Former Doosan Chairman Park Yong-man Starts Consulting Firm, Embarks on Independent Path

Established Bell Street Partners with second son
Likely to support startups and social enterprises

Park Yong-man, former chairman of Doosan Group

[Asia Economy Reporter Lee Hye-young] Former Doosan Group Chairman Park Yong-man has officially started his solo career by establishing a consulting firm.

According to the business community on the 14th, Park established the consulting firm Bell Street Partners at the end of last month. Founded with a capital of 1 billion KRW, the company aims to provide ▲ management advisory and consulting services for domestic and international companies ▲ discovery and advisory for domestic and international investment target companies ▲ operation of private investment associations, venture investment associations, and limited partnerships.

Park was registered as the representative executive officer, and his second son, Park Jae-won, former executive director of Doosan Heavy Industries & Construction, was also listed.

The Bell Street Partners office is located in the same building as the foundation "Walking Together (formerly Dongdaemun Future Foundation)," where Park serves as chairman. Established in 2015 with a personal donation of 10 billion KRW from Park, the foundation carries out social contribution projects such as revitalizing the Dongdaemun commercial district and promoting regional balanced development.

The business community views Park’s establishment of the consulting firm as a step beyond social contribution to support the growth of startups and social enterprises.

It is reported that Park had a strong interest in management consulting even during his leadership of Doosan Group. In 1996, during Doosan Group’s restructuring, he entrusted global management consulting firm McKinsey with management diagnostic consulting, which became a turning point for Doosan Group’s transformation into a heavy industries-centered company.

Having served as chairman of the Korea Chamber of Commerce and Industry, Park has repeatedly emphasized the importance of fostering and supporting emerging business ecosystems such as startups at various official events.

In a farewell post on Facebook last November, Park expressed his intention to start actively supporting social enterprises after leaving Doosan, stating, "I have decided to take better care of those in the shadows and live doing good for society."

At that time, Park also mentioned former Vice President Park Seo-won and former Executive Director Park Jae-won, saying, "The eldest child plans to work as an accelerator for fashion-related startups and develop content such as design products culture, while the younger child intends to work in venture capital in Silicon Valley."

Park Jae-won, who will work alongside Park Yong-man to run Bell Street Partners, graduated from New York University and has experience working at the consulting firm Boston Consulting Group (BCG). While working at Doosan Infracore, he led the establishment of the venture capital 'D20' for startup investments in Silicon Valley.

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