In order to strengthen tourism and retail business, Hyundai Asan appointed Chang Kyung Chak, former president and CEO of the Lotte Group's hotel management division, as a new president and CEO at a general shareholders’ meeting on March 24th.

Mr. Chang, having previously served as vice president of Shinsegae Department Store, head of Chosun Hotel and president and CEO of the Lotte Hotel, is a veteran in the tourism and retail business.