Same-School Alums Are Business Force

The Taekwang Group, which is currently being reborn into a composite financial company after taking over companies such as Ssangyong Fire and Marine Insurance, is growing into a mega broadcasting business by steadily aquiring cable broadcasting stations.

The new major business of Taekwang is the broadcasting business, led by Jin Heon-jin (44), the head of the affiliated company “T-Broad.” President Jin is a close Daewon High School friend of Chairman Lee Ho-jin (44), the youngest son of Taekwang’s founder Lee Im-ryong.

A Taekwang official said “The group is trying to discard its conservative image by concentrating on the broadcasting business which can appeal to consumers in a fresh way,” and added, “Chairman Lee and president Jin, who are both young in mind, are famous for knowing each others’ thoughts just by looking at each other.”

Ahn Seong-hoon (35), the Strategy Headquarters Business Innovation Director, who was appointed Hyosung Group’s assistant managing director last year when still in his mid-30s, is also an alumni of managing director Cho Hyun-sang (35), the youngest son of Chairman Cho Seok-lae. They both graduated from Cheong Woon Junior high school and Kyungbok high school.

Assistant managing director Ahn graduated from the Wharton Business School of the University of Pennsylvania in the U.S. and worked with director Cho as a consultant at Bain and Company. Ahn now plays a critical role with the group’s mergers and acquisitions unit at Hyosung.

I-park Sports president Lee Jun-ha, who worked as the head of public relations at Hyundai Motors and Hyundai Development Company, is also a Yongsan High School alumni along with Hyundai Development Company chairman Chung Mong-gyu (45). Lee changed the team name of “Busan Icons” to the current name “I-park” and successfully united the group’s image.

Lee In-yong (49), who moved from MBC to Samsung last year as a public relations executive, is a Seoul National University oriental history major senior of director Lee Jae-yong (38).

“Shinil High School – Korea University” Alumni in Business Circles-

Chairman Lee Woong-yeol (50) of Kolon Industries and chairman Chey Tae-won (aged 46) of SK Group are both graduates of Shinil High School and Korea University. Chairman Lee is four years senior to chairman Chey. Chairman Chey’s younger brother Chey Jae-won of SK E&S also graduated from Shinil High School.

There are many executives of Shinil High School and Korea University graduates in both Kolon and SK, although this may not be the reason for their positions.

At Kolon, vice president Kim Chang-ho (57) and director Yoon Chang-un (52) are both senior Korea University graduates of chairman Lee. Public relations director Choi Young-taek, who worked for a long time at LG before coming to Kolon, is also a two-year senior to chairman Lee of Shinil High School.

Former chief public prosecutor Kim Jun-ho (49), who was appointed vice chairman of SK which pursues ethical business, is also a Shinil High School and Korea University’ graduate. SK Telecom vice president Nam Young-chan (48) also graduated from Shinil High School.

SK directors Cho Gi-heng (47), Yoo Jeong-jun (44), and Kim Tae-jin (44) all graduated from Korea University.

In relation to this, both Kolon and SK emphasized that “these appointments are based on job performance. What high school or university they graduated from was not a factor.”

Sun-Mi Kim kimsunmi@donga.com