Interview with Mr. Young Cheul Cho, Hyundai Heavy Industry


Mr. Cho, CFO of Hyundai Heavy Industry, located in South Korea, explains the relationship between his group and Societe Generale. But above all the synergies created by this long-term partnership based on real trust between the shipbuilding group and the Bank.

I started business relationship with Societe Generale in 2013 when I was, at that time, the CFO of Hyundai Oilbank (a key subsidiary of HHI group). Since then, the business between our 2 groups did expand to the overseas activities of Hunday Oilbank, helping to build up a strong credibility between our two parties.

When I was transferred to HHI (Shipbuilding industry) in 2014 to take my current CFO role, my counterpart in Societe Generale did continue to engage me to see how Societe Generale could support our company in the difficult time our industry is facing. Always looking for solutions, Societe Generale has been at all times listening to our needs and do its best to support us, as only a relationship driven bank can do. I understand one of Societe Generale motto is to be a long-term relationship bank and I am looking forward to it with our Group.

Societe Generale teams have a strong expertise and can therefore provide adequate services to my company. Also, from my various interactions with the Societe Generale Korea team, I can feel Societe Generale strong culture and team spirit at work. Societe Generale is definitely a relationship and commited-driven bank, and therefore differentiates itself from its competitors. I trust this will allow Societe Generale Korea to even further develop its activities in the Korean market.

Hyundai Heavy Industry at a Glance

Hyundai Heavy Industries (HHI), founded by the late Chung Ju-yung on March 23, 1972 wrote the first chapter of its shipbuilding history in June, 1974 by completing construction of the world's largest shipyard and two 260,000-DWT VLCCs all at the same time. A decade after its first delivery, the Hyundai Shipyard has maintained the leading position in the world shipbuilding market ever since. Hyundai Shipyard's drive has mirrored the growth of modern Korean heavy industry, and its success has allowed them to expand into other heavy industry areas. HHI has also engaged in other heavy industries such as offshore & engineering, engines & machinery, construction equipment, electro electric systems and industrial plant & engineering where it has strong market position in the global market.