April 19, 2024
Automobiles
BMW Korea chief to serve another 3-year term
[THE INVESTOR] BMW Korea CEO Kim Hyo-joon is expected to be reappointed to the helm of the local unit of the German luxury automaker for another three years.
“My term ends next February when I am 60 years old. But the German headquarters requested me to lead for another three years,” Kim said at the BMW Driving Range in Incheon on Nov. 15, where the automaker unveiled a connected car running on a 5G trial network. “I haven’t given my answer, but everyone thinks I will (be reappointed).”
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BMW Korea CEO Kim Hyo-joon |
“Non-Korean heads that leave the country after their two- to three-year period cannot have a long term vision (of the automaker),” he said. “I am shortlisting possible candidates for the CEO position. I plan to recommend my successor to the headquarters when it’s confirmed.”
Kim is a BMW veteran who became the CEO in 2000, the first Korean to take the helm of the local unit. Under his tenure, the German automaker led the stellar growth of the nation’s imported car market.
Kim said BMW enjoyed a solid year, on the back of strong dealers and good service maintenance. As of October, BMW sold 37,285 units in Korea, ranking No. 2 in the imported car sector, behind German automaker Mercedes-Benz.
He said the much-anticipated New 5 series will be rolled out in February next year.
By Ahn Sung-mi (sahn@heraldcorp.com)
