Hyundai Heavy Industries announced that it promoted Lee Jae-sung, from CEO to chairman. HHI said the promotion was mostly aimed at guaranteeing management independency. The position became vacant after former chairman Min Kye-shik left the shipbuilder in December 2011.

President Kim Oe-hyun will be in charge of shipbuilding, marine and plant businesses. Kim Jeong-rae, will move to take charge of the firm's engine, electronics, green energy and construction equipment businesses.