As the K-Food craze continues, the second and third generations of major domestic food companies are stepping into leadership roles, taking charge of global and new business initiatives. Unlike previous generations who primarily focused on domestic sales and production, there is a noticeable trend of these successors proving their management capabilities through overseas operations. The performance of international business has emerged as a key performance indicator (KPI) for evaluating both the future growth of companies and the qualifications and competitiveness of the next generation of leaders.
According to industry sources on July 15, Nongshim has recently established a 'Global E-commerce Task Force' dedicated to overseas online business, appointing Shin Soo-hyun, the daughter of Chairman Shin Dong-won, to lead it. Shin Sang-yeol, the chairman's eldest son, became the CEO of Nongshim Holdings America last year and is now overseeing the company's operations in China as an executive in its Hong Kong subsidiary. Additionally, Shin Soo-jung, the chairman's eldest daughter, is actively involved in the product marketing organization, indicating that the third generation is being positioned across key organizational areas.
At Lotte Group, Shin Yoo-yeol's role is expanding. He has recently taken on the chairmanship of a joint venture being established by Lotte Wellfood in Korea and Lotte Confectionery in Japan, overseeing the global strategy for the food business between the two countries. Meanwhile, Orion's third-generation leader, Dam Seo-won, is managing the Strategic Management Division, which includes an overseas business team, as he simultaneously oversees global market expansion and new ventures in biotechnology.
Samyang Foods is solidifying its succession foundation through share transfers. Chairman Kim Jung-soo recently gifted 200,000 shares of Samyang Foods to his eldest son, Jeon Byeong-woo, COO, and his daughter, Jeon Ha-young. As a result, Jeon Byeong-woo has become a major shareholder in both the holding company, Samyang Round Square, and the core operating company, Samyang Foods, further strengthening the succession groundwork.
Meanwhile, Sangmidang Holdings has launched a new leadership structure under CEO Heo Jin-soo, reorganizing the group's operational framework. The holding company will focus on discovering new business opportunities, global strategies, and investment functions, while the subsidiaries will enhance their accountability through the 'Sangmidang Council.'
The proactive involvement of the second and third generations is closely linked to the global growth of K-Food. The domestic food market faces limited growth potential due to population decline and sluggish domestic demand, while overseas markets continue to see steady demand for products like ramen, snacks, and sauces. In fact, Samyang Foods has reported that over 80% of its sales now come from international markets, with Nongshim, Orion, and Lotte Wellfood also prioritizing overseas expansion as a core growth strategy.
As a result, it has become common for management successors to be assigned to global business roles before domestic operations. They are responsible for leading organizations that drive future growth, from managing overseas subsidiaries and global brand strategies to overseeing international e-commerce and new business investments, thereby validating their management capabilities through performance. The simultaneous growth of K-Food and generational transition has made global business the first test for these successors.
An industry insider noted, "In the past, management training focused on production and sales, but now global business experience is considered an essential competency for future leaders. As overseas operations increasingly influence performance, companies will likely assign successors to global organizations and future business initiatives more frequently."
* This article has been translated by AI.
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