Jeong Eui-sun, Koo Kwang-mo, and Other 'Chairmen' Got Younger... 83 Owner-Chairmen and Vice Chairmen Born After the 1970s

CXO Research Institute Analyzes Executive Status of Large Corporations Owned by Owners Born After 1970

Jung Eui-sun, Chairman of Hyundai Motor Group, Koo Kwang-mo, Chairman of LG Group, and other key corporate owner-family executives born after 1970 have been found to number over 300. The number of chairmen (including group heads) and vice chairmen increased by nearly 20 within a year, exceeding 80. The number of 'MZ' executives born after 1980 surpassed 100 for the first time this year. This indicates that the key owner-family management has become younger.

Hyundai Motor Group Chairman Chung Euisun is answering reporters' questions as he returns to Korea through the Seoul Gimpo Business Aviation Center (SGBAC) in Gangseo-gu, Seoul, on the afternoon of the 7th of last month after a business trip to the Paris Olympics. Photo by Jo Yongjun jun21@

The Korea CXO Institute, specializing in corporate analysis, announced on the 4th the status of owner-family executives born after 1970, analyzing the top 200 domestic groups and 60 medium and small enterprises.

According to the survey results, there are 318 owner-family executives born after 1970. Among them, 31 hold the chairman title or are designated as the same person (group head) of large business groups by the Fair Trade Commission.

The Fair Trade Commission has designated seven group heads of large business groups. In order of age, they are Chairman Jung Eui-sun, Chairman Cho Hyun-bum of Hankook & Company Group, Chairman Jung Ji-sun of Hyundai Department Store Group, Chairman Jang Byung-gyu of Krafton Group, Chairman Kim Nam-jung of Dongwon Group, Chairman Cho Won-tae of Hanjin Group, and Chairman Koo Kwang-mo.

Those who hold the chairman title of large corporations but are not group heads include Kim Nam-ho, Chairman of DB; Choi Yoon-beom, Chairman of Korea Zinc; Song Chi-hyung, Chairman of Dunamu; and Seo Jun-hyuk, Chairman of Sono International, totaling four people.

There are 20 chairmen born after 1970 in medium-sized companies, including Yoon Ho-jung, Chairman of HY, Kim Jang-jung, Chairman of Eastsoft, and Park Chang-ho, Chairman of SG.

Chairmen born in the 1980s include Seo Jun-hyuk, Chairman; Heo Seung-beom, Chairman of Samil Pharmaceutical; and Park Joo-hwan, Chairman of TKG Hu-Cams, totaling three people.

Among owner-family executives, there are 52 vice chairmen, an increase of more than 30% from 39 last year.

Among vice chairmen, those born in 1974 are the most numerous with seven. They include Kwak Dong-shin, Vice Chairman of Hanmi Semiconductor; Kim Seok-hwan, Vice Chairman of Hansae Yes24 Holdings; Lim Ju-hyun, Vice Chairman of Hanmi Pharmaceutical; Seo Tae-won, Vice Chairman of DI Dongil; Yoon Sang-hyun, Vice Chairman of Kolmar Holdings; Jang Se-jun, Vice Chairman of Korea Circuit; and Jung Kyo-sun, Vice Chairman of Hyundai Department Store.

There are seven female vice chairmen, including Lim Ju-hyun; Jung Hye-seung, Vice Chairman of Inzi Controls; Kim Joo-won, Vice Chairman of DB; Lim Se-ryung, Vice Chairman of Daesang Holdings; Sung Rae-eun, Vice Chairman of Youngone Trading Holdings; Cho Yeon-ju, Vice Chairman of Hansol Chemical; and Gyeong Ju-seon, Vice Chairman of Dongmoon Construction.

Among those born after 1980, there are 12 vice chairmen. Representative figures include Jung Ki-sun, Vice Chairman of HD Hyundai; Hong Jung-guk, Vice Chairman of BGF; Kim Dong-kwan, Vice Chairman of Hanwha Solutions; Lee Kyu-ho, Vice Chairman of Kolon; and Seo Jun-seok, Senior Vice Chairman of Celltrion.

There are 157 CEOs at the president or chairman level. Among them, 44 were born in the 1980s.

By management generation, second-generation managers are the most numerous with 175 (55%). They are followed by third-generation managers with 109 (34.3%), fourth-generation entrepreneurs with 23 (7.2%), and founders with 11 (3.5%).

By age group, the distribution is as follows: 116 (36.5%) born between 1970 and 1974; 102 (31.8%) born between 1975 and 1979; 66 (20.8%) born between 1980 and 1984; 24 (7.5%) born between 1985 and 1989; and 11 (3.5%) born in the 1990s.

The number of MZ executives born after 1980 is 101 (31.8%), surpassing 100 for the first time this year. This indicates that young executives are bringing a fresh breeze to the business world. Women account for 57 (17.9%), a smaller proportion than men.

Oilseon Oh, Director of the Korea CXO Institute, said, "(Owner-family) 'ultra-fast promotion' appears to be a measure to quickly take control of the organization and lead the business rapidly by overcoming the handicap of being young and inexperienced with a high position." He added, "Another factor is the strong tendency to externally match the status of other corporate owners and executives of similar age groups."