[The Editors' Verdict] Chaebols and the Heart of a Father

"When I came of age, I realized I was the child who would inherit Samsung. I believe my child should live differently."

This was a story I heard while having a cup of tea with Samsung Electronics Chairman Lee Jae-yong in 2015. I asked if it was true. "I have neither the intention nor the ability to pass it on. The first generation of founders can pass it to the second generation. But to hand it down to the third or fourth generation requires too much effort. If I have time, effort, and money, I will use it for the company's development." I could not write an article about this. It was a non-reporting meeting, in other words, a meeting where what was heard was agreed not to be published. As time passed, in 2020, Chairman Lee gathered reporters and officially announced, "I will end the controversy over succession of management rights," and said, "I do not intend to pass the company's management rights to my children." The child who was to inherit Samsung was probably not happy. During middle and high school, Chairman Lee toured Samsung business sites nationwide, holding hands with Samsung employees. People whispered when they saw him, saying, 'That's the child.' If that life had been happy, he would not have decided not to pass it on to his child. The way the head of Korea's top corporate group expresses love for his child is by not passing that position on to them.

"The child's fingernails are black underneath. If the photo is published, we will have to assign bodyguards."

This was said by Nexon founder Kim Jung-ju in 2011, right after the company was listed in Japan, while looking at his daughter standing beside him. Kim, who was famous for refusing interviews, was approached by me without prior notice, and we walked together for about three hours while talking and taking photos. There was a long back-and-forth about wanting to write an interview for the newspaper, but he finally reluctantly agreed with one condition: "Please do not publish photos of the child." At that time, Kim's family lived in Jeju Island. The child played in the schoolyard every day, getting her hands dirty with soil. People around her did not realize she was the daughter of one of Korea's richest people. She came home every day with dirt under her fingernails. That was her father's pride and love. He said that if photos were published, the child would lose the right to play freely. Kim Jung-ju's way of expressing love for his daughter was to keep it hidden from the world so she could enjoy her freedom. Even after Kim passed away, his will remains unchanged, protecting his child. Recently, news appeared on newspapers and TV that Kim's two daughters were the youngest billionaires selected by Forbes, a business magazine. However, their faces were not shown in the news. The company, respecting the founder's wishes, did not disclose them.

There are also corporate heads whose ways of expressing love for their children are extremely different. A representative example is the father and daughter of Ottogi, Chairman Ham Young-jun and his daughter. The daughter is a musical actress and YouTuber. Occasionally, they upload videos together on YouTube. Chairman Ham's eyes seemed to drip with affection when looking at his daughter. He wants others to see his daughter as well.

All parents' hearts are similar. They want their children to grow well and be happy. However, the ways of showing love differ slightly. There is no single correct way to say. Sometimes, when looking at the internet, there are comments that painfully hurt parents' hearts to an extreme degree. Perhaps matters between parents and children should be viewed with a more generous heart.

Baek Gang-nyeong, Head of Industrial IT Department