Hyun-bum Cho, Chairman of Hankook & Company Group: “Hanon Systems to Normalize Operations within 3 Years”

‘2025 Hanon Systems Management Strategy Meeting’ Held – Reveals Commitment to Improvement, ‘Hyun-bum Cho, Chairman of Hankook & Company Group, announced plans to normalize the management of Hanon Systems within three years through intensive innovation.’,
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Hyun-bum Cho, Chairman of Hankook & Company Group. [Photo=Hankook & Company Group],
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, “The group announced on the 4th that Chairman Cho held the ‘2025 Hanon Systems Management Strategy Meeting’ at the Technoplex headquarters in Pangyo, Gyeonggi Province, attended by Hanon Systems executives and other Hankook & Company Group management members on the 28th.”,
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, ‘At the meeting, Chairman Cho emphasized the importance of analyzing and improving past errors and misguided practices of Hanon Systems, which possesses national core technology, stating, “How we innovate in the next three years is crucial.” He urged, “From now on, let’s proactively and actively execute innovative changes with a sense of urgency.”‘,
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, ‘He continued, “Despite the uncertain global economic situation, you have established innovative mid- to long-term strategies,” stressing, “Instead of focusing on planning, strategy, and decision-making, now is the time to emphasize execution and move quickly.”‘,
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, ‘Furthermore, he indicated, “Hanon Systems is the world’s second-largest thermal management solutions company with core national technologies.” He advocated for normalizing the company’s financial structure based on their proactive corporate culture and dedicating efforts to advanced technology research and development (R&D) that enhances national competitiveness.’,
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, ‘Chairman Cho proposed directions for improving Hanon Systems, such as adopting a mindset of innovative management, strengthening market intelligence, enhancing sustainable R&D strategies, and promoting transparent and efficient communication.’,
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, ‘He stated, “We will move away from existing accounting policies that aim to inflate operating profits in the short term and pursue reflecting the true nature of the company,” adding, “The ability to find and resolve issues postponed by private equity funds (PEF) and former management is positive.” ‘,
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, ‘Chairman Cho has been known to frequently hold global management meetings and engage with employees to seek solutions even before acquiring Hanon Systems. He is also recognized for visiting work sites alone, without an entourage, and communicating with employees regardless of rank.’,
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, ‘The meeting was attended by Chairman Cho, Jong-ho Park, CEO of Hankook & Company, Soo-il Lee, CEO of Hanon Systems (Vice Chairman), and CEOs Jong-seon Ahn and Sang-hoon Lee of Hankook Tire.’,
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, ‘Last month, Hanon Systems implemented a major organizational restructuring to enhance global competitiveness and efficiency and improve its financial structure. The core of the restructuring involves organizing units by automotive brand to centralize functions critical to business execution.’,
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, “In line with this, it established ‘Regional Business Groups’ focused on execution in Asia-Pacific, China, the United States, and Europe. Key business functions such as sales and product planning, production, quality control, purchasing, and finance, previously held by the global headquarters, were redistributed to these regions.”,
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, ‘The group explained that this change is to swiftly adapt to the diverse future strategies of global markets based on differences in finished automakers and regions.’,
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, ‘A Hankook & Company Group representative stated, “Chairman Cho has initiated official actions for the innovation and transformation of Hanon Systems, a company possessing our nation’s core technologies. He is actively holding meetings and reviews frequently to pre-emptively respond to global economic uncertainties and support our economy.”‘,
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