Kolon Group is moving into the fourth generation of family ownership as the company unveiled its recent promotions on Tuesday. Kolon Mobility Group Chief Executive Lee Kyu-ho, a fourth- generation member of the founding family, was promoted to the vice president of the strategic unit in Kolon Corp.

Kolon Corp is a holding company of Kolon Group, with controlling interests in subsidiaries including Kolon Industries Inc., Kolon Global Corp, and Kolon Mobility Group.

With a stake of 49.74 percent at the parent company, the biggest shareholder is Lee Woong-yeol, the grandson of Kolon Group Founder Lee Won-man and Lee Kyu-ho’s father.

The younger Lee, born in 1984, graduated with a degree in Hotel Management from Cornell University and served in the United Nations Peacekeeping Force in Lebanon during his military service.

He joined Kolon Industries in 2012 as a deputy manager of the company’s plant at Gumi, North Gyeongsang Province, followed by stints as general manager of Kolon Global and chief operating officer (COO) of Kolon Industries FnChe, and was promoted to chief executive at Kolon Mobility Group in 2022.

Lee has also been playing a leading role in devising growth strategies and exploring new business opportunities by serving as the chief strategy officer (CSO) at the parent company since 2021.

The recent changes in leadership also suggest the beginning of a generational shift toward younger executives in the company. Of the 16 newly appointed executives, 12 were in their 40s, accounting for 75 percent of the roster.

“The appointments represent the company’s emphasis on enhancing corporate value and seizing opportunities amid growing uncertainty in the business landscape,” Kolon Corp. said in a statement.

By Chung Seung-hwan and Han Yubin

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