On Mar. 26, the board of directors at SK Inc., the holding company of South Korea’s second-largest conglomerate SK Group, appointed Kim Seon-hee, vice chair of Maeil Dairies, as board chair. The decision to place a high-ranking executive from an outside company at the helm of the group’s governance marks a significant break from long-standing corporate tradition.
Kim first drew attention in 2021 when she joined SK Inc. as an outside director. Now, she has stepped further into the spotlight by assuming the board’s top post. As the longest-serving outside director among the company’s five board members, Kim was reportedly appointed unanimously, with her deep familiarity with the group and extensive background in finance and management cited as key factors in her selection.
The same day, food manufacturer Otoki named Chang Ki-geon, senior vice president and chief procurement officer at global semiconductor leader Qualcomm, as an outside director. Widely regarded within Qualcomm as an expert in global supply chains, Chang is expected to bolster Otoki’s international strategy as the company accelerates its overseas expansion.
These developments signal a shift in boardroom dynamics at South Korea’s major corporations. Corporate boards function as both strategic control centers and oversight bodies, tasked with setting executive terms and compensation. In markets such as the United States, it is common to bring in experienced executives from other firms to serve on boards.
In South Korea, however, boards have traditionally been populated by academics, former government officials, and legal professionals—many with limited direct business experience. This has drawn criticism that boards function merely as formalities. But with recent appointments of board chairs from the executive ranks of other firms, there are signs of a broader movement toward greater independence and operational expertise.
When Naver, South Korea’s leading IT company, named Byun Dae-gyu—founder and chair of Humax Holdings—as its board chair in 2017, the decision was considered groundbreaking. At the time, it was rare for someone actively running a separate business to also serve as an outside director or board chair.
Subsequent examples followed. In 2022, POSCO International appointed Lee Haeng-hee, then CEO of Corning Korea, as an outside director. Samsung Electronics brought on Kim Jong-hoon, chairman of Kiswe Mobile, as a board member in 2018. Back in 2009, Nongshim Chairman Sohn Wook simultaneously served as board chair of POSCO while still leading his own company—a particularly unusual arrangement at the time.
This year’s shareholder meetings have continued the trend, bringing in a wave of board appointments emphasizing real-world experience and industry know-how.
On Mar. 26, Kakao, a major South Korean tech firm, appointed Ham Choon-seung, president of PH&Company, as board chair. A veteran investment executive, Ham previously led Citigroup Global Markets Securities Korea from 2004 to 2013. On Mar. 25, Lotte Chilsung Beverage named Park Chan-ju, former executive at CJ CheilJedang and current CEO of DKSH Performance Materials Korea, as an outside director. Park brings extensive experience in international sales and marketing. SK Innovation is set to appoint Gong Sung-do, CEO of Tullis Russell Coaters Korea, as an outside director on Mar. 28. Gong has held previous leadership roles at BP Korea and GE Energy, and is recognized as a seasoned figure in the energy sector.
Internationally, the practice of appointing seasoned executives to corporate boards is well established. Apple CEO Tim Cook sits on Nike’s board, while NVIDIA has Arthur Levinson, CEO of Google-affiliated Calico, as a director. Hugh Johnston, executive vice president at Disney, also serves on the board of Microsoft.
Samsung Electronics Chairman Lee Jae-yong likewise served as an outside director for Exor, the holding company of Italian automaker Fiat Chrysler Group (FCA), from 2012 to 2017.
