Global Sae-A promotes Kim Ki-myung to senior vice chairman in September reshuffle

Global Sae-A Group has promoted Kim Ki-myung, CEO and vice chairman of Global Sae-A, to group senior vice chairman, placing an executive with deep M&A, finance and planning experience at the forefront as the conglomerate restructures its paper business and works to improve profitability across affiliates.

The group announced Monday that the promotion takes effect Tuesday, with Kim assuming the title of CEO and senior vice chairman of Global Sae-A.

Kim previously served as head of Walmart Korea and CEO of Choesin Mulsan before joining Global Sae-A Group in 2007 as CEO of In the F. He subsequently held roles including head of Sae-A Trading's US operations, CEO of Global Sae-A, CEO of Ssangyong E&C and group vice chairman.

Having overseen M&A, planning, finance, marketing and human resources across the group, Kim is expected to focus after his promotion on improving affiliate profitability and managing the group's business portfolio.

Shim Cheol-sik, who leads the paper division as CEO of Jeonju Paper and Jeonju One Power, will be promoted to vice chairman of both companies and of the paper division.

Shim joined Sae-A Trading, the group's parent company, in 1995 and went on to serve as executive vice president for management support at Tailim Paper, executive vice president for management support at Ssangyong E&C, and CEO of Global Sae-A. Since taking over as president of the group's paper division last year, he has pursued workforce exchanges among affiliates, cost-structure improvements and production specialization.

The paper business has been on an improving profitability trend. Cumulative sales at paper affiliates — Tailim Paper, Tailim Packaging and Jeonju Paper — and related subsidiaries reached 904 billion won ($657 million) for the January–May period this year, up about 7 percent from the same period last year, while operating profit more than doubled to 73 billion won. The group projects full-year operating profit from its paper-related affiliates at between 190 billion and 200 billion won this year.

Global Sae-A acquired Jeonju Paper and Jeonju One Power in 2024 and has since pursued a restructuring of its paper business in conjunction with existing affiliates Tailim Paper and Tailim Packaging. The group has been cutting costs and improving production efficiency through adjustments to Jeonju Paper's product mix, joint purchasing among affiliates and integration of logistics networks.

Lee Taek-jun, executive vice president in charge of group M&A at Global Sae-A, will be promoted to senior executive vice president. Yeo Sang-gu, who oversaw management support at Tailim Paper and Tailim Packaging, will move to a management support role at Sae-A Trading.