BMW Korea chief Kim Hyo-joon was elected as the new chairman of the Korean-German Chamber of Commerce and Industry, according to the organization on Thursday. 

He is succeeding Kim Jong-kap, former CEO of Siemens, who was recently elected as President of Korea Electric Power Corporation.

The KGCCI is now run by two co-chairmen, Ingrid Drechsel, president of Bayer Korea, for the German side and newly elected Kim for the Korean side.

In his acceptance speech, Kim said, “I will do my best to build a market environment that will lead to an efficient and successful business of Korean and German companies in both countries.”

He also said he will continue to search for solutions of social mobility that will transform economic values created by companies through initiatives such as the KGCCI Ausbildung program into social values.

By Shin Ji-hye (shinjh@heraldcorp.com)