[Changing the World M]④ Beyond the 86 Generation, the M Generation Creating a 'Power Reversal'... "Leading Korea's Future"

Digital Transformation Trend, 'Generational Power Reversal' with M Generation
Refresh and Saebyeon 3040 Groups Bring New Social Breeze
Focus on Life, Not Politics, Unlike KCTU and Minbyun
When M Generation Becomes Leaders, Society and Organizational Culture Will Change More

The millennial (M) generation, born between 1980 and 1996, is replacing the older generation known as the 86 generation. As they grow into their 30s and 40s, the M generation is gaining attention as key workers or middle managers in companies, innovative entrepreneurs in industries, and core consumer groups leading market trends. Recently, in labor and legal circles, the M generation is emerging as a driving force behind new changes, distinct from established power groups such as the Korean Confederation of Trade Unions and the Lawyers for a Democratic Society (Minbyun).

It is natural for younger generations to replace older ones over time. Also, even within the same generation, individuals have diverse tendencies, making it difficult to generalize the M generation with a few characteristics. However, experts analyze that there is something special about the M generation. Having been exposed to computers, the internet, and mobile devices from a young age, they are digitally proficient, which has led to a 'power reversal' between previous generations and the M generation amid the massive wave of digital transformation.

The M Generation Leading Korea's Future... Created a 'Power Reversal'

According to a panel survey conducted by Asia Economy through the polling agency Embrain from the 31st of last month to the 5th of this month, targeting 1,000 adults aged 20 to 69 nationwide, when asked which generation will lead Korean society after the 586 generation, 46.28% chose the 'M generation,' the highest proportion. Older adults born before 1960, the 586 generation, Generation X, and the M generation all selected the 'M generation,' and Generation Z also chose 'M generation' (28.4%) following their own generation (59.8%). Although interest in the 'Jalpa generation,' combining Generation Z and Alpha generation, is growing recently, the M generation still plays a central role in reality.

Professor Eunhyung Lee of the Department of Business Administration at Kookmin University, author of How to Work with Millennials, explained in an interview with Asia Economy, "The M generation has a distinct characteristic that sets them apart from previous generations: they are digital natives. Growing up in a digital world that grants individuals decision-making power, they want to have 'decision-making authority' and resist simply following orders." The M generation is accustomed to the horizontal relationships and communication typical of digital culture and finds it difficult to endure the vertical, rank-based culture.

Professor Lee said, "As digital transformation deepens, older generations struggle to adapt, but the M generation has no difficulty at all. That is why a power reversal occurs." In the past, experience and age preserved the authority of seniors, but in the current digital transformation era, maintaining senior authority is difficult. This is why the younger and less socially experienced M generation can advance faster than older generations in various fields.

Refreshing and New Changes... The M Generation Shaking the 'Framework'

In fact, the M generation actively shows a willingness to drive social change and innovation. As they enter their 30s and 40s, meaningful changes are appearing in various social sectors. The Refreshing Workers' Council, which is challenging the labor union structure centered on the Korean Confederation of Trade Unions and the Federation of Korean Trade Unions that led Korea's labor movement through the 1987 workers' great struggle and the 1997 financial crisis, is a representative example. Also known as the 'MZ Union,' Refreshing was launched in February this year and has surpassed 8,000 members in just over four months, gradually establishing itself as an alternative to the two major unions.

Currently, 13 unions, including LG Electronics' People-Centered Office Workers Union and Seoul Metro's Proper Union, are members of Refreshing. Among the 13 union chairpersons, 10 are in their 30s. The chairperson of Refreshing, Yujunhwan, who is also the chair of LG Electronics' People-Centered Office Workers Union, is only 33 years old. Although these unions are still far smaller than the two major unions in scale, they are rapidly growing with government and public interest by excluding political ideology and focusing on improving the rights of marginalized employees such as office workers and youth who were excluded from existing unions.

The 'Young Lawyers for a New Future' (Saebyeon), established mainly by lawyers in their 30s in March, is also bringing a fresh breeze to the conservative legal community. All ten lawyers who led the establishment of the group are from the M generation born in the 1980s and 1990s. Although the membership is still around 200, unlike progressive or conservative-leaning lawyer groups, Saebyeon focuses solely on public-interest legislative proposals for the younger generation. Recently, it has received numerous research project requests from both ruling and opposition parties in the National Assembly, creating a significant impact within just three months of its launch.

[Image source=Yonhap News]

Reasons for the Rapid Growth of the M Generation... Innovation, Growth, Trends

Asia Economy analyzed major keywords related to the M generation using the news big data analysis service 'BigKinds.' The main associated words included organizational innovation, smartphones, social networking services (SNS), YouTube, Instagram, new products, pop-up stores, artificial intelligence (AI), and climate change. Large corporations and financial sectors have already been emphasizing the M generation in areas where trends and creativity are important for several years. Samsung, for example, appointed a total of 20 executives in their 30s and 40s in last year's year-end regular executive reshuffle, increasing the number of young leaders annually. Other major companies like SK and LG are also rapidly lowering the average age of their executives.

With the ages of major group chairpersons such as Koo Kwang-mo of LG (45), Chung Euisun of Hyundai Motor Group (52), and Lee Jae-yong of Samsung Electronics (54) getting younger, and digital transformation accelerating with technologies like ChatGPT, the pace of appointing young talent is picking up. Many companies have established opinion-gathering procedures such as junior boards to understand the MZ generation and are actively introducing organizational cultures that emphasize work-life balance (WLB), flexible working hours, opportunities for growth and development, and environments where opinions and ideas can be freely expressed?practices rarely seen in the past.

The rise of people in their 30s and 40s is even more pronounced in small and medium-sized enterprises. Examples include Go Myung-jin (30), CEO of Silvia Health, which provides non-face-to-face customized prevention services for dementia patients and was the first in the dementia field to receive the Ministry of Health and Welfare's non-medical health management service certification; Lee Doojin (38), CEO of MediQuarters, which operates Japan's number one fashion platform 'Nugu'; and Kim Mingyu (41), CEO of Boksundoga, leading the globalization of Makgeolli. President Yoon Suk-yeol also communicated extensively with M generation entrepreneurs, including CEO Go, at the Small and Medium Business Convention held in Yongsan, Seoul, at the end of last month.

On the 25th of last month, office workers are taking a break on the lawn during lunchtime. Photo by Dongju Yoon doso7@

When the M Generation Becomes Leaders... Organizational Culture Will Change Further

There is an analysis that as the M generation grows into leadership positions, our society and organizational culture will improve further. Professor Eunhyung Lee said, "The 'generation effect' that will not change even as the M generation ages will likely emphasize work-life balance and prioritize individual decision-making authority and growth," adding, "Naturally, as the M generation grows, the organizational culture in our society will change more." He added, "If the M generation becomes leaders in the future, they will demonstrate the generation effect mentioned earlier, and the organizational culture will change to respect that."

Professor Seoldonghoon of the Department of Sociology at Jeonbuk National University said, "People born in the 1990s are citizens of developed countries, while their parents' generation were citizens of developing countries, so their values and ways of thinking regarding marriage, childbirth, and other matters are inevitably distinct," adding, "Because of this, the world will be completely different over time."

However, Professor Seol also noted, "People born in the 1960s were very reform-minded in their 30s but have become 'kkondae' (authoritarian elders) now, so people in their 30s today may also tend to uphold existing customs and attitudes rather than being change-oriented as they age. Especially, Generation Z, which follows the M generation, has a more radical tendency, so in the future, the M generation's tendencies may appear less reformist in comparison."