NEW YORK, June 5, 2012 (GLOBE NEWSWIRE) -- AlixPartners, the global business-advisory firm, today announced that the broad-based business-transformation expert Yung H. Chung has joined AlixPartners as managing director. Chung, who will be based in Seoul, South Korea, has more than 25 years of experience working across Asia, North America and Europe helping companies build their businesses and improve their profitability. He joins AlixPartners from McKinsey & Co., where he was a senior partner, specializing in corporate growth strategies, M &A advisory and technology enablement for leading companies globally.
Said Fred Crawford, CEO of AlixPartners: "Asia is AlixPartners' fastest-growing market, as more and more companies, owners, financial sponsors and attorneys in the region are discovering our unique, high-impact approach to helping them succeed. This is especially important as the various economies in Asia face dramatic challenges, which can differ greatly country to country. The addition of Yung Chung, who brings deep experience in numerous industries, continues the rapid acceleration of our capabilities in the region."
Said C.V. Ramachandran, head of the Asia Business Unit at AlixPartners: "Throughout Asia, AlixPartners' results orientation make our firm the perfect partner for clients looking for fast, meaningful and lasting improvements. This is especially evident when we are helping clients through holistic business turnarounds -- ones that include a customized mix of financial restructuring, operational improvements and, if needed, interim management.
"In Korea, AlixPartners has worked for both MNCs and Korean companies for several years. With the hiring of Yung Chung, our ability to serve clients in this market grows dramatically. Yung's deep background across multiple geographies and with large-scale multinational teams in the areas of business transformation and technology will be of great benefit to any company or owner who wants to take full advantage of business opportunities in Korea, the rest of Asia and elsewhere in the world."
Chung, who joined McKinsey in 2007, was also client services leader for that firm in South Korea. He served local and multinational companies in such sectors as high-tech, automotive, aerospace & defense, clean-tech, heavy industries and information and communications technology, among others.
Prior to McKinsey, he spent 13 years at A.T. Kearney, most recently as managing director of that firm's Korea operations and leader of its Asia operations practice. In those positions, he managed a unit of more than 80 professionals, and led client engagements across Asia, Europe and North America, including major business-transformation, cross-border M &A and joint-venture and alliance work, as well as work for private-equity clients. His career at A.T. Kearney also included six years in Los Angeles and London, where he was a partner in the operations practice for Europe.
Before A.T. Kearney, Chung was with Booz Allen Hamilton, most recently as a senior associate. In his last four years there, he was based in Italy leading the design and commissioning of state-of-the-art factories. He also worked as a core member of that firm's European operations strategy practice and, before that, he was based in Los Angeles and Washington, D.C.
Chung began his professional career as an R &D engineer at Northrop Corp. (now Northrop Grumman Corp.) in Los Angeles, where he worked on advanced manufacturing technologies related to the B-2 Stealth Bomber.
A frequent public speaker and the contributor to several books and papers, Chung has a bachelor's degree in mechanical engineering from Carnegie Mellon University in Pittsburgh, Penn., and also completed the executive business management program at the Kellogg Graduate School of Management at Northwestern University in Chicago. He also did graduate work at the University of California-Los Angeles (UCLA) and at the University of Maryland. He is fluent in Korean and English.
AlixPartners LLP is a global business-advisory firm offering comprehensive services in four major areas: enterprise improvement, turnaround and restructuring, financial-advisory services and information-management services. Founded in 1981, the firm has offices around the world, and can be found on the Web at www.alixpartners.com.
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