New year, new chairman: Cho Hyun-bum takes the reins at Hankook & Company

Cho Hyun-bum has been officially inaugurated as chairman of Hankook & Company, holding firm for Hankook Tire & Technology. Hyun-bum is the younger son of former chairman Cho Yang-rai, who becomes the company’s honorary chairman.

The inauguration takes place ten months after Cho Hyun-bum won out against his siblings to take control of the tyre maker’s management. He became the sole head of Hankook & Company after older brother Cho Hyun-sik announced his resignation as vice-chairman on 24 February. Hyun-sik will serve as an advisor to Hankook & Company.

Cho Hyun-bum joined Hankook Tire in 1998 and headed the marketing and business planning divisions before becoming chief executive officer. He is also the son-in-law of Lee Myung-bak, former President of South Korea.