[Exclusive] Dongwon Group's Third-Generation Management Training... Chairman Namjung Kim's Eldest Son to Board Deep-Sea Fishing Vessel Next Month

Kim Dongchan, Born in 2000, Joins Dongwon Industries at the End of Last Year
Eldest Son Begins Full-Fledged Management Training... Founder’s Philosophy of “Starting from the Bottom” Reflected

It has been confirmed that Kim Dongchan, the eldest son of Namjung Kim, Chairman of Dongwon Group, has joined Dongwon Industries. This marks the official start of management training for the third generation of the Dongwon Group owner family.

According to business circles on May 13, Kim joined Dongwon Industries through an open recruitment process at the end of last year. He is currently an employee in the Marine and Fisheries Division, where he is responsible for vessel operations. Next month, he is scheduled to board a deep-sea fishing vessel and experience the entire fishing process for about a month. This is interpreted as part of management training aimed at building an understanding of the group’s core business, rather than simply gaining hands-on experience.

Born in 2000, Kim graduated from Sungkyunkwan University with a degree in Global Business Administration. He is the eldest son among two sons and one daughter born to Chairman Kim and his wife, Shin Sua. Currently, none of the three children, including Kim, hold shares in any Dongwon Group affiliates.

Dongwon Industries, where Kim has joined, is the de facto business holding company of Dongwon Group, overseeing deep-sea fishing as well as seafood processing and distribution. Last year, the company recorded consolidated sales of 8.9442 trillion won and an operating profit of 501.3 billion won. Chairman Kim is the largest shareholder, holding a 59.88% stake.

Jaechul Kim, founder and Honorary Chairman of Dongwon Group, has long emphasized his belief that “management must be learned in the field.” Honorary Chairman Kim has stated, “What I do not want to give my children but must give is hardship,” and added, “A flower in a greenhouse cannot become strong. It is the law of nature that only those who are tempered become strong.”

Namgoo Kim, the eldest son of Honorary Chairman Kim and Chairman of Korea Investment Holdings, boarded a deep-sea fishing vessel in the North Pacific during his senior year at Korea University in 1986, enduring grueling work for 18 hours a day over a period of four months. The second son, Namjung Kim, also started his career at Dongwon Industries’ Changwon plant as a tuna can production worker after graduating from the Department of Sociology at Korea University in 1996. He then worked as a sales representative in Cheongnyangni, in the marketing team, and in the planning department, before earning an MBA from the University of Michigan. He has since held key positions across major affiliates, including Chief Operating Officer (COO) of StarKist and Head of Management Support at Dongwon Systems.

After being promoted to Vice Chairman in 2014, Kim became Chairman of the group last year. He has led major mergers and acquisitions (M&A), including packaging company Techpack Solutions, comprehensive logistics company Dongbu Express, and secondary battery component manufacturer MKC, and is credited with transforming the group from a fisheries-focused business into a comprehensive lifestyle industry company. He was appointed chairman after proving his capabilities through practical experience.

Namjung Kim, Chairman of Dongwon Group [Photo by Dongwon Group]

Third-generation management training for the Dongwon family is also underway at Korea Investment Holdings. Kim Dongyoon, the eldest son of Chairman Namgoo Kim, began his career in 2019 as a regular employee at Korea Investment & Securities, starting on the front lines of sales. Kim, a graduate of the University of Warwick in the UK, also gained internship experience at Dongwon Group affiliates, Kakao, and global consulting firm Bain & Company.

An industry insider explained, “It is rare for a third-generation owner to start their career at the entry level in sales. Usually, they receive management training as mid-level managers in key positions at headquarters, such as the strategic planning office or overseas subsidiaries.” The insider added, “Although Honorary Chairman Jaechul Kim has a special affection for his grandchildren, there are no exceptions to his philosophy that adversity and hardship build strength. Kim Dongchan’s field experience is highly likely to be linked to future changes in the group’s governance structure or succession strategy.”