April 25, 2024
Industrials
3 Korean shipbuilders picked as most influential in Lloyd’s List
[THE INVESTOR] The heads of three Korean shipbuilders have been selected as some of the most influential figures in the shipping industry, a UK journal reported on Dec. 20.
According to Lloyd’s List of the “100 most influential people in the shipping industry,” Daewoo Shipbuilding and Marine Engineering CEO Jung Sung-leep ranked 76th for showing a “willingness to roll up his sleeves and deal with the troubled shipbuilder’s issues head on.”
Jung personally visited Angola and the United Arab Emirates to negotiate payment and delivery issues for the drill ships as part of his efforts to sort out the company’s financial difficulties, the weekly news outlet said.
Samsung Heavy Industries CEO Park Dae-young stood at the 87th in recognition for managing the company to return to the black in the third quarter with a net income of 128.6 billion won ($108 million).
He has been included in the list for the past four years.
Hyundai Heavy Industries Chairman Choi Kil-Seon also ranked 93th for leading a “fresh senior team to aid his quest in nursing HHI back to health” and introducing a dual chief executive management system to overcome the obstacles.
At the No. 2 spot, Hanjin Shipping, Korea Development Bank and South Korea were collectively picked.
“The pitfalls of South Korea’s growth model have been laid bare by the demise of Hanjin Shipping,” the journal said.
It added that the KDB’s responses underlined how the government stumbles on industry policy-making after the country’s carriers and shipbuilders have suffered years of heavy losses.
The ranking was determined based on the analysis of the industry events and business decisions of the past 12 months, the UK journal said.
By Lee Hyun-jeong/The Korea Herald (rene@heraldcorp.com)
According to Lloyd’s List of the “100 most influential people in the shipping industry,” Daewoo Shipbuilding and Marine Engineering CEO Jung Sung-leep ranked 76th for showing a “willingness to roll up his sleeves and deal with the troubled shipbuilder’s issues head on.”
Jung personally visited Angola and the United Arab Emirates to negotiate payment and delivery issues for the drill ships as part of his efforts to sort out the company’s financial difficulties, the weekly news outlet said.
Samsung Heavy Industries CEO Park Dae-young stood at the 87th in recognition for managing the company to return to the black in the third quarter with a net income of 128.6 billion won ($108 million).
He has been included in the list for the past four years.
Hyundai Heavy Industries Chairman Choi Kil-Seon also ranked 93th for leading a “fresh senior team to aid his quest in nursing HHI back to health” and introducing a dual chief executive management system to overcome the obstacles.
At the No. 2 spot, Hanjin Shipping, Korea Development Bank and South Korea were collectively picked.
“The pitfalls of South Korea’s growth model have been laid bare by the demise of Hanjin Shipping,” the journal said.
It added that the KDB’s responses underlined how the government stumbles on industry policy-making after the country’s carriers and shipbuilders have suffered years of heavy losses.
The ranking was determined based on the analysis of the industry events and business decisions of the past 12 months, the UK journal said.
By Lee Hyun-jeong/The Korea Herald (rene@heraldcorp.com)
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