Latest news with #ChoChang-hyun
Korea Herald
10-07-2025
- Business
- Korea Herald
Hyundai Card names sales chief as new CEO
Hyundai Card, the credit card unit of Hyundai Motor Group, has nominated Cho Chang-hyun, head of card sales operations, as its next CEO. The company's executive nomination committee selected Cho as the sole candidate on Wednesday, with final approval to be made at an upcoming shareholders meeting. Once confirmed, he will lead the firm alongside Vice Chairman and co-CEO Chung Tae-young. Cho joined Hyundai Card in 2004 and has since held leadership roles across key divisions including marketing, product planning and sales. He became an executive in 2016 and has overseen a wide range of operations, from the company's two flagship products — General-Purpose Credit Card and Private Label Credit Card — to the finance and corporate business divisions. He currently leads the card sales operations division. 'Cho has demonstrated strong capabilities in managing strategy from planning through execution, and has shown balanced leadership in achieving sales targets while effectively controlling risk,' the company said in a disclosure. 'We believe he is the right person to deliver strong results amid an increasingly competitive financial landscape by identifying future business opportunities, expanding customer touchpoints and enhancing service competitiveness.' His deep expertise in the PLCC business was a key factor in his nomination, amid growing pressure on the segment. Cho is set to replace current CEO Kim Deok-hwan, who offered to resign before the end of his term in March 2026. Industry reports have linked Kim's early departure to instability in the company's PLCC business. Hyundai Card has positioned itself as a leading player in the PLCC sector, which not only fosters customer loyalty but also enables the company to build valuable data assets — an area it has increasingly prioritized. However, the business faces growing uncertainty. Hyundai Card's exclusive six-year PLCC partnership with Starbucks Korea — one of its flagship partners — is set to expire later this year. The coffee chain is reportedly exploring alternative partners, raising the risk of a high-profile loss for the card issuer. To navigate these challenges, the company is turning to Cho, a seasoned PLCC strategist it credits with having driven the business' advancement. Under his leadership, Hyundai Card expanded its PLCC partner network across nearly 20 sectors and maintained steady growth, reinforcing the firm's broader push into data science collaboration.
Korea Herald
10-02-2025
- Business
- Korea Herald
ISTE enhances corporate clientele ahead of Kosdaq listing
Semiconductor equipment manufacturer ISTE has secured a deal to expand its business range ahead of its market debut on the country's secondary bourse Kosdaq, the company announced Monday. The customer is an outsourced semiconductor assembly and test company with its headquarters based in the US, ISTE explained. According to the company, the latest deal shows how the company has been responding to new demand from customers and was able to expand its customer range, strengthening its presence in the chip industry. Meanwhile, ISTE is set to go public on the tech-laden bourse Kosdaq on Wednesday. Around 2,074 domestic and international institutions participated in the book building last month, leading to a competitive bid ratio of 1,148-to-1. For retail investors, the ratio stood at 455-to-1. The company attracted 844.4 billion won ($582 million) in subscription deposits. In its securities registration statement, ISTE projected to post 70.6 billion won in sales this year and log 10.5 billion won in operating profit. It further suggested its key product, the Front Opening Unified Pod cleaner, would generate 34.8 billion won in sales this year, marking a 168 percent on-year growth. ISTE provides chip cleaning equipment to 13 companies in and out of Korea, including big names such as SK hynix, Samsung Electronics and SK Siltron. 'Visiting the CES trade show held in Las Vegas last month, the HBM (high-bandwidth memory) market is likely to continue expansion, and the market for semiconductor glass substrate is projected to show sharp growth, fostering a favorable environment for the company products,' ISTE CEO Cho Chang-hyun said through a press release. 'We will continue to expand business to boost shareholder return and communicate with investors following the listing.'
