Doosan Founder and First Chairman Inducted Together into the Korea Entrepreneur Hall of Fame

First Father-Son Business Leaders, Park Seungjik and Park Doobyung, Inducted Together
Recognized for Laying the Foundations of Modern Commerce and Driving Growth During Industrialization

The late founder Park Seungjik, posthumously known by the pen name Maeheon, who laid the foundation for Doosan Group, and the late first chairman Park Doobyung, posthumously known by the pen name Yeongang, have been inducted side by side into the Korea Entrepreneur Hall of Fame.

At the induction ceremony for the 'Korea Entrepreneur Hall of Fame' held on the 24th at Ewha Womans University Business School 60th Anniversary Hall in Seoul, Park Jungwon, chairman of Doosan Group (right), is holding the commemorative induction plaque and posing for a photo with Yang Heedong, president of the Korean Academic Society of Business Administration (left). Provided by Doosan.

Doosan announced that both figures were inducted simultaneously at an induction ceremony held on the 24th at the Ewha Womans University Business School 60th Anniversary Memorial Hall in Seoul. Since the Korean Academic Society of Business Administration began inducting entrepreneurs who have contributed to economic development in 2016, this is the first time that a father and son who were both business leaders have entered the Hall of Fame together.

Tracing its origins back to 1896 with the opening of the Park Seungjik Store in Jongno and celebrating its 130th anniversary, Doosan is regarded as the longest-standing company in Korea with an officially documented corporate history. Founder Park Seungjik started out as an itinerant merchant and expanded his business into trade, brewing, and transportation, laying the groundwork for modern Korean commerce. He also contributed to the development of the national economy by leading merchant organizations and participating in the establishment of financial institutions.

After Korea’s liberation, first chairman Park Doobyung changed the company name to Doosan Store and established a manufacturing-centered business structure, laying the foundation for the group’s growth. He expanded the business into areas including Oriental Brewery, construction, food, machinery, and glass; during his tenure he founded 13 affiliates and increased the group’s sales by a factor of 349. Serving as chairman of the Korea Chamber of Commerce and Industry and chairman of the Confederation of Asia-Pacific Chambers of Commerce and Industry, he also played a role in the country’s industrialization process.

Park Jeongwon, chairman of Doosan Group, stated, “By inheriting the founding and pioneering spirit of our predecessors, we will further develop Doosan into a better company and contribute to the national economy.”

The Korean Academic Society of Business Administration explained its decision by stating, “Founder Park Seungjik laid the foundation for a modern corporate organization and responsible management, while Chairman Park Doobyung enhanced corporate competitiveness in the early stages of industrialization through business diversification and the development of overseas markets.”