S. Korea's GS Group goes under fourth gen management

GS Group, South Korea’s seventh conglomerate, has become younger as it joins LG Group whom it shares the founding roots to complete hereditary succession to the fourth generation.

Hur Sae-hong, chief executive of GS Global Corp. and fourth-generation of GS Group’s founding family, has been appointed as chief executive of the the conglomerate’s flagship GS Caltex Corp. on Tuesday.

Hur, 49, will replace Huh Jin-soo, younger brother of GS Group Chairman Huh Chang-soo. Hur is the oldest son of Huh Dong-soo who was at top post of GS Caltex for 20 years before his cousin Jin-soo took over.

Hur received much attention when he was the first fourth-generation member of the GS founding family to take on the role of chief executive of GS Group’s subsidiary GS Global. The latest executive reshuffle is seen as GS Group formally launching fourth-generation management.

The Huh family was co-founders of the LG Group with the Koo family in 1947 before running their own conglomerate in 2005 by spinning off petrochemical, construction, and retail units.

In the latest executive reshuffle, Huh Yong-soo, chief executive of GS EPS Co. and third-generation of GS Group’s founding family, was tapped to lead GS Energy Corp.

An unnamed official from GS Group said that the latest reshuffle focused on positioning next-generation leaders with proved management capability up front and appointing talented personnel capable of bolstering organizational change and energy.

Huh Yoon-hong, senior management director at GS Engineering & Construction Corp. and the only son of GS Group Chairman Huh Chang-soo, was promoted to vice president.

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