GS Group, the South Korean energy, retail and construction conglomerate, on Wednesday said it promoted 50 executives across its affiliates, the most the group has carried out in its annual reshuffle since its establishment in 2005. The promotions include Kim Seong-min, new CEO at GS Caltex, Yoo Jae-young, CEO of GS Power, and Cheong Yong-han, CEO of GS Entec. Kim, along with Hur Sae-hong, the incumbent CEO of GS Calt.
HMM extends program to help small companies ship goods
HMM is extending a program to set aside cargo space for smaller companies.
The company, which is Korea’s largest shipper, said Friday that it signed an agreement with the Korea SMEs and Startup Agency (Kosme) to offer 50 twenty-foot equivalent units (TEU) on vessels heading to Europe through December. The company plans to extend its offering of 350 TEU on container vessels heading to the United States, which started in November, through December too.
Exporters continue to struggle to secure space on ships as Covid-19 has resulted in high demand.
The decision is part of the company’s plan “to support Korea’s small-and-mid-sized companies to gain competitiveness by offering smooth export through marine transportation,” said Bae Jae-hoon, HMM CEO, in a statement. “As a representative shipper in Korea, [HMM] will have a sense of responsibility and put in its utmost effort to help cargo be transported smoothly.”