Taekwang Industrial (003240.KS) said it appointed Executive Vice President Jung In-chul as new co-CEO alongside existing CEO Lee Bu-eui following a board meeting on July 1.
Jung graduated from Seoul National University with a degree in business administration and earned an MBA from the university's graduate school. He served as strategy practice head at U.S. management consulting firms Monitor Group and A.T. Kearney, and oversaw strategic planning and overseas operations at Daelim Corporation.
At STX Group, he held positions including head of the planning and coordination division and leader of a management improvement task force. He subsequently served as CEO of CG InVites, a biopharmaceutical company. Jung joined Taekwang Industrial in July last year as executive vice president in charge of future business operations.
With extensive mergers and acquisitions experience and management expertise, Jung is expected to lead the company's strategic decision-making and key management initiatives.
Lee is a management planning specialist with broad experience in petrochemical operations and group strategy. A graduate of KAIST's chemical engineering department, he served as an executive in charge of petrochemical business planning at Daelim Industrial. He joined Taekwang Group in 2017 as a managing director responsible for textile and petrochemical planning in the group's business support division, coordinating cross-subsidiary collaboration projects.
In 2020, Lee took on the role of planning team head at Taekwang Group's Future Management Council support unit as senior managing director, overseeing mid- to long-term business strategy and future growth planning. Since April last year, he has served as senior managing director in charge of overall business operations at Taekwang Industrial, leading key strategic initiatives.
"The combination of the two co-CEOs' strategy and M&A capabilities will strengthen the overall balance of management," a Taekwang Industrial official said. "We will actively expand our future business foundation while reinforcing the competitiveness of our existing operations."
