Young leaders at Korea’s conglomerates value work-life balance

Shinsegae Group Vice Chairman Chung Yong-jin with his twins [Photo captured from Chung Yong-jin‘s instagram]

Leaders of South Korea’s conglomerates that are mostly third- or fourth-generation members of the owner families are more considerate of work-life balance at work as they regard family as important, unlike the previous generations that devoted all of their time in growing their businesses.

According to multiple sources from the business circle on Tuesday, an increasing number of conglomerate owners are engaged in efforts to seek balance between work and family, like Shinsegae Group Vice Chairman Chung Yong-jin, 54, who uploaded an Instagram post in February of his twin children washing dishes.

Chung posted the video with a message saying that he is teaching his children to do the dishes, which received more than 24,000 likes. Chung married a flutist in 2011 and had a twin in 2013. He often uploads photos of him cooking and traveling with his children, which suggests that he spends considerable time with his family.

Industry insiders note that third- and fourth-generation conglomerate members out in the business front care more about employees’ childcare environment and work-life balance than the previous generation leaders. They also think about measures to expand corporate welfare.

Dong Kwan Kim, 39, vice chairman of Hanwha Group and the eldest son of Hanwha Group Chairman Seung Youn Kim, gave birth to a son in December. The baby boy is the first child for Kim and the first grandchild of the older Kim. He is also the fourth-generation member of Hanwha Group.

Dong Kwan Kim, 39, vice chairman of Hanwha Group and the eldest son of Hanwha Group Chairman Seung Youn Kim [Photo provided by Hanwha Group]

Until the baby was born, Dong Kwan Kim, who also serves as Hanwha Solutions Co. president, spent much time in the U.S. to look after the company’s solar power business. He is now known to be spending more time in Korea.

“We are aware that Kim often buys baby products and toys from his overseas business trips,” said an unnamed conglomerate official.

HD Hyundai Co. President and Chief Executive Officer Chung Ki-sun, 40, is also a father of two children that are each one and two years old. He is known to spend much time with his family and look after his children.

Chung attended the opening of an in-house nursery inside the HD Hyundai’s headquarter building in Pangyo in Seongnam, near Seoul. Initially, HD Hyundai Chairman Kwon Oh-gap, a professional manager, had planned to attend the ceremony but Chung said he wanted to meet the children there.

“I am also a father of two children and I know how difficult it is to hold a job and look after the children at the same time,” Chung is known to have said. “We opened the nursery with the thought that an HD Hyundai employee should not experience such difficulty.”

Lee Boo-jin, president and chief executive officer of Hotel Shilla Co., is also an avid mother. Despite the busy schedule, Lee attended the graduation and entrance ceremonies of her son as well as presentations and parent meetings.

She has often been spotted grocery shopping at Shinsegae Department Store in central Seoul after work.