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S. Korea’s Dongkuk Steel Group speeds up hereditary management succession

Collected: 2016.12.05

Distributed: 2016.12.06

Source: Go Direct

[Chang Sun-ik]

South Korean conglomerate Dongkuk Steel Group promoted Chang Sun-ik, the eldest son of group chairman Chang Sae-joo, to a senior executive level, indicating a start of the group’s management succession to the fourth generation of the owner, in the annual year-end reshuffle on Friday.

Following the latest appointment, younger Chang will be in charge of creating and executing headquarters-level targets and aid Chang Sae-wook, the group’s vice chairman and chairman’s younger brother, on group-wide management, according to an unnamed Dongkuk Steel official. Sae-wook currently is leading the group after his older brother Sae-joo has been imprisoned for embezzlement and other wrongdoings since earlier this year.

Sun-ik joined Dongkuk Steel in 2007 and had worked at the group’s subsidiaries in the United States and Japan before he returned to Korea in 2015 and worked at legal and strategic planning teams.

By Moon Ji-woong

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