move in the Korean business community, where ownership and management are typically intertwined.

The group said Kim’s chairmanship is in line with Cho’s philosophy of separating ownership and management, in order to establish a more rational and professional decision-making structure. Kim’s leadership will strengthen transparency and accountability of the group, enhancing long-term corporate value, the group said.

Kim joined Tongyang Nylon, the predecessor of Hyosung Group, in 1972. Over more than five decades, he has held key posts including factory manager of plants in Eonyang, near Ulsan, and Anyang, Gyeonggi Province; president of China operations; chief technology officer; and head of the Hyosung Technical Institute.

He is widely credited with laying the technological foundation for Hyosung’s textile business, including developing spandex and upgrading product quality. Kim also served as CEO of Hyosung Group’s holding company for eight years beginning in 2017. HS Hyosung was separated from Hyosung Group in 2024.

HS Hyosung said Cho has emphasized the importance of capability and performance in personnel decisions, noting that leadership should be entrusted to those who can maximize corporate value, regardless of whether they come from the owner family.

The group said it expects Kim’s expertise and leadership to help navigate the increasingly challenging global business environment, including risks stemming from the Middle East crisis.

Along with Kim’s appointment, Cho has stepped down from the co-CEO post of HS Hyosung, the group’s holding firm, and will serve as a board director at HS Hyosung Advanced Materials, the group’s flagship unit. There, he will focus on streamlining the group’s portfolio and setting medium- to long-term strategies.

Following Cho’s departure, HS Hyosung has appointed Vice Chairman Roh Gi-soo as a new co-CEO, alongside incumbent co-CEO Ahn Sung-hoon.