Kim Seok-won, the former chairman of SsangYong Group who once elevated the company to the 6th rank in the corporate hierarchy, passed away on the 26th at the age of 78.
A representative from the Seonggok Media and Culture Foundation stated, "Former Chairman Kim Seok-won passed away due to illness around 3 a.m. today." Seonggok is a reverential name for Kim's father, Kim Seong-gon, who was the founder of SsangYong Group.
Hailing from Daegu, Kim graduated from Seoul High School and entered Brandeis University in the United States' economics department in 1966. While studying in the U.S., he returned to Korea in 1970 and voluntarily enlisted in the Marine Corps, serving as a reconnaissance unit member during the Vietnam War for 10 months.
In 1975, following the passing of SsangYong Group's founder, Kim Seong-gon, Kim Seok-won assumed the position of chairman at the young age of 30. SsangYong Group traces its roots back to the Samsong Soap Factory Joint Venture Company founded in Daegu in 1939. Later, in 1962, SsangYong Yangho was established, initiating the use of the name "SsangYong."
Under Kim's leadership in 1975, the group aggressively expanded its businesses, significantly increasing the company's scale. He established SsangYong Heavy Industries and SsangYong Engineering & Construction, and ventured into the petroleum industry. Furthermore, in 1983, he acquired Hyosung Securities.
Kim had a keen interest in the automotive industry, and in 1986, he entered the automobile sector by acquiring Dong-A Motor. He secured the management rights by offering a price higher than the market value, surpassing Samsung. Consequently, Dong-A Motor was renamed SsangYong Motor in 1988.
In that year, SsangYong introduced the "Korando Family," leading the domestic Sports Utility Vehicle (SUV) market. Kim Seok-won was often seen commuting in a Korando himself. In 1993, the mid-sized SUV "Musso" and the large sedan "Chairman," developed using technology from Germany's Mercedes-Benz, were also unveiled.
Under Kim's leadership, SsangYong Group experienced steady growth, briefly reaching the 6th position in the corporate hierarchy. Kim Seok-won, along with Kim Seung-yeon of Hanwha Group and Kim Hyun-chul of Sammi Group, was recognized as one of the "3 Kims of the Corporate World."
However, he also made a foray into the political arena. In 1996, he started his political career by advocating the "Junggyeongdong-ban Development Theory" and was elected as a candidate for the 15th National Assembly election for the Shinhan Korea Party. Consequently, the group's management rights were handed over to his younger brother, Kim Seok-joon.
The group faced challenges, including deficits in SsangYong Motor and the IMF financial crisis. As a result, in 1998, the decision was made to sell SsangYong Motor to Daewoo Group. The group's situation did not improve afterward, and by the late 1990s, it reached a point where dissolution seemed inevitable.
Kim Seok-won is also recognized for laying the foundation for the development of domestic winter sports and leisure industries. In 1974, he founded Yongpyong Ski Resort, developing it into a resort. This initiative was a crucial step in establishing the ski and resort industry.
In a 2011 interview with a media outlet, Kim said, "I used to ski during my time studying abroad. Korea has mountains, winters, and snow, so I wondered why people couldn't enjoy skiing. With courage, I thought about creating a ski resort in Yongpyong."
Additionally, in 1982, he was elected as the President of the Korea Scout Association, contributing to the scout movement. He played a significant role in attracting and successfully organizing the 1991 World Scout Jamboree held in Goseong, Gangwon Province.
At the Munich Scout Congress in 1985, when Korea was chosen as the host of the 17th World Scout Jamboree, Kim stated, "I examined countless variables by visiting the Seoraksan camping site. Since then, from 2000 to 2003, he served as the chairman of the World Scout Foundation (WSF).
Kim Seok-won is survived by his wife, Park Moon-soon, and his sons Kim Ji-yong (Chairman of Kookmin Education Foundation), Kim Ji-myeong (CEO of JJ Food Systems), and Kim Ji-tae (Vice President of TaeA Industries).
The funeral for Kim Seok-won will be held privately, and the wake will take place at Severance Hospital in Sinchon, Special Room 1. The departure ceremony will be held at 7:20 a.m. on the 29th, and the burial will be located in Yongpyong, Gangwon Province.
