The first and second generation leaders of Korean enterprises have passed away, and the process of changing leaders is speeding up

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From left to right, Li Zairong, vice president of Samsung Electronics, Cui Taiyuan, chairman of SK group, Yu Guangmo, chairman of LG Group, and Zheng Yixuan, chairman of Hyundai Automobile Group
According to Yonhap news agency, after Li Jianxi, chairman of SamSung group, passed away in recent two years, leading South Korea to realize the “Hanjiang miracle” and lay the industrial foundation. These enterprises are also accelerating the transition from the first generation to the third generation.
Li Jianxi, late chairman of SamSung group (left)
Zhao lianghao, the former chairman of Hanjin group, known as the pioneer of Korean aviation industry, died of illness in April last year. His eldest son, Zhao Yuantai, took over as the head of the group. Jin Yuzhong, former president of Daewoo Group, and Hu Ziyu, honorary chairman of LG Group, also died of illness in December last year. Jin Yuzhong founded Daewoo industry, the predecessor of Daewoo Group, in 1967, leading Daewoo to grow into the second largest enterprise in China. As the eldest son of Hu Renhui, the founder of LG Group, Mr. Fu has led LG Group for 25 years, laying a solid foundation for the growth of LG into an international enterprise. In June 2018, Hu Benmao, the third chairman of LG Group, passed away, and his eldest son, Yu Guangmo, who was then the group’s executive director, became the fourth president.
In January this year, the founder of Lotte Group, Xin Gehao, passed away. The health status of Li Jianxi, chairman of SamSung group, and Zheng Mengjiu, former honorary chairman of Hyundai Automobile Group, became the focus of attention.
From the right, Li Zai Rong, Zheng Yixuan, Ju Guangmo, Cui Taiyuan
Li Jianxi was hospitalized in Samsung Seoul hospital for acute myocardial infarction in May 2014. Up to now, he was able to breathe autonomously and continued to receive rehabilitation treatment. However, he died the day before because of the sudden deterioration of his condition. After Li Jianxi inherited the management right from his father Li Bingzhe in 1987, he laid the foundation for the development of the semiconductor and mobile industries, the two pillars of Samsung. His eldest son, Li zaireng, was designated as the legal person of the group in 2018 and officially became the head of the group. Although his title is still vice-president, he has actually become the recognized third-generation leader.
On the 14th of this month, Zheng yixuanzi, then the chief vice president of Hyundai Motor Group, succeeded his father. Zheng Mengjiu was hospitalized due to illness. Although he has recovered his health, he still resigned as honorary president in order to promote the alternation of the old and the new and enterprise innovation.
In addition, although Hanhua group and GS group are still the second generation business system, the succession process of the third and fourth generation successors is also speeding up.