Ssangyong appoints Byung-tae Yea as its new CEO

SsangYong Motor Company, part of the Mahindra Group, has appointed the incumbent Chief Operating Officer, Byung-tae Yea, as its new Chief Executive Officer (CEO).

Mr Yea has had a lengthy career in the automotive industry, starting with the Hyundai Motor Company in 1982. He has held the position of President - Marketing & Product at Hyundai-Kia Motors in its regional offices in Asia, the Middle East and in Europe, and he was also vice-president and Head of Hyundai Commercial Vehicles. Mr Yea joined SsangYong Motor Company in 2018 and has been serving as vice-president of Marketing and Chief Operating Officer.

The new CEO plans to expand SsangYong’s domestic sales and to pursue diversification of the overseas market. Commenting on this appointment, Dr Pawan Kumar Goenka, chairman of the SsangYong Motors Board of Directors said, "The SsangYong Motors board is delighted to welcome Mr Yea to the family and believes that his rich and varied knowledge of product, marketing and exports will continue to build the legacy of SsangYong Motors as the most respected Korean automotive company."

Expressing the importance of continuous improvement of product planning and design, flexible thinking, quick application and execution of new ideas, Mr Yea commented: “We will attract more customers by launching competitive products such as the Tivoli and Korando, writing a new success story that is growing one step further. I will make every effort to transform SsangYong Motors into a small but strong company with our unique attraction, as well as to solidify the company’s position as a global SUV automaker by strengthening the partnership between Mahindra and Mahindra and SsangYong.”