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Posted2024-11-26 14:07:17
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[스포츠서울 | 최규리 기자] Major domestic conglomerates are accelerating generational change, with owners promoting third- and fourth-generation executives one after another. In particular, in owner-centered companies, this is attracting attention as the third and fourth generation owners focus on stably preparing for management succession and increasing the sustainability of the company.
According to the industry on the 25th, Samyang Group’s high value-added materials business will be led in earnest by Samyang Holdings President Kim Geon-ho, the eldest son of Samyang Holdings Chairman Kim Yoon, concurrently serving as head of the Chemical Group 2. After joining Samyang Corporation, President Kim Geon-ho has held key roles within the group, serving as head of the global growth team and president of Huvis (supervising future strategy). Previously, President Kim solidified his position within the group by personally announcing the company’s future vision at the 100th anniversary ceremony last October. Through this separation of the chemical group, he has managed specialty businesses such as Samyang NCChem, Korea’s largest semiconductor photoresist (PR) materials specialist, KCI, a personal care materials specialist, and Verdant, a global chemical company acquired last year. He will oversee the future growth of Samyang Group.
GS Retail also switched to a fourth-generation management system. CEO and Vice Chairman Heo Yeon-soo resigned, and Vice President Heo Seo-hong was appointed as the new CEO. This is an important turning point as the fourth generation of GS Group owners takes the lead in management. Vice President Heo has accumulated management capabilities through working in major departments at GS Energy and GS Retail. GS Retail plans to overcome poor performance and strengthen the competitiveness of its main businesses, including GS25, GS The Fresh, and GS Shop, with Vice President Huh at the center. In particular, amid the slump in domestic demand and the strength of the e-commerce market, the company is expected to focus on digital transformation and fresh food strategies to expand its market share.
Nongshim is also in full swing with third-generation management. On the 25th, Nongshim Chairman Shin Dong-won’s eldest son Shin Sang-yeol, head of the Future Business Department, was promoted to executive director, and eldest daughter Shin Su-jeong, in charge of the beverage marketing team, was promoted to managing director. Executive Director Shin Sang-yeol is leading the Future Business Office, which was newly established in January of this year, and is focusing on expanding exports and discovering new businesses. Managing Director Shin Soo-jeong led the sales growth of the beverage brand ‘Welch’ and established herself as a key figure in Nongshim’s global business expansion. Nongshim is accelerating the management succession process by empowering young leaders to create new growth engines in the global food market.
In the recent personnel changes to the HD Hyundai presidents, Vice Chairman Ki-seon Jeong, born in 1982 and a third generation member of the ‘pan-Hyundai family’, rose to the position of senior vice-chairman just one year after being promoted to vice-chairman. HD Hyundai explained that he will directly take care of the group’s key tasks in the future and lead the discovery of future growth engines, innovation in eco-friendly and digital technologies, and the spread of a new corporate culture.
In personnel appointments at Lotte Group scheduled for this month, attention is focused on the possibility of promotion of Executive Director Shin Yu-yeol, born in 1986, who is the third generation owner and the eldest son of Lotte Group Chairman Shin Dong-bin.
In the business world, it is believed that the intention to smooth management succession and minimize noise is a big factor in quickly selecting young executives.
A business expert said, “Selecting third- and fourth-generation members quickly as executives is a strategic measure to ensure the stability and legitimacy of management succession,” adding, “This is to reduce internal noise, defend against criticism from outside, and ensure the long-term sustainability of the company.” “It can be said to be an important process that is carried out for this purpose,” he said. [email protected]
**Given the potential for generational conflicts, what specific steps are these South Korean conglomerates taking to ensure a seamless transition of leadership and prevent power struggles between different generations?**
Okay, here’s an interview outline designed for World Today News, focusing on the article about generational changes in South Korean conglomerates.
**Title:** “Passing the Torch: Third and Fourth Generation Leaders Rise in South Korea’s Conglomerates”
**Guests:**
* **Professor Lee Ji-hye:** Expert in Corporate Governance and Family Business Succession, Seoul National University
* **Mr. Park Chang-soo:** Vice President & Head of Management Consulting, Insight Korea
**Introduction**
* **Host:** Welcome to World Today News. Today’s discussion focuses on a significant trend we’re seeing in South Korea’s leading business groups – the rapid rise of young, third- and fourth-generation leaders. Joining us to examine the implications of this trend are Professor Lee Ji-hye, a distinguished expert in corporate governance, and Mr. Park Chang-soo, a seasoned management consultant with deep experience in advising family businesses. Welcome to both of you.
**Section 1: The Drive for Succession and Stability**
* **Host:** Professor Lee, the article highlights that many conglomerates, including Samyang Group, GS Retail, and Nongshim, are actively promoting younger family members to key leadership positions. What are the primary motivations behind these moves? Is it purely about succession planning or are other factors at play?
* **Professor Lee:** (Provides insights on succession planning, minimizing potential conflict within families, projecting a forward-looking image to stakeholders and investors, and ensuring continuity of ownership)
* **Host:** Mr. Park, from your perspective as a consultant, what are the potential advantages and challenges that these conglomerates might face as they integrate a new generation of leaders?
* **Mr. Park:** (Discusses the benefits of fresh perspectives, technological acumen, and global outlook that younger leaders bring, while also acknowledging potential tensions with established corporate cultures, experience gaps, and the need for effective mentorship)
**Section 2: Strategies for Success – Balancing Tradition and Innovation**
* **Host:** The article mentions that these young leaders are often assigned to managing critical growth areas, such as digital transformation and expansion into new markets. How can these conglomerates best leverage the strengths of both experienced veterans and their younger successors to achieve sustainable growth?
* **Mr. Park:** (Explores the importance of collaboration, knowledge transfer, and creating a culture where different generations can learn from each other)
* **Host:** Professor Lee, what strategies can these conglomerates adopt to ensure that the transition to a new generation of leadership is smooth and doesn’t disrupt the established corporate culture?
* **Professor Lee:** (Discusses the role of clear communication, transparency in decision-making, building trust across generations, and providing opportunities for young leaders to earn the respect of their teams)
**Section 3: The Broader Implications for the South Korean Economy**
* **Host:** Looking beyond individual companies, how might these generational shifts within South Korea’s major conglomerates impact the overall economy? What are the potential implications for innovation, competitiveness, and job creation?
* **Professor Lee:** (Analyzes potential for greater dynamism and adaptability, the importance of fostering entrepreneurship, and the role of government policy in supporting a balanced transition)
* **Mr. Park:** (Offers insights into how multinational companies may view these changes and whether they create new opportunities or challenges for foreign investment)
**Conclusion**
* **Host:** We’ve covered a lot of ground today. Professor Lee, Mr. Park, thank you both for sharing your valuable perspectives on this important evolution within South Korea’s business landscape. As we look ahead, it will be fascinating to observe how these generational transitions unfold and shape the future of some of the world’s leading corporations.
**Final Note:**
Remember to adjust the interview’s tone and approach based on the target audience of World Today News. Utilize clear and concise language, encourage lively discussion, and aim for a balanced and insightful conversation.
