Leaders Index Survey... Hanwha 37.4%, GS 33.3%, Lotte 22% 순
The number of executive promotions in the top 30 domestic groups decreased by nearly 10% compared to last year. This is analyzed to be because most groups are focusing on efficiency rather than expansion due to increasing domestic and international uncertainties and prolonged economic recession.
On the 24th, Leaders Index, a corporate analysis research institute, analyzed the status of 245 affiliates of 21 groups among the top 30 domestic asset groups that announced executive promotions from August 1 to 20. The number of executive promotions was found to be 1,303, a 9.6% (139 people) decrease from 1,442 last year. Although the number of affiliates with executive promotions increased by 4 from 152 last year, the total number of promoted executives actually decreased.
In particular, the decrease in promotions to president-level and above was significant. The number of newly appointed executives at the managing director level, the entry-level executive rank, decreased by 9.6%, from 1,129 to 1,021 this year. The number of senior executives at the president level and above dropped by about half, from 43 to 24.
By company, the promoted chairpersons were Jeong Yoo-kyung, Chairperson of Shinsegae, and Jeong Gyo-seon, Chairperson of Hyundai Home Shopping, totaling two. The number of vice chairperson promotions decreased from 11 last year to 4 this year. Those promoted to vice chairperson include Jang Jae-hoon, CEO and Vice Chairperson of Hyundai Motor Company; Jo Seok, CEO and Vice Chairperson of HD Hyundai Electric; Hong Soon-ki, CEO and Vice Chairperson of GS Corporation; and Koo Bon-hyuk, CEO and Vice Chairperson of Yesco Holdings. Among the four major groups (Samsung, SK, Hyundai Motor, LG), except Hyundai Motor, there have been no vice chairperson promotions for three consecutive years. The number of president promotions also decreased from 32 last year to 20 this year (-37.5%).
The groups with more executive promotions than last year were NongHyup, CJ, DL, Mirae Asset, and Hyundai Department Store, totaling five.
Among the top 10 groups, Hanwha experienced the largest decrease. The number of promotions in 13 Hanwha affiliates that announced executive personnel this year was 62, a 37.4% decrease compared to 99 last year. Hanwha Solutions saw the largest drop in executive promotions, from 25 to 7. GS (33.3%), Lotte (22%), HD Hyundai (12.2%), and LG (11.9%) followed.
SK, which saw a sharp decline in executive promotions last year compared to the previous year (127 → 82), also decreased this year to 75 (-8.5%). There were significant differences among affiliates. SK Hynix, which improved performance due to strong sales of high-bandwidth memory (HBM), promoted about three times more executives than last year (13 to 34). SK Telecom decreased from 17 to 3.
Hyundai Motor announced 239 promotions, 14 fewer than last year (253). Hyundai Motor's executive promotions decreased from 97 to 73, but Kia increased from 38 to 44. Hyundai Construction also roughly doubled from 7 to 16.
Among the top 10 groups, Samsung had the lowest rate of decrease in executive promotions. Samsung's promoted executives decreased by 5 (1.9%) from 265 last year to 260 this year. Samsung Electronics decreased from 145 to 139, and Samsung SDI (21 → 12) and Samsung Heavy Industries (13 → 5) also saw decreases in executive promotions. Financial affiliates Samsung Fire & Marine Insurance (8 → 11) and Samsung Securities (4 → 6) increased.
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