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Aekyung Chemical’s inaugural CEO Pyo Kyoung-won (Aekyung Group) |
South Korean cosmetics-to-health care conglomerate Aekyung Group said Monday that it has officially launched Aekyung Chemical and appointed Pyo Kyoung-won as the inaugural CEO.
Aekyung Chemical was formed by combining the group’s three chemical businesses -- Aekyung Petrochemical, AK ChemTech and the old Aekyung Chemical.
In a meeting at Aekyung Tower, the group’s headquarters in Mapo-gu, western Seoul, on Monday morning, the new Aekyung Chemical’s board of directors finalized the three-way merger and the appointment of Pyo as CEO.
The directors also named Park Tae-han as the new chief executive of Aekyung Special Paint, a subsidiary under Aekyung Chemical.
By creating synergies from the combination of the three firms’ business portfolios, Aekyung Chemical targets 4 trillion won ($3.4 billion) in revenue and 300 billion won in operating profit by 2030.
By Kim Byung-wook (
kbw@heraldcorp.com)
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