POSCO Choi Jeong-woo, LG Energy Solution Kwon Young-soo, SK Hynix Park Jung-ho, Kakao Hong Eun-taek... Terms Ending in First Half of Next Year

Investigation of Inside Directors in Top 30 Groups
Kakao and SK Exceed 100 Members
Samsung, Hyundai Motor, and SK Also Have Dozens of CEOs

It has been found that more than 1,000 inside directors from the top 30 groups, including the 5 major conglomerates (Samsung, SK, Hyundai Motor, LG, POSCO) and Kakao, will have their terms ending in the first half of next year. It is estimated that more than 500 of them are CEOs. Representative figures include Choi Jeong-woo, Chairman and CEO of POSCO Group; Kwon Young-soo, Vice Chairman and CEO of LG Energy Solution; Park Jung-ho, Vice Chairman and CEO of SK Hynix; and Hong Eun-taek, CEO of Kakao.

On the 1st, global headhunting specialist Unicosrch announced the results of a survey on inside directors whose terms expire in the first half of next year within the top 30 groups. The survey covered inside directors of all affiliates (including unlisted companies) of the top 30 conglomerates designated by the Fair Trade Commission (business groups with total assets of 5 trillion KRW or more subject to disclosure) whose terms end in the first half of next year.

Choi Jung-woo, Chairman of POSCO Group. [Photo by POSCO Holdings]

Among the top 30 groups, 3,297 inside directors still have remaining terms after early January next year. The number of inside directors whose terms expire in the first half of next year is 1,087 (33%). Among them, 525 (48.3%) are at the CEO level. Unicosrch stated, "Those facing the three crossroads of reappointment, position transfer, or retirement are the top priority for attention in next year's executive personnel affairs."

Kakao and SK each have more than 100 inside directors whose terms expire in the first half of next year. Kakao has 117 (10.8%). This means that one out of every ten inside directors with terms expiring in the first half of next year is from Kakao. Among them, 77 (65.8%) are CEOs. It is understood that registered executives including CEO Hong Eun-taek, CEO Cho Gye-hyeon of Kakao Games, CEO Shin Won-geun of Kakao Pay, and CEO Ryu Geung-seon of Kakao Mobility will have their terms ending in March next year.

Jung-ho Park, Vice Chairman and CEO of SK Hynix. [Photo by SK Hynix]

SK ranks second with 104 (9.6%). Among them, 41 (39.4%) are CEOs. The term expiration for registered executives such as Park Jung-ho, Vice Chairman and CEO of SK Hynix, and Yoo Young-sang, President and CEO of SK Telecom, is in March next year. Other professional managers including Ahn Jae-yong, CEO of SK Bioscience; Ji Dong-seop, CEO of SK On; and Park Kyung-il, CEO of SK Ecoplant, will have their terms ending before the end of March next year.

Hong Eun-taek, CEO of Kakao. [Photo by Kakao]

Besides Kakao and SK, POSCO has 78 inside directors (37 CEOs), Lotte 77 (35), SM (Samra Midas) 54 (24), CJ 48 (25), and GS 47 (23) with many inside directors whose terms expire in the first half of next year. Hanwha, despite conducting group personnel changes in October last year, has 76 inside directors (38 CEOs) whose terms end in the first half of next year.

Particular attention is focused on the position of Choi Jeong-woo, Chairman and CEO of POSCO Holdings, as his official term ends in March next year. Unicosrch said, "Depending on Chairman Choi's position, the personnel landscape of the group will be shaken." In addition to Chairman Choi, Kim Hak-dong, Vice Chairman and CEO of POSCO; Han Seong-hee, CEO of POSCO E&C (formerly POSCO Construction); and Jeong Deok-gyun, CEO of POSCO DX (formerly POSCO ICT) will also have their terms ending in the first half of next year.

Kwon Young-soo, Vice Chairman and Chief Executive Officer (CEO) of LG Energy Solution. [Photo by LG Energy Solution]

Samsung, Hyundai Motor, and LG each have about 10 CEOs whose terms end in the first half of next year. Samsung has 38 inside directors and 12 CEOs whose terms expire. The terms of registered executives such as Ko Jung-seok and Oh Se-cheol, CEOs of Samsung C&T; Hwang Seong-woo, CEO of Samsung SDS; Jeong Jin-taek, CEO of Samsung Heavy Industries; Jang Seok-hoon, CEO of Samsung Securities; and Hong Won-hak, CEO of Samsung Fire & Marine Insurance, will end in March next year.

Hyundai Motor has 31 inside directors and 15 CEOs whose terms expire. Key professional managers include Jang Jae-hoon and Lee Dong-seok, CEOs of Hyundai Motor; Choi Jun-young, CEO of Kia; Jeong Jae-wook, CEO of Hyundai Wia; and Seo Jeong-sik, CEO of Hyundai AutoEver. LG has 31 inside directors and 12 CEOs whose terms end. Included are Kwon Young-soo, Vice Chairman and CEO of LG Energy Solution; Hwang Hyun-sik, CEO of LG Uplus; and Bae Doo-yong, CEO of LG Electronics.

Kim Hye-yang, CEO of Unicosrch, said, "Personnel decisions for core executives serving as inside directors in major groups tend to be made by analyzing future vision and leadership from multiple perspectives," adding, "It will be noteworthy to see what kind of individuals each group will advance in next year's personnel moves."