South Korea’s HD Hyundai has formally handed control to a new generation, appointing 43-year-old Chung Kisun as chairman of the nation’s largest shipbuilding group — a move marking both a dynastic handover and a philosophical shift for the storied industrial powerhouse.
The eldest son of HD Hyundai’s former chairman Chung Mong-joon — and grandson of Hyundai Group founder Chung Ju-yung — Chung Kisun represents the third generation of family leadership. His elevation ends decades of professional management at the helm of the conglomerate, with outgoing chairman Kwon Oh-gap stepping aside to become honorary chairman.
Chung, an economics graduate from Yonsei University with an MBA from Stanford, has cultivated a markedly different public image from his predecessors — one that blends the pragmatism of a shipbuilder with the polish of a tech entrepreneur.
Under his leadership, HD Hyundai has sought to reposition itself as an ocean technology group rather than a pure-play shipbuilder. The company has expanded its AI, robotics and data ventures through HD Hyundai XiteSolution, and poured investment into smart yards and autonomous navigation platforms. The group’s rebranding from Hyundai Heavy Industries to HD Hyundai in 2023 symbolised this strategic pivot — one that reflects Chung’s long-term vision of merging industrial engineering with digital innovation.
As part of Thursday’s leadership reshuffle, Chung will also become co-chief executive of HD Hyundai XiteSolution, taking on the challenge of restructuring the group’s ailing construction machinery arm.
He retains his post as chief executive of HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the sub-holding company overseeing the group’s three shipbuilders — HD Hyundai Heavy Industries, HD Hyundai Mipo Dockyard, and HD Hyundai Samho Heavy Industries.
