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HS Hyosung appoints first chairman from outside owning family

Published: 01 Apr. 2026, 16:11 Updated: 01 Apr. 2026, 19:25

HS Hyosung Chairman Kim Kyoo-young [HS HYOSUNG]

Kim Kyoo-young took over as chairman of HS Hyosung on Wednesday, becoming the first nonowner to lead the Hyosung family’s business in its 60-year history.

“With Kim’s inauguration, HS Hyosung plans to establish a professional and rational decision-making system and move in earnest to build transparent and healthy corporate governance,” an HS Hyosung representative said Wednesday. "It reflects the company’s determination to strengthen transparency and accountability through a balance between ownership and management and to enhance long-term corporate value.”

Chairman Kim studied textile engineering at Hanyang University and joined Dongyang Nylon, the predecessor of Hyosung, in 1972. Trusted by the late Honorary Chairman Cho Suck-rai, he was appointed to a series of key posts.

During his time leading Hyosung’s research and development division, Kim oversaw the group’s technology strategy and helped advance key products such as spandex and tire cords.

From 2017, Kim served as CEO of Hyosung and oversaw the group management for about eight years. After being promoted to vice chairman in 2022, he led the group’s mid- to long-term strategy and efforts to improve its management structure.

HS Hyosung Vice Chairman Cho Hyun-sang speaks in an interview with Yonhap News Agency at the World Economic Forum in Davos, Switzerland, on Jan. 19, 2023. [YONHAP]

Meanwhile, Vice Chairman Cho Hyun-sang, the largest shareholder, will continue to lead efforts to strengthen the competitiveness of existing businesses, identify future growth engines and expand investment. The move is intended to help the company respond proactively to risks arising in a rapidly changing global business environment.

To optimize the group’s overall portfolio, Cho will also work on a mid- to long-term strategy for HS Hyosung Advanced Materials. Cho also plans to continue serving as head of the volunteer group he founded last year and to stay at the forefront of the company’s charitable efforts, including support for people with disabilities and culture and the arts.

“It is rare among Korean companies to appoint a chairman from outside the owning family,” a source in the business community said. “HS Hyosung has built a new governance structure based on checks and balances.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KO SUK-HYUN [[email protected]]