Analysis of 100 Major Corporate Executives Born in the Year of the Dragon
Oldest Born in 1940, Youngest Born in 1988
Many Born in 1964 Are Salarymen, Not Family Owners
Pioneering High-Tech Barriers in Bio and Semiconductor Industries
As we welcome the year 2024, the Gapjin Year (甲辰年), known as the 'Year of the Blue Dragon,' attention is focused on the activities of business leaders born in the Year of the Dragon. The Blue Dragon, along with the White Tiger, Vermilion Bird, and Black Tortoise, is regarded as a guardian deity protecting the four directions and symbolizes the east. It represents new beginnings, growth, challenges, and change. Dragon-born business leaders have pioneered growth industries in technically challenging fields and have demonstrated bold management decisions when making important choices. It is expected that in the upcoming Year of the Dragon, they will continue to positively influence companies and industries through new challenges and growth.
On the 29th, Asia Economy commissioned the Korea CXO Research Institute, a corporate analysis specialist, to select 100 major business leaders born in the Year of the Dragon (1940, 1952, 1964, 1976, 1988). Among them, those born in 1964 (aged 59) were the largest group with 47 people (47%). They were followed by those born in 1952 (26 people, 26%), 1976 (24 people, 24%), 1940 (2 people, 2%), and 1988 (1 person, 1%).
Jang Hong-seon, Chairman and CEO of Geukdong Yuhwa, and Heo Jin-gyu, Chairman of Iljin Group, were born in 1940 (aged 83), making them among the oldest existing founders. Chairman Jang founded Geukdong Refinery, the predecessor of Hyundai Oilbank, in 1964. The Geukdong Yuhwa Group operates subsidiaries such as Gojin Motors, Seonin Motors, and Seonjin Motors in the imported car sector, and holds subsidiaries like Woam Holdings in the rental sector and Seyang Logistics in the logistics sector.
Chairman Heo's Iljin Group has been undertaking challenging businesses in fields such as power infrastructure, information technology (IT), and biotechnology. Recently, it has undergone a period of upheaval by selling Iljin Materials (now Lotte Energy Materials), a copper foil subsidiary affiliated with Lotte Group.
The youngest, born in 1988 (aged 35), Jang Young-jun, Non-Executive Director of Obigo, is also drawing attention in the business world. Obigo is showing strong growth in the automotive electronics business and establishing a powerful presence. The company, a vehicle software firm, was listed on KOSDAQ in July 2021. Recently, it achieved results such as commercializing 'U+ Mobile TV' for Hyundai Motor and Kia in collaboration with LG Uplus.
Business leaders born in 1964 (aged 59) are in the prime of their careers and active in various fields, with many rising from ordinary employees to CEOs rather than being part of founding families. Among the 47 business leaders born in 1964, 12 (25.5%) are non-owners serving as CEOs. Notable figures include Jang Jae-hoon, President and CEO of Hyundai Motor Company; Jang Deok-hyun, President and CEO of Samsung Electro-Mechanics; Hong Won-hak, appointed President and CEO of Samsung Life Insurance; Noh Sam-seok, President and CEO of Hanjin; and Lee Junho, Chairman of NHN.
Despite Hyundai Motor Group conducting a 'generation change' in executive appointments, President Jang remains active. He made a dramatic move from Samsung to Hyundai Motor in 2011, playing a key role as a 'strategic planner' and significantly contributing to pioneering the North American market with the Genesis brand. Additionally, he has played a major role in Hyundai Motor's goal to become the world's top electric vehicle maker by 2030 and in leading the SDV (Software Defined Vehicle) trend.
Among the 1964-born owner families are Choi Chang-won, Vice Chairman and CEO of SK Discovery; Koo Ja-eun, Chairman of LS Group; and Kang Jung-seok, Chairman of Dong-A Socio Group. Vice Chairman Choi was recently appointed chairman of the SK Supex Council, SK Group's highest decision-making body, attracting attention from the business community. Chairman Koo is growing the company by announcing 'Vision 2030,' aiming to lead CFE (carbon-free electricity) and future industries by 2030, which has led to a 35.5% increase in LS's stock price this year alone.
Among business leaders skilled in 'challenge and change,' many work in the bio and electronic/electrical industries. Particularly, those born in 1952 contributed to successfully developing advanced industries in Korea, which was one of the poorest countries in the world after the Korean War. Among the 26 business leaders born in 1952, 7 (26.9%) are engaged in the bio sector. Representative figures include Lee Jang-han, Chairman of Chong Kun Dang; Yoon Do-jun, CEO and Chairman of Dong Wha Pharm (second-generation owner); and Cha Kwang-ryeol, founder of Cha Bio Tech and head of Cha Hospital & Bio Group Research Institute.
Among the 1964-born business leaders, many are engaged in the semiconductor and display sectors of the electrical and electronics industry. Out of 47, 11 (23.4%) belong to this group, including notable figures such as Jang Deok-hyun, President of Samsung Electro-Mechanics, and Kim Cheol-young, founder of Mirina Nano Tech (a display parts and materials company).
Oh Il-seon, Director of the CXO Research Institute, said, "It is commendable that many Dragon-born business leaders have pioneered industries with high technological entry barriers such as bio and electrical/electronics. Given that major companies like Hyundai Motor, Samsung, SK, and LG are driving 'generation change' in executive appointments, it is worth paying attention to whether CEOs born in 1964, such as Jang Jae-hoon, who have survived this transition, will perform even better in the Gapjin Year than this year."
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