GS Group promoted GS Holdings CEO and President Hong Soon-ki to vice chairman and appointed Vice President Hur Suh-hong as the new CEO of GS Retail. The leadership reshuffle comes in response to global uncertainties, including rising energy demand driven by artificial intelligence (AI) and the shift toward clean energy. GS Group has placed experienced executives in key roles while positioning younger leaders to drive innovation and seeking new growth engines to navigate the rapidly shifting utilities sector.
The 65-year-old incoming vice chairman, Hong, joined Honam Oil Refinery in 1986 and later worked in LG’s restructuring division before moving to GS Holdings in 2004, when the company was founded. He has served as head of support teams and CFO. As the group’s sole vice chairman, he will focus on reinforcing the company’s foundation to withstand external challenges.
Hur, a 47-year-old fourth-generation heir, is tasked with generating new growth opportunities in the highly competitive domestic retail sector, including convenience stores. He previously led new business development and investments at GS Energy and GS Holdings, including the acquisition of biotech firm Hugel in 2021, which expanded the group’s portfolio. Hur is the son of Samyang International Chairman Hur Kwang-soo and the first cousin once removed of GS Group Chairman Huh Tae-soo.
The reshuffle also promoted GS Power CEO Yoo Jae-young and GS Sports CEO Yeo Eun-joo from vice president to president. In the energy sector, GS E&R CEO Kim Suk-hwan was appointed the new CEO of GS EPS, while Kim Sung-won will succeed him as CEO of GS E&R, and Hwang Byung-soo became the CEO of GS Donghae Electric Power. In response to the downturn in the construction industry, GS Construction consolidated its six divisions into three and merged the roles of vice president and senior managing director into a single position.
Across the group, five executives were promoted to vice president, and seven were promoted to senior managing director, while the number of new managing directors decreased from 31 last year to 18. GS Group also strengthened its venture investment efforts by appointing 43-year-old Hong Suk-hyun as CEO of GS Ventures, focusing on identifying future growth drivers.
