LeadersIndex Analyzes Careers of 199 Executives
40 Joined as Executives
Owner-family executives serving as presidents (president, vice chairman, chairman) in Korea's top 100 conglomerates are promoted to executive positions in their early to mid-30s on average and become presidents within 10 years thereafter.
On the 6th, Leaders Index, a corporate analysis research institute, examined the career histories of 199 owner-family members included in the president group out of 827 owner-family members currently working in the top 100 conglomerates by asset ranking in Korea. The average age at entry was 28.9 years. They were promoted to executives 5.4 years later at the age of 34.3, and then became presidents 7.8 years later at the age of 42.1.
Forty individuals were appointed as executives immediately upon joining the company. Among them, 21 were hired with prior experience, while the remaining 19 joined as executives from the start without prior experience.
The average period from joining the company to becoming a first-time executive for second-generation owner-family members was 4.7 years, reaching executive status at 34.7 years old. The third and fourth generations took 0.6 years less on average, 4.1 years, and were promoted to executives at 32.8 years old, about two years earlier than the second generation.
From executive to president, the second generation took an average of 7.8 years (42.6 years old), while the third and fourth generations took 8.4 years on average (41.2 years old). Although the second generation was somewhat faster in promotion speed, the period from president to vice chairman was shorter for the later generations: the second generation took an average of 6.5 years (49.1 years old), and the third and fourth generations took 4.8 years (46.0 years old) to become vice chairmen.
The youngest president among the top 100 conglomerates is Kim Dong-won, Chief Global Officer (CGO) of Hanwha Life Insurance, who was promoted to president earlier this year. Born in 1985, Kim is the third generation of the owner family and the second son of Chairman Kim Seung-yeon.
The youngest vice chairman is Lee Kyu-ho, a fourth-generation member of Kolon and CEO of Kolon Corporation's Strategy Division (born in 1984), who was recently promoted to vice chairman. Other owner-family vice chairmen born in the 1980s include Kim Dong-kwan of Hanwha Group (born in 1983), Jung Ki-sun of HD Hyundai and Hong Jung-guk of BGF (both born in 1982), and Yang Hong-seok of Daishin Securities (born in 1981).
Among the presidents of the top 100 conglomerates, there are 22 women, including Lee Myung-hee, Chairwoman of Shinsegae Group; Hyun Jeong-eun, Chairwoman of Hyundai Group; Jang Young-shin, Chairwoman of Aekyung Group; Lee Yeo-ryong, Chairman of Daishin Financial Group; and Park Ui-sook, Chairwoman of SeAH Networks.
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