Chaebol see leadership change in COVID-19 era
Samsung, Hyundai Motor welcome 3rd-generation scions to top post
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(From left) Samsung Electronics Vice Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Euisun, SK Group Chairman Chey Tae-won, and LG Group Chairman Koo Kwang-mo.
Overwhelmed by the unprecedented COVID-19 pandemic this year, South Korea’s conglomerates have gone all-out to overhaul their business structures in light of the crisis.
Additionally, key groups embraced leadership changes, with third or fourth-generation scions officially taking the front line, and appointed young talents to strategic posts -- signaling a new generation cycle in the business realm.
Stepping into the spotlight was Lee Jae-yong, chief of the No. 1 conglomerate Samsung Group and vice chairman of flagship Samsung Electronics, who officially succeeded to the throne when Chairman Lee Kun-hee died in October after several secluded years on his sickbed.