'Young Business Leaders' 40 Chairmen and Vice Chairmen of Owner Families Born After 1970

[Asia Economy Reporter Kim Hyewon] It has been revealed that the number of owner chairmen and vice chairmen born after 1970 in major domestic companies reaches around 40. Expanding the scope to president-level executives, the number of owner families in their early 50s or younger exceeds 100. This indicates that the executive age in the business world is getting younger.

On the 13th, the Korea CXO Institute announced the results of an analysis on the "Status of Owner Family Executives Born After 1970" targeting the top 200 domestic groups as well as major mid-sized and small companies.

The survey found that the number of owner family members born after 1970 holding executive titles was 220. Among them, 14 owner executives officially held the chairman title. The young chairman group includes Hyundai Motor Group Chairman Chung Euisun, born in 1970, Hyundai Department Store Chairman Chung Jiseon (50), DB Group Chairman Kim Namho (47), Hanjin Group Chairman Cho Won-tae (46), and LG Group Chairman Koo Kwang-mo (44). Among mid-sized companies, HY (formerly Korea Yakult) Chairman Yoon Hojung, as well as Sama Pharmaceutical Chairman Heo Jun and Chosun Refractories Chairman Lee Inok, all born in 1971 and now 51 years old, are same-age chairmen. Park Chang-ho, SG Chairman of the asphalt and ready-mixed concrete manufacturer, is a first-generation founder who turned 50 this year.

The number of owner family executives holding the vice chairman title was 26. Among them, there were three female vice chairmen: Jung Hyesung, Vice Chairman of Inzi Controls (including Inzi Display and Cymax) (50), Lim Seryeong, Vice Chairman of Daesang Holdings (45), and Cho Yeonju, Vice Chairman of Hansol Chemical (43).

Including CEOs, the number of president-level chief executives was 101 (45.9%), approaching 50%. Among them, one in four was born after 1980. Kim Dong-kwan, President of Hanwha Solutions (39), is a representative example.

Among the 220 surveyed, female owner executives accounted for only 42 (19.1%), while males overwhelmingly numbered 178 (80.9%). This means that 8 out of 10 owner executives are male.

Oh Ilseon, Director of the Korea CXO Institute, said, "As the business world enters the 3rd to 4th generation management era, it is necessary to gradually move away from traditional succession methods such as primogeniture and bloodline preference, and to establish an advanced governance system and a foundation for sustainable companies."

This content was produced with the assistance of AI translation services.