November 23, 2024

• 

[THE INVESTOR] James Kim will step down as CEO and president of GM Korea effective as of Aug. 31, to take on an expanded role with a US business lobby group in Korea, the local unit of the US General Motors said on July 3. 

Kim, 55, will fully engage in the American Chamber of Commerce in Korea as chairman and CEO, according to the carmaker. 

“We thank Jim for his contributions to GM Korea over the past two years,” said Stefan Jacob, GM executive vice president and president of GM International, in a statement. “He has been a tireless promoter of our company. Jim has driven domestic sales, helped build the equity of our brands, and reached out to our customers in new and innovative ways.”

James Kim, CEO of GM Korea

The carmaker hasn’t announced Kim’s successor yet, adding it will be decided later. 

“Given the transformative phase for both Korea and the US., the role of AMCHAM as a bridge-builder between the two countries has grown significantly,” said Jeffrey Jones, former chairman of AMCHAM and foundation chairman of Partners for the Future, who headed the search committee. “After an extensive search, we have concluded that Mr. Kim is uniquely positioned, as a Korean American, to take AMCHAM to a complete new level. During his four years as chairman, James has demonstrated solid leadership involving the ecosystems of both the United States and Korea.”

Kim joined GM Korea in June 2015 as chief operating officer and was promoted to CEO in January 2016. Starting Sept. 1, he will serve as an advisor to GM Korea. Prior to his GM Korea tenure, he led Microsoft Korea and Yahoo Korea. 

The resignation comes as GM Korea suffers a sales decline due to weak demand at both home and overseas. For the past three years, the carmaker posted nearly 2 trillion won (US$ 1.74 billion) in losses. GM Korea’s overall sales fell 21 percent in June when it sold 43,692 vehicles, down from 55,077 units last year.

By Ahn Sung-mi (sahn@heraldcorp.com)