Summary
Park Yong-sung, the third son of Doosan Group’s founding chairman Park Too-pyung, is known for his brief tenure as the seventh chairman of Doosan Group. His chairmanship lasted only three months, from August to November 2005, amid a scandalous conflict with the previous chairman, Park Yong-oh. However, Park Yong-sung significantly contributed to the group by serving as the chairman of Doosan Heavy Industries & Construction (now Doosan Enerbility) for over 12 years, a key company within the group since the 2000s.
Doosan Group was managed under an emergency management committee, composed of the company’s presidents, from Park Yong-sung’s resignation in 2005 until Park Yong-hyun took over as the eighth chairman in 2009. During this period, major decisions were made, including the 2007 acquisition of Bobcat from Ingersoll Rand for $4.9 billion (about 5.7 trillion won).
Park Yong-sung is recognized for his strong advocacy among the third-generation family members for moving away from the group’s traditional focus on food, beverage, and consumer goods industries since the 1990s. He also played a significant role in external activities beyond corporate management, serving as the chairman of the Korea Chamber of Commerce & Industry, the Korean Sport & Olympic Committee, a member of the International Olympic Committee, and as the chairman of the board of Chung-Ang University.
Timeline
▲ September 11, 1940 = Born in Seoul.
▲ 1959 = Graduated from Kyunggi High School.
▲ 1965 = Graduated from Seoul National University with a degree in Economics.
▲ 1965 = Joined the Commercial Bank of Korea.
▲ 1969 = Obtained an MBA from New York University.
▲ 1974 = Appointed as the Planning Director of Doosan Group.
▲ 1976 = Executive Director of Doosan Machinery.
▲ 1977 = Executive Director of Dongyang Beer (Oriental Brewery).
▲ 1979 = Vice President of Dongyang Beer (Oriental Brewery).
▲ 1982 = Vice Chairman of the Korea Judo Association.
▲ 1984 = President and CEO of Dongyang Beer (Oriental Brewery).
▲ 1986 = Chairman of the Korea Judo Association.
▲ 1995 = President of the International Judo Federation.
▲ 1996 = Received the Gold Tower Order of Industrial Service Merit.
▲ 2000 = Awarded the Order of the Crown from the Royal Government of Belgium.
▲ 2000 = Chairman of the Korea Chamber of Commerce and Industry.
▲ 2001 = Chairman of Doosan Heavy Industries.
▲ 2002 = Appointed as a member of the International Olympic Committee (IOC).
▲ 2003 = Awarded the Legion of Honor from the Republic of France.
▲ 2005 = President and CEO of Doosan Infracore.
▲ 2005 = Chairman of Doosan Group.
▲ 2009 = President of the Korean Sport and Olympic Committee.
▲ 2009 = Chairman of the foundation board of Chung-Ang University.
▲ 2012 = Awarded the Mugunghwa Medal Order of Civil Merit.
