Samsung C&T Corp., the construction and trading arm of South Korea’s largest conglomerate Samsung Group, on Tuesday replaced top executives of its core businesses with younger generation leaders in their 50s.

Samsung C&T promoted executive vice presidents Lee Young-ho of its engineering and construction group and Koh Jung-suk of its trading and investment group to presidents, and executive vice president Chung Keum-yong as head of the resort group and chief executive of Samsung Welstory subsidiary.

The promotion comes after the three divisions’ former presidents Choi Chi-hun, Kim Shin, and Kim Bong-yung expressed to step down claiming “time has come for the next generation of leaders to take on greater responsibilities,” according to the company.

The latest reshuffle of top executives at Samsung C&T, also the de facto holding company of Samsung Group, is in line with the group’s urge for a shift in the generation of leaders to focus on performance.

All three former presidents were born in 1957 - aged in their early 60s - while incoming heads Lee, Koh, and Chung are in their late 50s.

Lee is a financial expert with diverse experience in various fields. He served as head of management planning division and audit at Samsung SDI Co. and led the management diagnostic team at Future Strategy Office. Lee is credited for having developed Samsung C&T’s global business capacity and helping drive the company’s expansion and growth while serving as chief financial officer and head of corporate management of the engineering and construction group.

Koh, a commodity trading specialist, had led Samsung C&T’s trading and investment group’s chemicals team and chemicals and industrial materials division. He has been heading the group’s planning team since 2016, playing the role of setting strategic directions.

Chung is a human resources specialist that has carried out important tasks at Samsung Electronics Co. and Samsung Future Strategy Office. Since last year, he has been leading overall business operations of Samsung Welstory where he will continue to double the role.

“The newly appointed heads of the business groups have served in important operational roles within the company and have proven track records within their respective fields,” Samsung C&T said.

By Hwang Hyung-gyu and Lee Eun-joo

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