South Korean industrial conglomerate Hyosung Group, strong in its textile and chemical businesses, has named Cho Hyun-sang its new vice-chairman, the company said on Thursday.

The move comes nearly four years after Cho was appointed president in 2016.

In an announcement of his new role, the company explained the appointment is to strengthen responsible management and proactively respond to the “changing business environment as a result of the prolonged coronavirus pandemic and the fourth industrial revolution.”

Cho, who is a younger brother of the group’s chairman Cho Hyun-joon, has played multiple roles, including head of corporate strategy center, president of Industrial Materials and the chief marketing officer of Hyosung Chemicals.

Cho previously worked as a consultant at the Japanese unit of global consulting firm Bain & Company before joining the company his grandfather founded in 1966 during the group’s restructuring as a result of the Asian financial crisis.

In 2007, he was named one of the Young Global Leaders by the World Economic Forum alongside footballer Park Ji-sung.

Following the announcement, the company said that it will continue efforts to pursue growth engines such as eco-friendly materials, big data and the hydrogen economy.

By Yim Hyun-su (hyunsu@heraldcorp.com)