HDC Group announced on Sept. 28 that it will appoint Jung Joong-kyu, vice president of HDC Hyundai EP, as CEO as of Oct. 5.
Starting with GM Korea, new CEO Jung served as co-chairman of Kolon Basf Innopom, a joint venture between BASF and Kolon, in 2015, after serving as a global chemical company DuPont and BASF. Until recently, he worked as a consultant for Asian business strategy at BASF.
Based on his 20 years of experience in petrochemicals, he was considered the right person to discover new growth engines for HDC Hyundai EP and diversify the business portfolio.
"We will achieve results on the global stage based on the stable business base of the domestic market share of polypropylene in the automotive sector," said CEO Jung, adding, "We will start to strengthen our competitiveness in the market by establishing eco-friendly businesses that are expected to grow rapidly and mapping out differentiated product portfolios."
HDC Hyundai EP, which marks its 20th anniversary this year, is making a new leap forward for continued growth by securing a production base for key materials in the energy industry sector that are expected to grow in the future, including the recent expansion of its Dangjin plant and the completion of Chennai Plant 2.
In addition, the company acquired a stake in Eco-Bio Plastic Korea (EBPK), which produces paper plastics, to pioneer a new market for eco-friendly material projects, and is also seeking to diversify its business by introducing new insulation materials for buildings with fire stability.