Hyundai Heavy Industries named Kwon Oh-gap, the chief executive of Hyundai Oilbank, as its new CEO amid lackluster earnings and labor disputes. Hyundai Heavy Industries is in a dispute with its labor union over pay and incentives. This is the first time the company has failed to reach a compromise with the union since 1995.

Kwon is expected to concentrate most on reforming Hyundai Heavy's management system.