Hanjin Group chairman Cho Yang-ho was named the new chief executive of Hanjin Shipping during a shareholders’ meeting Tuesday.
With the new job, Cho now oversees all the group’s transportation affiliates, including the airline Korean Air and logistics arm Hanjin.
In his inauguration speech Tuesday, the chairman pledged to turn the cash-strapped Hanjin Shipping around as soon as possible, saying he would not receive any payment until then.
“Hanjin Shipping is the very history of the nation’s marine transportation,” he said. “We will continue the ongoing turnaround efforts to become a global shipping company.”
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koreaherald@heraldcorp.com
