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| GS Group Chairman Huh Tae-soo |
GS appointed Huh as new chairman of the country's eighth-largest conglomerate in December 2019, replacing his older brother Huh Chang-soo, who led the group for 15 years.
The younger Huh has led GS Home Shopping since 2007 and played a leading role in the company's successful entry into overseas markets, and the mobile shopping business. Under his term, GS Home Shopping saw its sales grow to 4.28 trillion won in 2019 from 1.9 trillion won in 2006.
As new chairman, Huh needs to find a breakthrough for the group whose portfolio ranges from oil refining and construction to retail amid growing uncertainties sparked by the coronavirus pandemic.
"Chairman Huh showed his outstanding leadership while serving as an executive of the investment banking team of LG Investment and Securities and CEO of GS Home Shopping," a GS Group official said.
"In the rapidly-changing global environment, Huh is expected to play a significant role in improving the business portfolio of GS Group by taking preemptive action and developing future growth engines," the official added.
In a New Year address, Huh urged executives to be ready for challenges by developing an agile corporate culture and improved digital capabilities. He also emphasized the need to expand overseas to find new growth.
