Hanjin CEO Park stepping down

Hanjin CEO Park stepping down Jung Won Park, Hanjin Shipping president and chief executive officer, will retire at the end of the year and be replaced by current chief operating officer Y.M. Kim, the Korean carrier said Wednesday.

Kim

   Park is retiring after 36 years in the shipping industry, the last four of which he has served as Hanjin's CEO. As head of Hanjin's liner activities prior to becoming CEO, Park was 'instrumental' in forging the CKYH carrier alliance — in which Hanjin participates with COSCO, 'K' Line and Yang Ming. He will now serve as an executive advisor for Hanjin.
   Kim has served as deputy CEO since 2004, after a stint managing Hanjin's joint venture container terminal operations on the U.S. West Coast. Prior to joining Hanjin, Kim spent 20 years at Citigroup with postings in Seoul, Hong Kong, Bangkok and New York.
   Hanjin also said W.W. Lee has been appointed CEO for container liner business and D.H. Baek as CEO for bulk business.