As Chairman Shin Chun-ho, the founder of Nongshim, passed away today (27th), Vice Chairman Shin Dong-won, the eldest son of Nongshim, is expected to rise to the next chairman.
Chairman Shin Chun-ho was officially withdrawn from management without being reappointed as an executive director at the regular shareholders' meeting of Nongshim on the 25th, two days before his death.
Vice-Chairman Shin Dong-won was re-elected as executive director along with vice chairman Park Joon at this shareholders' meeting, and vice president Young-jin Lee was newly appointed as executive director.
Vice-Chairman Shin Dong-won joined Nongshim in 1979, served as Managing Director, Vice President, etc., and became President and CEO in 1997. In 2000, he was promoted to Vice Chairman and took over the management of Nongshim.
Nongshim recorded the highest performance in history with sales of KRW 2.639.8 billion, an increase of 12.6% from the previous year, thanks to the effect of'Zipcock' from Corona 19 last year and'Chapaguri' that appeared in the movie Parasite.
Operating profit also increased by 103.4% to KRW 1603.6 billion, the highest ever.
Among the three sons and two daughters of Chairman Shin Chun-ho, Nongshim has been organizing the succession structure from early on, centering on three sons, including Vice Chairman Shin Dong-Won, Vice Chairman Shin Dong-yoon, Yulchon Chemical Vice President, and Shin Dong-ik, Vice Chairman of Mega Mart.
Vice Chairman Shin Dong-won is currently the largest shareholder of Nongshim Holdings, the largest shareholder of Nongshim, and as of the end of last year, his holdings were 42.92%.
(Photo = Yonhap News)