Hankyung Association to Appoint 3 New Vice Chairmen... Namgu Kim, Chairman of Korea Investment & Finance, Among Them

Samyang Foods Joins the Fire Noodle Legend
Expanding from 12 to 15 Members... Ensuring Diversity in the Chairman Group

Three new members will join the Korea Economic Association (KEA) chairman group: Kim Nam-gu, Chairman of Korea Investment Holdings; Kim Jeong-su, Vice Chairman of Samyang Round Square; and Seong Rae-eun, Vice Chairman of Youngone Holdings. This move aims to diversify the industries, genders, and ages of the chairman group members, who have been predominantly middle-aged, male, and from the manufacturing sector.

Korean Economic Association Monument. [Photo by Hankyunghyeop]

According to business circles on the 2nd, the KEA chairman group plans to hold a meeting combined with a dinner on the 9th at a location in Seoul with the three newly appointed vice chairmen. It is reported that the chairman group will approve the appointment of the three new vice chairmen by consensus at this meeting. Once these three are officially appointed as members of the chairman group, the KEA chairman group will increase from 12 to 15 members.

Chairman Kim Nam-gu is the eldest son of Kim Jae-cheol, Honorary Chairman of Dongwon Group, and leads Korea Investment Holdings, which oversees Korea Investment & Securities. Vice Chairman Kim Jeong-su is the daughter-in-law of Jeon Jung-yoon, Honorary Chairman and founder of Samyang Foods, and is credited with developing Buldak Bokkeum Myun (Hot Chicken Flavor Ramen), turning Samyang Foods into a major export company. Vice Chairman Seong Rae-eun is the second daughter of Seong Gi-hak, founder of the outdoor fashion company Youngone Trading, and has served as Vice Chairman of Youngone Group since 2022.

The reason KEA is expanding its chairman group is to implement the innovation plan announced last May by its predecessor, the Federation of Korean Industries (FKI). The plan aims to diversify the industries, genders, and ages of the chairman group, which have been skewed toward middle-aged men in manufacturing.

Currently, the KEA chairman group consists of Chairman Ryu Jin (Chairman of Poongsan Group) and 12 vice chairmen, including Kim Seung-yeon (Hanwha), Shin Dong-bin (Lotte), and Park Jung-won (Doosan).

Regarding this, Chairman Ryu stated in December last year, "We plan to increase the chairman group to 25 members," adding, "In the past, decisions were made by the chairman and the full-time vice chairman, but going forward, we are working to establish a system where the entire chairman group consults and makes decisions together."