Kang Jung-seok has succeeded his father as chairman of Dong-A Socio Group, which runs Dong Pharmaceutical, marking the firm’s transition to the third generation, the company said on Jan. 3.
The 52 year-old heir’s rise to chairman marks the final piece of a long-planned leadership shift at the firm which was founded by his grandfather and led for decades by his father.
The junior Kang’s father Shin-ho, 88, has been named honorary president of Dong-A Socio Holdings
, the holding company of the group that consists of subsidiaries engaged in medicines, beverage and logistics.
The new chairman joined Dong-A Pharmaceutical in 1989, after earning a master’s degree in pharmacy from Sungkyunkwan University.
When it comes to equity ownership, the succession is already complete. In 2013, the former chairman handed over his entire stake in key Dong-A companies to the fourth son Jung-seok -- 11.8 percent of Dong-A Socio Holdings, the group’s holding firm, and 0.3 percent of Dong-A ST
By Park Han-na (firstname.lastname@example.org)