Third-generation female Oner executives are taking the helm in Korea's traditional manufacturing sector. They include Chief Executive Kim So-won of TYM Co., Chief Executive Kim Hyun-jung of Samhwa Paint (now SP Samhwa), and Chair Choi Hyun-soo of the integrated paper manufacturer KleanNara.
They are called the "three mid-sized manufacturing female leaders," and are pushing full-scale business model shifts beyond their fathers' legacy manufacturing frameworks, led by strategies such as digital transformation, advanced new materials, and strengthening healthcare.
◇ Leadership of third-generation female Oner executives shaking up traditional manufacturing
TYM Co. said on the 1st that it would appoint Chief Strategy Officer (CSO) Kim So-won as chief executive. TYM Co., a leading mid-sized domestic farm machinery manufacturer with sales of 930 billion won last year, named Kim as its first female CEO since its founding.
Kim is the eldest daughter of TYM Co. Chair Kim Hee-yong and the granddaughter of the late honorary chair Kim In-deuk, founder of BYUCKSAN Group. TYM Co. was spun off from BYUCKSAN Group in 2004. Joining the company in 2005, Kim has led corporate restructuring for about 20 years across key posts including public relations and management support. In particular, she focused on strengthening ICT capabilities by promoting Autonomous Driving tractor development and building a telematics system based on digital transformation (DX).
Kim presented a vision to transform TYM Co. into a "software-defined vehicle (SDV) company." The strategy is to leap beyond simple farm machinery manufacturing and become an AI- and data-driven precision agriculture solutions company.
SP Samhwa, with annual sales of 620 billion won, promoted Executive Vice President Kim Hyun-jung to president in January and appointed her as the new chief executive. Kim is the granddaughter of the late Chair Kim Bok-gyu, SP Samhwa's co-founder. She took over management after the death of her father, former Chair Kim Jang-yeon, in December. She also inherited equity to become the largest shareholder (25.8%). A certified public accountant (CPA) and attorney, Kim oversaw overseas strategy and finance after joining SP Samhwa.
Last month, Kim removed the word "Paint" from the corporate name and changed it to "SP Samhwa," signaling a shift in business identity. The core strategy is to expand into advanced new materials. While maintaining competitiveness in the existing coatings business, the company is extending its portfolio into high value-added areas such as semiconductor and secondary battery materials, and energy materials for solar power and offshore plants.
KleanNara is led by Chair Choi Hyun-soo. A third-generation Oner executive following the late founder Choi Hwa-sik and Honorary Chair Choi Byung-min, Choi took office as chair in December. After serving as head of the household goods business division and head of overall operations, Choi became CEO in 2019 and has pushed organizational reform by introducing eco-friendly product development and a resource-circulation production system.
Recently, the company has been accelerating diversification. On the 27th, KleanNara approved an amendment to its articles of incorporation at a shareholders meeting to add the distribution and sales of healthcare and beauty devices to its business purposes. The plan is to shift from a manufacturing-centered company to a lifestyle, materials, and resource-based platform company. With sales of 508.2 billion won and an operating loss of 22.6 billion won last year, the company aims to improve its revenue structure and drive a rebound in results through diversification.
◇ Younger brothers are the largest shareholders…a variable in succession
All three female Oner executives have younger brothers, making future succession structures a potential variable. Chief Executive Kim So-won's younger brother is Executive Vice President Kim Sik of TYM Co. In terms of TYM Co.'s equity, Executive Vice President Kim Sik is the largest shareholder with 22.09%, while Kim holds about 4.46%.
Chair Choi Hyun-soo also has a younger brother. Chief Operating Officer (COO) Choi Jeong-gyu of KleanNara was reappointed as an inside director at last month's shareholders meeting and is participating in management. COO Choi is the largest shareholder with 16.12% of KleanNara's equity, while Chair Choi's equity stake is 7.70%. Chief Executive Kim Hyun-jung has a younger brother, but he holds no SP Samhwa equity and does not take part in management.
A business community source said, "Although three third-generation female Oner executives are stepping to the forefront of management, future succession structures are likely to vary depending on equity structures and management performance."