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Park Yongman Leaving Doosan Group with Two Sons... "All Three Generations Independent, Will Care More for Those in the Shadows" (Update)

Expressing Gratitude and More Toward Children on SNS

Park Yongman Leaving Doosan Group with Two Sons... "All Three Generations Independent, Will Care More for Those in the Shadows" (Update) Former Chairman of the Korea Chamber of Commerce and Industry Park Yong-man Leaving Doosan Group
[Image Source=Yonhap News]

[Asia Economy Reporter Kim Heung-soon] Park Yong-man, former chairman of the Korea Chamber of Commerce and Industry and the fifth son of the late Park Doo-byung, the founding chairman of Doosan Group, is resigning as chairman of the Doosan Management Research Institute and leaving the group. His two sons are also stepping down from their executive positions and retiring.


On the 10th, Doosan Group announced, "Park Yong-man, chairman of the Doosan Management Research Institute, is resigning from his position as chairman." They also stated, "Park Seo-won, vice president of Oricom, and Park Jae-won, managing director of Doosan Heavy Industries & Construction, have informed us that they are stepping down from their executive roles in the group to pursue careers aligned with their areas of expertise."


On the same day, Park Yong-man wrote on his social media service (SNS), "Both of my sons said they want to become independent. No matter how much children grow up and become adults, as a parent, there is always an obsession to advise and teach them, and a sense of overprotectiveness plays a part. However, both just want to become independent, find their own offices, and do their own work. The first feeling that came to mind was gratitude rather than any other emotion. And with that gratitude, I was able to suppress my overprotectiveness."


He added, "After all, children’s careers are something they build themselves, so as a parent, my role ends here. Now, I need to encourage and watch over them well, and at the same time, I think I must handle the changes in myself as I face my children’s independence."


He also shared his feelings about leaving Doosan Group. Park said, "As I declared at the beginning of the year, I have decided to leave all positions in the group. I have long since stepped away from the group’s practical management and will now leave even the symbolic positions I held." He emphasized, "Now that I am leaving Doosan, I am also becoming independent. From now on, I plan to take better care of those in the shadows and live doing good for society. So, all three of us?father and two sons?are becoming independent in our own ways."


Doosan Group explained, "Since the sale of Doosan Infracore, Park Yong-man has continuously stated that he would resign from all positions in the group. He has not been involved in practical management since the sale, and his resignation is a natural conclusion following the completion of the sale." They added, "Vice President Park and Managing Director Park conveyed that their decision is to find work suited to their respective areas of expertise and become independent."


A Doosan Group official said, "Park Yong-man will step down from frontline management and focus on contributing to society through the foundation 'Walking Together,' where he serves as chairman, engaging in community service and relief efforts for marginalized groups." The official also explained, "Vice President Park Seo-won, who has established himself as an expert and influencer in the creative content field, is already involved in nurturing many promising companies in the related industry and plans to expand these businesses in earnest."


Managing Director Park Jae-won is expected to intensify his startup investment activities. Previously, while working at Doosan Infracore, he led the establishment of a venture capital firm in Silicon Valley, USA, for startup investments, demonstrating his interest and capability in related businesses.


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