| Choi Byung-oh Hyungji Group Chairman |
Hyungji Group Chairman Choi Byung-oh was selected Thursday as the CEO of the Year for transforming his 30-year-old company into one of Korea's fashion powerhouses.
The Korea Academic Society of Business Administration, which represents hundreds of scholars majoring in the areas of business administration, chose Choi as the top CEO among the heads of mid-size enterprises.
The organization said the Hyungji chairman set a good example for younger entrepreneurs in turning dreams into reality, It said Choi is a successful self-made entrepreneur creating what Hyungji is today from scratch over the past three decades.
"It is such an honor to be named as the 2015 CEO of the Year of mid-sized enterprises by a group of business management professors," Choi said. "This award further reminds me of my initial resolution, which is to create a sustainable corporation that makes contributions to society. I will spare no effort to continue to do so."
Choi has also been serving as the chairman of the Korean Apparel Industry Association, taking the initiative in developing the nation's apparel industry. The chairman has been involved in the number of volunteer activities to help improve the livelihoods of low-income families.
According to the company, the chairman has also been giving lectures on his management philosophies, corporations' social responsibility and other subjects. Hyungji opened a training center in Seoul in January to provide shop owners selling Hyungji brand projects with a wide range of educational programs such as store management.
Choi founded Hyungji in 1996 and faced severe difficulties in the following years as Korea was hit by the Asian financial crisis.
The company launched its first women's casual apparel brand, Crocodile Ladies, and successfully formed a casual apparel market targeting women aged 30 to 50. Hyungji quickly became a mainstream fashion brand for women.
It then has expanded its business scope to men's clothes and outdoor wear.
The company has also advanced into fashion mall business, becoming one of Korea's largest comprehensive fashion logistics firm.
Its 1,600 stores across the nation deal with 13 separate brands for women's clothes, men's wear and outdoor clothes.