Daehan Cable names Kim Jun-seok, who led Hoban Group's acquisition, as new CEO
In short
Daehan Cable's board named President Kim Jun-seok (김준석) its new representative director on the 21st, the company said. Kim led the practical work of Hoban Group's acquisition of Daehan Cable, and the company said he will focus on expanding in the US and Europe and on HVDC and submarine cables.
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Daehan Cable said on the 21st that its board had met and appointed President Kim Jun-seok as its new representative director. All ten documents report the appointment, which the company announced. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 ]
Kim joined Hoban Group in 2010 after working at Korea Hydro & Nuclear Power. Bloter and Seoul Economic Daily say he started at the nuclear power company in 2007, and Asia Economy, Bloter and Seoul Economic Daily say he graduated from Seoul National University's nuclear engineering department. Bloter adds that he also holds a degree from Yonsei University's graduate school of business. Several outlets say he led the practical work of Hoban Group's acquisition of Daehan Cable, which Asia Economy, Bloter and Seoul Economic Daily date to 2021. Bloter says he later handled major mergers and acquisitions and business diversification at the group. [ 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 ]
At Daehan Cable, Kim served as head of the management division from 2023 and then as executive vice president for management, according to several outlets. Bloter says he was a managing director when he led the management division and was promoted to executive vice president last year. Seoul Economic Daily says he was promoted to president at Hoban Group's reshuffle of its presidents on the 2nd and was then slated to become Daehan Cable's CEO. Bloter and Seoul Economic Daily say he also remains president and head of Hoban Group's strategy division. [ 1 , 2 , 4 , 5 , 7 , 10 ]
According to Yonhap and Chosun Ilbo, Daehan Cable said Kim will focus on expanding its business base mainly in the US and Europe, where growth opportunities are rising with greater investment in power grids and the energy transition. The company also named raising the competitiveness of next-generation businesses such as HVDC and submarine cables, and improving management efficiency, as main tasks. Seoul Shinmun, Newsis and Asia Economy add plans to strengthen technology and production capacity. [ 1 , 2 , 3 , 4 , 6 ]
Kim held no inauguration ceremony and delivered his address through the company's internal groupware, which Yonhap describes as an internal work collaboration system. In it he said Daehan Cable should achieve greater growth on the technology, experience and customer trust it has accumulated over a long time. Several outlets quote him as saying "small differences add up to a company's competitiveness" and as saying he would identify market and customer changes quickly and focus on selected areas to raise corporate value. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 ]
Kim also said that about 10,000 lives, counting employees of domestic and overseas affiliates and their families, are tied to Daehan Cable. A company official said Kim has been with the company's growth and change since the acquisition process and is expected to raise the competitiveness of the HVDC and submarine cable businesses. Newsis reports that industry observers expect Daehan Cable to speed up management innovation under a younger leader, noting Kim was born in 1982. [ 1 , 2 , 4 , 5 , 7 ]
Why it matters
The appointment sets out the company's stated direction under its new chief executive: growth in the US and Europe and in next-generation HVDC and submarine cable businesses. The documents give no financial figures or market reaction tied to the appointment.
Key facts
- Daehan Cable held a board meeting on the 21st and appointed President Kim Jun-seok as its new representative director. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 ]
- Kim led the practical work of Hoban Group's acquisition of Daehan Cable. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 10 ]
- Kim joined Hoban Group in 2010 after working at Korea Hydro & Nuclear Power, and at Daehan Cable served as head of the management division and executive vice president for management. [ 3 , 4 , 6 , 8 , 9 , 10 ]
- Daehan Cable plans to expand its business base mainly in the US and Europe and to raise the competitiveness of HVDC and submarine cable businesses. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 ]
- Kim gave no inauguration ceremony and delivered his inaugural address through the company's internal groupware. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 ]
- Kim also serves concurrently as president and head of Hoban Group's strategy division. [ 5 , 7 ]
- Newsis and Dong-A Ilbo give Kim's age as 44; Newsis says he was born in 1982. [ 2 , 10 ]
Confirmed by several sources
- Daehan Cable's board appointed Kim Jun-seok as the new representative director at a board meeting on the 21st. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 ]
- Kim led the practical work of Hoban Group's takeover of Daehan Cable. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 10 ]
- Daehan Cable plans to expand its business base mainly in the US and Europe and to strengthen HVDC and submarine cable businesses. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 ]
- Kim skipped an inauguration ceremony and delivered his inaugural address through an internal company system. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 ]
- In the address Kim stressed building growth on the technology, experience and customer trust the company has accumulated, and said he would identify market and customer changes quickly and focus on selected areas to raise corporate value. [ 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 ]
Still unclear
- Who Kim succeeds, and the length of his term, are not stated. None of the documents names a predecessor or a term.
- Whether the younger leadership will speed up management innovation. Only Newsis reports that industry observers expect this, citing Kim's age of 44.