From left: Kwon, Oh-gap, chairman of HD Hyundai, and Park, Jung-woon, president of Hankuk University of Foreign Studies [Provided by Hankuk University of Foreign Studies]
HD Hyundai Chairman Kwon, Oh-gap looks on during the honorary doctor of business administration degree ceremony at the International Center.
[Courtesy of Hankuk University of Foreign Studies]
HD Hyundai Heavy Industries Chairman Kwon, Oh-Gap(73) received an honorary doctorate of business administration from Hankuk University of Foreign Studies on Friday morning.
As Kwon is the year 1971 graduate of the university's Portuguese department, it is especially meaningful that he received the 100th honorary doctorate on the occasion of the 70th anniversary of Hankuk University of Foreign Studies.
Honorary doctorates at HUFS are known for their high standards. Of the 99 recipients of honorary doctorates prior to Kwon, 66 were foreigners, including foreign heads of state who visited Korea, and only 33 were Koreans. Of those, only eight were alumni of KU.
Chairman Kwon is the 100th honorary doctorate recipient, the 34th Korean, and the ninth alumnus of HUFS.
"In the past, a foreign president wanted to receive an honorary doctorate from Hankuk University of Foreign Studies, but we refused because his policies on human rights had caused international controversy", said Park, Jung-woon, president of Hankuk University of Foreign Studies, in his congratulatory remarks. "Hankuk University of Foreign Studies awards honorary doctorates based on the recipient's contributions to society rather than their social status."
After graduating from college and serving as an officer in the Marine Corps, Kwon joined HHI in 1978 and worked for the company for 46 years, rising to the position of chairman.
"There have been rumors that I or my wife are related to the majority shareholder family of HD HHI, but this is not true at all", Kwon said in his commemorative speech.
Speaking about how he rose to the position of chairman after joining the company as a rank-and-file employee, Kwon said, "I never broke the simple principles that I set for myself: to be the same on the outside and inside, to never deceive others, and to put my heart and soul into the work I was given."
He also said he did his best to maintain a "horizontal relationship" with his employees. "When a department head talks about a subordinate, I'll hear him say, 'The ection chief head I have,' and I'll correct him and say, 'The people I work with. I think that's why I have a department head, because I have a section chief - I only make the decisions, but we work together".
Chairman Kwon, who has worked in large corporations his entire career, said his worldview is "a balance of left and right. "The logic of corporations and capital is important, but it's also important for the side that keeps them in check to develop sound", he said, adding that he has personally supported civil organizations that keep large corporations in check for more than 20 years.
Kwon's natural physical strength and fitness have also been a big asset in his career. "Thanks to my parents, who passed on their healthy bodies to me, I have been able to work tirelessly for many years," he says, adding that he still runs a couple of 10-kilometer marathons every year in his 70s.
More than 200 people attended the degree conferral ceremony, which was held at the International Center of Hankuk University of Foreign Studies in Seoul, including Hankuk University of Foreign Studies President Park, Jung-woon, Ulsan National University President Oh, Yeon-chun, and former Minister of Education Kim, Do-yeon.
"We decided to confer this degree in recognition of Chairman Kwon's significant contributions to national economic development through securing corporate competitiveness as a top executive, practicing social responsibility, and spreading a culture of sharing," said Park, Jung-woon, president of Hankuk University of Foreign Studies.
Since joining HD HHI in 1978, Mr. Kwon has served as chief of the Seoul Office, CEO of HD Oil Bank, and CEO of HD HHI, building HD Hyundai into a global, technology-driven, integrated heavy engineering group.
In 2014, when the shipbuilding industry was struggling, he took over as president of HD HHI and implemented intense reforms to turn the company profitable within two years, and in 2017, he established a transparent corporate governance structure by transforming the company into a holding company.
Since taking over as chairman of HD Hyundai in November 2019, he has laid the foundation for business expansion by building a business portfolio consisting of three core pillars: shipbuilding, energy, and construction machinery. As a result, HD Hyundai has grown to KRW 61.313 trillion in sales and KRW 2.316 trillion in sales profit by 2023, and its market value has increased fivefold from KRW 10.1 trillion at the end of 2014 to KRW 50.1 trillion as of May 10, 2024.
In 2011, Chairman Kwon led the establishment of the HD Hyundai 1% Sharing Foundation, the first Korean conglomerate to donate 1% of its employees' salaries, and in February, he personally contributed KRW 100 million to establish the 'HD Hyundai Hope Foundation' to support the bereaved families of victims of major disasters.
In recognition of his contributions, Mr. Kwon was inducted into the Korea Business Hall of Fame in 2021, the first professional businessman to be inducted into the Hall of Fame, and was awarded the Gold Tower Industrial Medal on Commerce and Industry Day in 2023.
At the degree ceremony, chairman Kwon said, "I am honored to receive an honorary doctorate from my alma mater, Hankuk University of Foreign Studies", and added, "I will continue to do my best to contribute to the economic development and social integration of Korea with my sense of mission and principles as a business leader."
By Chung, Goo-hak
ghchung@naver.com
저작권자 ⓒ 비즈체크, 무단 전재 및 재배포 금지