SsangYong Motor CEO and president Choi Johng-sik. SSANGYONG MOTOR/THE KOREA HERALD
DESPITE a slowing economy and growing uncertainties for market growth, South Korean SUV maker SsangYong has put its business back on track in the last four years, the company said on Tuesday, crediting its CEO’s leadership for its revival.
SsangYong Motor CEO and President Choi Johng-sik joined the carmaker in 2010 as domestic sales head and was appointed to the top post in 2015.
The CEO with 43 years of experience in the local auto market has realigned SsangYong’s SUV line-up entirely, set a sales record of 3.7 trillion won ($3.3 billion) last year and contributed in normalising labour-management relations. He is stepping down from the CEO post at the end of the month.
The SUV maker has strengthened its ties with parent company Mahindra & Mahindra, producing business synergy together on research and development and overseas business expansion, the company added.
Based on SsangYong’s full SUV line-ups, the carmaker sold a total of 109,140 vehicles last year, becoming the third-largest auto company in South Korea. It was the first time in 15 years that SsangYong had claimed the number spot.
As the CEO of SsangYong Motor, Choi has vowed to solidify SsangYong’s brand value as a traditional SUV maker and bring its operations into the black this year.
Under Choi’s leadership, SsangYong unveiled compact SUV Tivoli in 2015, which revived market appraisals of the carmaker’s strength and potential.
The compact SUV has become a signature product, with sales of around 44,000 units per year. A fully changed Korando re-entered the market in March, featuring high performance and an energy efficient 1.6-litre diesel engine, and a range of technological features, including digital interface, state-of-the-art vehicle control system and a 10.25 inch full digital cluster, the company said.
Choi’s achievement as CEO also includes his role in ending a decade-long conflict between labour and management last year. SsangYong reinstated 119 dismissed workers who left the company after the firm was placed under court receivership in 2009, before Mahindra took over the company.
Maintaining stability in labour and management relations has been Choi’s priority, the company said, adding that he had led open communication with the labour to normalise the company’s business, and secure sustainability in management. THE KOREA HERALD/ANN
