Women in Korean Big Business

I'm often asked about the role of women in Korean business. My answer is that in some business sectors women have made great strides. Overall, however, Korean women have not made much progress gaining leadership positions. One exception is daughters of the family-run conglomorates. This article in Korea Times cites this change...

The place for women in tradition-bound chaebol families used to be at home, supporting chief executive fathers or brothers from the sidelines or waiting to be married to sons of other chaebol families.

Not any more, at least from the standpoint of a growing number of women in chaebol, who are not satisfied with this stereotype and putting themselves at the front line of management.

"Their image has shifted to one of capable business women," a business source commented. "They are second and third generation daughters of chaebol families who are well educated and ready to put what they learned into practice."

One of them is Chang Seon-yoon, 34, who stands out for her business leadership. The granddaughter of Lotte chairman Shin Kyuk-ho, she is the director of the overseas luxury brand division at Lotte Shopping. Lotte Shopping includes Lotte Department Store and Lotte Mart discount stores.

"Chang graduated from Harvard University and organized the launch of Avenuel, a luxury brand targeting upscale consumers, in March," a company official said.

The launch of Avenuel next to the main Lotte Department Store in Myongdong, downtown Seoul, was a boost for the company, which has a relatively weak image as an upscale department store compared to rivals Hyundai and Shinsegae.

She played a role in attracting Louis Vuitton and other top brands to Avenuel.

Lee Boo-jin, 35, the eldest daughter of Samsung Group chairman Lee Kun-hee, has also built her reputation as a capable business leader by serving as vice president of Shilla Hotel. She has been in charge of developing hotel management strategies.

Company officials said Lee takes care of upgrading service quality directly, taking business trips with company officials to benchmark quality services of the world’s best hotels.

She started a VIP members-only fitness club recently and brought more luxury brands to the hotel's duty free shop.

In another showcase of chaebol women’s departure from the past, the two daughters of Boryung Group chairman Kim Seung-ho lead corporate management.

Kim Eun-sun, the eldest daughter of the group owner, has been in charge of group management as vice chairman while the third daughter, Kim Eun-jung, is in charge of developing new businesses.

The younger sister, in particular, has made efforts to broaden the business domain of Boryung Medience, a cosmetics brand for children, by introducing two children’s clothing brands.

"Regardless of gender, chaebol owners share their experience and know-how with family members and teach them to become business leaders,"industry watchers said.