South Korea’s Richest 2019: Tuna Kahuna Kim Passes The Baton Of Fishing Behemoth Dongwon To Heir by Forbes – Entrepreneurs

Serebral360° found a great read by Forbes – Entrepreneurs article, “South Korea’s Richest 2019: Tuna Kahuna Kim Passes The Baton Of Fishing Behemoth Dongwon To Heir.”

Add another layer to your #Business literacy. We at Serebral360° would love to know if the Forbes – Entrepreneurs article was helpful, leave a comment, like and share. Let’s dive in and discuss the information and put it to use to grow your business. #BusinessStrategy #ContentMarketing #WebDevelopment #BrandStrategy
Info@serebral360.com 762.333.1807 www.serebral360.com
Grap a copy of our NEW Business Stratgety Books #FFSS VOL1 and #FFSS VOL2

This story is part of Forbes’ coverage of Korea’s Richest 2018. See the full list here.

South Korea’s tuna tycoon, 84-year-old founder Kim Jae-chul, used the April celebration of Dongwon Group’s golden jubilee to hand his chairmanship to his son Kim Nam-jung (No. 28). The 46-year-old heir had been groomed to take over the food and logistics conglomerate since being named the group’s vice chairman in 2013.

While Dongwon is now South Korea’s largest deep-sea fishing company, the senior Kim started it in 1969 with nothing more than two employees and a fishing boat. He’s stepping down as honorary chairman and is likely to continue advising his son, according to a company representative.

Dongwon’s succession plan appears to have sidestepped the kind of power struggles often found at other South Korean conglomerates. The junior Kim holds roughly 68% of the group’s holding company, Dongwon Enterprise; his father 24.5%. Older brother Kim Nam-goo is chief executive and the largest shareholder (20.2%) in Korea Investment Holdings, a financial services company created in 2003 when Dongwon spun it off. That gave each son his own business to avoid competition.

Editor’s Note: Unless otherwise noted, all stock performances and changes in net worths are based on share prices and exchange rates as of the date of last year’s calculation, May 25, 2018, until the close of markets June 21, 2019.

July 9, 2019 at 05:49PM
https://www.forbes.com/sites/pamelaambler/2019/07/09/south-koreas-richest-2019-tuna-kahuna-passed-the-triton-on-dongwon/
Forbes – Entrepreneurs
http://www.forbes.com/entrepreneurs/
http://bit.ly/2CMy7Yu