Korean executives getting younger: study

Executives at South Korea’s large businesses are fewer in number this year and are getting younger, a study found Wednesday.

According to recruiting company Unico Search, Korea’s top 100 companies had a total of 6,932 executives, around 100 fewer than last year. The majority, 60 percent, were between the ages of 45 and 54.

The most popular birth year for CEOs was 1962. The 27-person list of CEOs born that year includes Korean Air CEO Woo Ki-hong, GS Engineering and Construction CEO Lim Byeong-yong, Hyundai Engineering and Construction CEO Park Dong-wook, KCC CEO Chung Mong-ik and Doosan Chairman Park Jeong-won.

KCC, a provider of construction materials, has both the oldest and youngest executives: Honorary Chairman Chung Sang-young, 83, and his granddaughter Chung Jae-rim, 29, who serves as a director at the company. Chung’s son Chung Mong-jin is chairman.

The number of executives is expected to decline further early next year as companies undergo restructuring to cut costs and increase efficiency, Unico Search said in a report.

By Cho Chung-un (christory@heraldcorp.com)