As the K-Food trend continues, the second and third generations of major domestic food companies in South Korea are stepping into leadership roles, taking charge of global and new business initiatives. Unlike previous generations who primarily focused on domestic sales and production, there is a clear trend of evaluating management capabilities through overseas operations.
According to industry sources on July 15, Nongshim has recently established a 'Global E-commerce Task Force' dedicated to overseas online business, appointing Shin Soo-hyun, the daughter of Chairman Shin Dong-won, to lead it. Shin Sang-yeol, the chairman's eldest son, became CEO of Nongshim Holdings America last year and is now overseeing the company's operations in China as an executive in Hong Kong. His sister, Shin Soo-jung, is also actively involved in product marketing, indicating that the third generation is being integrated into key organizational roles.
At Lotte Group, Shin Yoo-yeol's role is expanding. He has recently taken on the chairmanship of a joint venture in Singapore established by Lotte Wellfood in Korea and Lotte Confectionery in Japan, overseeing the global strategy for the Korean and Japanese food businesses. Orion's third-generation leader, Dam Seo-won, is also managing the strategic management division, which includes an overseas business team focused on expanding into global markets and overseeing new ventures in biotechnology.
Samyang Foods is solidifying its succession plan through share transfers. Chairman Kim Jeong-soo recently gifted 200,000 shares of Samyang Foods to his son, Jeon Byeong-woo, COO, and daughter, Jeon Ha-young. This move positions Jeon Byeong-woo as a major shareholder in both the holding company, Samyang Round Square, and the core business entity, further strengthening the succession foundation.
Meanwhile, Sangmidang Holdings has launched a new leadership structure under CEO Heo Jin-soo, reorganizing the group's operational framework. The holding company will focus on discovering new business opportunities, global strategies, and investment functions, while the affiliates will enhance their accountability through the 'Sangmidang Council.'
The proactive involvement of the second and third generations is closely tied to the global growth of K-Food. The domestic food market faces limitations due to population decline and sluggish domestic demand, while overseas markets continue to show steady demand for products like ramen, snacks, and sauces. In fact, Samyang Foods has seen its overseas sales exceed 80%, with Nongshim, Orion, and Lotte Wellfood also prioritizing international expansion as a key growth strategy.
As a result, it has become common for successors to be assigned to global operations before domestic sales. They are responsible for leading organizations that drive future growth, from managing overseas subsidiaries to developing global brand strategies and investing in new businesses. The simultaneous growth of K-Food and generational transition has made global business the first test for these successors.
An industry insider noted, "In the past, management training focused on production and sales, but now global business experience is considered an essential competency for future leaders. As overseas operations increasingly influence performance, companies will likely assign successors to global organizations and future business initiatives more frequently."
* This article has been translated by AI.
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