Mexico Cuts 2025 Growth Forecast Amid Recession Concerns 
Shell Sells $1.45B Stake in Colonial Pipeline Operator to Brookfield Infrastructure 
NLRB Halts Apple Cases Following Trump’s Nomination of Apple-Linked Lawyer 
Walmart Pressures Chinese Suppliers to Cut Prices Amid Tariff Impact 
Tesla Faces Sales Slump Amid Brand Damage and Political Controversy 
South Korea Scrambles to Mitigate Impact of Harsh U.S. Tariffs on Exports 
Volvo Car Sales Drop 10% in March as EV Demand Weakens 
Nissan Halts U.S. Orders for Infiniti SUVs Amid Trump Tariffs 
Mitsubishi to Invest $27B Over Three Years, Targets $8B Profit by FY2027 
Indian Rupee Eyes US Tariff Move as Bond Yields Slide Ahead of RBI Policy 
U.S. Imposes 26% Tariff on Indian Imports, Spares Pharma Sector 
Taiwan Criticizes New U.S. Tariffs, Cites Impact of Tech Curbs on China 
Hyundai Rules Out U.S. Price Hike Despite New Tariffs 
Apple Faces Margin Pressure Amid Trump’s China and India Tariffs 
GSK and Pfizer Drop RSV Vaccine Patent Lawsuit 
How Jeffrey Fratarcangeli Attracts and Retains Clients 
Hanssem Co. Ltd., a Korea-based company that makes and sells home furniture, just replaced its chief executive officer to improve the company's performance. It appointed Eugene Kim to lead the group and work on increasing profitability so Hanssem could bounce back.
A company official confirmed this week that Hanssem has a new CEO. The company has to find a new chief as it continues to have difficulties in staying in the game. It was noted that Hanssem had to let go of Kim Jin Tae just a year after he took over the office as chief.
Hanssem determined that it needed someone to rescue the company that was facing a decline thus, it decided to hire a new CEO who can help the firm better. According to The Korea Times, one of the main reasons for the executive change is the CEO’s failure to improve sales despite his efforts.
While Kim Jin Tae worked hard to revive Hanssem, the firm continued to lose money instead. Hanssem published its first annual operating loss since its local stock market listing in 2022. This turned into a deficit, with the furniture maker posting an operating loss of KRW21.7 billion or about $16.82 million on a consolidated basis.
"The domestic interior market has been downsized due to a sharp drop in house sales. At the same time, the costs incurred in the process of pursuing a remodeling business strategy increase,” Lee Eun Sang, a researcher at NH Investment & Securities, commented on Hanssem’s situation. "It is difficult for house sales to recover in a short period of time, so it will take some more time for the company to improve profitability."
Meanwhile, Pulse News reported that Hanssem’s new CEO is a computer science graduate of the Korea Advanced Institute of Science and Technology (KAIST), a popular national research university in South Korea. Eugene Kim also earned his master’s degree from another prestigious school in the country - Seoul National University‘s Graduate School of Business. Prior to her appointment at Hanssem, she worked at the Boston Consulting Group, Inc. and IMM Private Equity.
Photo by: Hanssem Co. Website
