New Samsung Affiliate CEO

President Kim J.Y. of Cheil Industries elected chairman of Korea Skating Union

President Kim Jae-yol is the new CEO of Cheil Industries Inc., an affiliate of Samsung Group as of March 1, promoted from vice president of the wool textiles maker, the company said.
Kim is a son-in-law of Chairman Lee Kun-hee of Samsung Group, married to Lee’s second daughter Seo-hyun since 2000, and his promotion had to do with his sole candidacy as chairman of the Korea Skating Union (KSU). His chance to be elected was high because all chairmen of sports associations are CEOs of businesses. The company said the new CEO will only take charge of the management planning office of the company, the same area of responsibility he has been in charge as vice president.
On March 9, the KSU elected him as its official chairman, since he has been acting chairman since Feb. 10 when Chairman Park Seong-in abruptly announced his retirement. He was unable to attend the temporary general conference of the KSU as he had to be at a meeting of the 2018 Pyeongchang Winter Olympics Bid Committee held on the same day at the Lexington Hotel in Yeouido, Seoul.
Kim joined the KSU as vice chairman in charge of international events in 2009 while serving as vice president of Cheil Industries Inc., where he has worked since 2002 after returning home from the United States. A son of a former chairman of the Donga Ilbo, a major daily paper in Korea, he graduated from Wesleyan University with a degree in international politics and earned a master’s degree from Johns Hopkins University and a master’s degree in management from Stanford University. He worked for E-Bay in the United States for a while. Kim was promoted to president only three months since his promotion to vice president in December last year. This coincided with the promotion of his wife to vice president. She will continue to be the vice president for Cheil Industries and Cheil Worldwide Inc. nw

President Kim Jae-yol of Cheil Industries Inc. and also chairman of the Korea Skating Union.