New KT&G chief vows to strengthen transparency

New KT&G president Baek Bok-in vowed to strengthen transparency and ethical management during his inauguration on Wednesday, urging the nation’s largest tobacco maker to snap out of the “wrong of the past and faulty precedents.”

Baek, 50, said he will make “three Cs” -- clean, cooperative and creative -- as his top management agenda.

Set for a three-year term, Baek, former KT&G’s vice president and chief strategy officer, replaced Min Young-jin who resigned following graft allegations.

“Under the firm belief that transparency and ethical management is essential for the company’s survival and sustainable growth, KT&G will strengthen the authority and professionalism of the ethical management office,” Baek said in his inauguration speech.

He also vowed to “set up a systematic tool to uproot the previous wrongful practices by reflecting on the past.”

Baek’s inauguration came shortly after the extraordinary shareholders meeting that was held earlier in the day in the tobacco maker’s human resource development center in Daejeon.

For stronger global competitiveness, Baek said the corporate units will be given larger independence in operation as well as the responsibilities and rewards that entail. The tobacco maker will announce a major organizational reshuffle on Thursday.

Regarding the company’s overseas plans, Baek said he will push for major expansion in the emerging markets, to increase the exports of cigarettes and insam, or Korean ginseng.

For a healthy corporate culture, the KT&G president vowed to launch a joint committee to broaden the communication among employees. He also emphasized stronger communication with the community through social contributions.

By Chung Joo-won (joowonc@heraldcorp.com)