Poongsan Group Chairman Ryu Jin Selected as New Chairman of KEA

Ryu Jin, chairman of Poongsan Group, who shed his nickname as a 'reclusive manager' to be elected as the new chairman of the Korea Enterprise Association (KEA), is currently simultaneously performing the role of the business community's spokesperson and the duties of managing a defense company in 2026.

Chairman Ryu Jin was born on March 5, 1958, in Andong, North Gyeongsang Province, as the son of the late Chairman Ryu Chan-woo of Poongsan Group. After graduating from the American School in Japan and the Department of English Language and Literature at Seoul National University, he completed an MBA program at the Tuck School of Business at Dartmouth College in the U.S. After joining Poongsan Metal Industries and serving as vice president, he rose to CEO and president in 1996 and took office as CEO and chairman of the holding company Poongsan Holdings in 2008.

Based on his sophisticated international sense and political and business networks, Chairman Ryu Jin has engaged in external activities such as vice chairman of the Korean Mecenat Association, chairman of the Korea-U.S. Business Council at the Federation of Korean Industries, and chairman of the Seoul International Forum, demonstrating his aspect as a 'spokesperson for the business community.'

Hyundai Rotem and Hanwha Aerospace are currently reviewing a plan to mount the 'MCD-7S,' a combat drone developed by Poongsan, on the next-generation tank (K-3) and the manned-unmanned complex armored vehicle (K-NIFV), which are currently being developed with the goal of trial operation between 2028 and 2029.

In the first quarter of 2026, Poongsan recorded consolidated revenue of 1.2709 trillion won and an operating profit of 90.2 billion won. However, the company is facing difficulties, such as a 23% year-on-year decrease in defense sales due to delays in acceptance tests and transportation restrictions in the Middle East following the U.S.-Iran war.