 |
From left: Ryu Doo-hyung, CEO of Hanwha/Global; Kim Jong-seo, CEO of Hanwha Engine; Rafi Valta, CEO of Hanwha Power Systems; Choi Seok-jin, CEO of the Resort Division, Hanwha Hotels & Resorts; and Kim Kyung-soo, CEO-designate of the Estate Division, Hanwha Hotels & Resorts. (Photo courtesy of Hanwha Group) |
[Alpha Biz= Kim Jisun] Seoul, August 31, 2025 — Hanwha Group announced executive appointments at four affiliates on August 31, naming five new CEOs in a move aimed at bolstering global competitiveness and adapting to a rapidly changing business environment. Notably, executives from Hanwha Ocean, which plays a key role in the Korea-U.S. shipbuilding cooperation project “MASGA (Make American Shipbuilding Great Again),” have been promoted to top leadership positions.
Hanwha appointed new CEOs at Hanwha/Global, Hanwha Engine, Hanwha Power Systems, and Hanwha Hotels & Resorts (Resort and Estate divisions). The group said the reshuffle reflects its focus on strengthening business competitiveness and capturing future global market opportunities.
The most prominent change is the promotion of Ryu Doo-hyung, Head of Business Strategy at Hanwha Ocean, and Kim Jong-seo, Head of the Merchant Ship Division at Hanwha Ocean, who have been appointed CEO of Hanwha/Global and CEO of Hanwha Engine, respectively. Industry watchers view the appointments as recognition for their roles in successfully stabilizing Hanwha Ocean within two years of acquisition and leading the landmark acquisition of Philadelphia Shipyard in the United States — a symbolic centerpiece of the MASGA project.
Ryu previously served as CEO of Hanwha Energy, Hanwha Advanced Materials, and Hanwha Momentum, with extensive experience across materials, energy, and machinery. Since last year, he has led business strategy at Hanwha Ocean. In his new role at Hanwha/Global, he will focus on advancing business strategy and enhancing global competitiveness.
Kim, who previously served as CEO of Hanwha Total and most recently as head of Hanwha Ocean’s merchant ship division, has been credited with expanding LNG carrier sales and improving profitability through selective order strategies. He is expected to drive competitiveness and business diversification in the marine engine sector, a “blue ocean” in global shipbuilding, and play a larger role in the MASGA initiative.
At Hanwha Power Systems, Rafi Valta, current COO, has been appointed CEO. With more than 35 years of experience in the engine and gas turbine industry, including roles at GE and Precision Castparts, Valta joined Hanwha Power Systems last year and is expected to lead expansion in compressors and gas turbines.
Hanwha Hotels & Resorts will transition to a co-CEO structure to enhance expertise by business division. Choi Seok-jin has been appointed CEO of the Resort Division, while Kim Kyung-soo will serve as CEO of the Estate Division.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
