The latest generation of heirs at South Korea’s family-controlled conglomerates is reaching the chairman’s office more quickly—and at a younger age—than their predecessors, according to a new study that highlights shifting succession patterns in Asia’s fourth-largest economy.
Research firm Leaders Index, which examined 233 owner-family executives across 66 major Korean business groups, found that fourth-generation successors took an average of just 12 years and seven months to rise from their first executive position to chairmanship. That compares with 17 years and 11 months for the third generation and 18 years and five months for the second generation.
The accelerated path has lowered the average age of ascension. While second-generation leaders assumed the top role at 52.6 years old on average, and third-generation chairmen at 49.1, fourth-generation heirs are taking over at an average age of 46.
Some have moved especially swiftly. Chung Ji-sun became chairman of Hyundai Department Store Group at 35, and Shin Chang-jae ascended to chairman of Kyobo Life Insurance less than two years after joining the company.
Others, however, have followed a more traditional, decades-long track. Nongshim Chairman Shin Dong-won took more than 40 years at the company before becoming chairman at 63, while Yulchon Chemical Chairman Shin Dong-yoon also spent about four decades before reaching the top.
Among Korea’s largest conglomerates, most chairmen still required more than 20 years to reach the top job, though sudden leadership changes have sometimes allowed heirs to assume control earlier.
Leaders Index said the data reflects a broader shift in how Korea’s conglomerates groom future leaders. Younger-generation executives are spending more time in upper management but less time accumulating hands-on field experience before taking the helm, a trend the firm links to a fast-changing business environment that pushes heirs into frontline management earlier than in the past.
