This file photo shows the buildings of South Korea’s major companies in Seoul. (Yonhap)
SEOUL, March 17 (Korea Bizwire) — Among the CEOs of South Korean family-controlled conglomerates, the share of owner family members has declined sharply while that of professional managers is increasing, a corporate tracker said Wednesday.
According to a survey conducted by CEO Score of 411 out of the nation’s top 500 companies by sales in the 2012-2022 period, the share of owner family members among 563 CEOs at the conglomerates stood at 16 percent, while that of professional executives stood at 84 percent.
The number of owner family members who hold CEO titles at conglomerates declined from 147 in 2012 to 90 this year, while that of professional managers rose from 418 to 473 during the same period.
By area of expertise, the number of professional executives with specialty in finance and accounting more than doubled from 34 in 2012 to 73 in 2022.
“As the global business environment enters a phase of low growth, domestic conglomerates are focusing on stable financial management rather than growth through new business, resulting in an increase in the number of professional CEO-level executives with strength in financing and accounting,” CEO Score said.
The number of professional executives with specialty in sales, marketing and distribution rose by 15 or 13.9 percent from 108 to 123, while that of those with specialty in production management rose by 75 percent to nine.
J. S. Shin (js_shin@koreabizwire.com)
