KOREA WHO
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CEO of Cheryong Electric
Park Jong-tae
Second-Generation Leader with 40 Years in Power Equipment Industry Achieves KRW 200 Billion in Sales through Export Growth
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Last Updated on Dec 10, 2024
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CEO of Cheryong Electric
Life Summary
Park Jong-tae is the CEO of Cheryong Electric. He also serves as the CEO of its affiliate, Cheryong Industrial.
He focuses on securing orders to meet the rising demand for transformers in the North American market.
Born on November 15, 1957, in Mungyeong, Gyeongsangbuk-do, Park graduated from Yongmun High School in Seoul and later earned a degree in Craft Design from Seoul Institute of Technology.
After working at companies such as KEPCO Chemicals and Daeboong Electric Wire, he served as CEO of “Sale Trading.”
In 1994, Park became the CEO of Cheryong Electric, and in 2011, he took on the role of CEO at the newly established Cheryong Industrial following a corporate spin-off.
As a second-generation business leader, he has led a specialized heavy electrical equipment company for 40 years.
Park values technological innovation. He spearheaded the development and commercialization of high-efficiency earthquake-resistant molded transformers, earthquake-resistant gas-insulated switchgear (GIS), and amorphous transformers.
He is also dedicated to developing eco-friendly products, such as “toxic substance-reducing molded transformers.”
Park possesses excellent foresight in capturing opportunities. He anticipated that the U.S. Inflation Reduction Act and the increase in electric vehicle production would drive investments in power infrastructure, leading to transformer shortages.
By focusing on the U.S. transformer market, he successfully elevated Cheryong Electric into a mid-sized company with revenues surpassing KRW 200 billion (US$ 144.3 million).
#ParkJongTae #CheryongElectric #CheryongIndustrial #TransformerMarket #TechnologicalInnovation #EcoFriendlyProducts #NorthAmericaMarket #ElectricVehicles #PowerInfrastructure #InflationReductionAct
He focuses on securing orders to meet the rising demand for transformers in the North American market.
Born on November 15, 1957, in Mungyeong, Gyeongsangbuk-do, Park graduated from Yongmun High School in Seoul and later earned a degree in Craft Design from Seoul Institute of Technology.
After working at companies such as KEPCO Chemicals and Daeboong Electric Wire, he served as CEO of “Sale Trading.”
In 1994, Park became the CEO of Cheryong Electric, and in 2011, he took on the role of CEO at the newly established Cheryong Industrial following a corporate spin-off.
As a second-generation business leader, he has led a specialized heavy electrical equipment company for 40 years.
Park values technological innovation. He spearheaded the development and commercialization of high-efficiency earthquake-resistant molded transformers, earthquake-resistant gas-insulated switchgear (GIS), and amorphous transformers.
He is also dedicated to developing eco-friendly products, such as “toxic substance-reducing molded transformers.”
Park possesses excellent foresight in capturing opportunities. He anticipated that the U.S. Inflation Reduction Act and the increase in electric vehicle production would drive investments in power infrastructure, leading to transformer shortages.
By focusing on the U.S. transformer market, he successfully elevated Cheryong Electric into a mid-sized company with revenues surpassing KRW 200 billion (US$ 144.3 million).
#ParkJongTae #CheryongElectric #CheryongIndustrial #TransformerMarket #TechnologicalInnovation #EcoFriendlyProducts #NorthAmericaMarket #ElectricVehicles #PowerInfrastructure #InflationReductionAct