Hana Tour has named Cho Jwa-jin, former chief executive of Lotte Card, as its new CEO, and will pursue a medium- to long-term growth strategy centered on premium travel, inbound tourism and artificial intelligence (AI).
Hana Tour said Wednesday that Cho will be formally appointed following an extraordinary shareholders' meeting on the 18th of next month.
Along with the CEO change, Hana Tour will introduce an executive officer system. The board plans to focus on strategic decision-making and management oversight, while clarifying the responsibilities and authority of executive officers to improve management efficiency.
Cho graduated from Seoul National University with a degree in economics and has worked in strategy, marketing and management for about 35 years. After working at A.T. Kearney and Monitor Group, he served as the first head of Oliver Wyman's Seoul office. He held the positions of head of the strategy and finance division and head of the marketing division at Hyundai Card, Hyundai Capital and Hyundai Commercial. He later served as CEO of Hyundai Capital America and CEO of Lotte Card.
During his tenure as Lotte Card CEO, he restructured the company's asset portfolio, improved its cost structure, and pursued a data-driven digital strategy called "Digi-LOCA." At Hyundai Card, he led premium brand strategies, including the launch of "Hyundai Card Black." As CEO of Hyundai Capital America, he led the U.S. subsidiary and participated in expansion into Canada and Brazil.
With Cho's appointment, Hana Tour will fully pursue its future growth strategy, "Hana Tour Chapter 2." The company has set three growth pillars: expanding the premium travel market, developing its inbound business, and driving AI-based digital innovation.
In premium travel, the company will strengthen products tailored to customers' preferences and purposes, as well as pre- and post-trip services. Its inbound business plans to expand travel services for visitors to Korea, centered on Japan and Southeast Asia. AI and data will be used across the business, including consultation, product planning and marketing, to improve operational efficiency and profitability.
"Cho is a professional manager who has driven innovation and growth across various industries," a Hana Tour official said. "We concluded he is the right person to build a new growth foundation at a time when the travel industry is rapidly being reshaped."
