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Park Jeong-won tapped as Doosan Group's new chairman

All News 16:31 March 02, 2016

SEOUL, March 2 (Yonhap) -- Doosan Group, a power equipment and construction conglomerate, said Wednesday that Park Jeong-won, chairman of the group's de facto holding firm Doosan Corp., was designated as the group's new chairman.

Park, 54, will replace current chairman Park Yong-maan after he is elected the chief of Doosan Corp.'s board of directors later this month.

Usually, the chairman of Doosan's boardroom serves as the chief of the major family-controlled conglomerate.

Jeong-won, the eldest son of former Doosan Group chairman Park Yong-kon and also one of Yong-maan's nephews, had been rumored to be the next to take the helm of the business group.

After joining an affiliate of Doosan Group in 1985, he served as president of Doosan Engineering & Construction Co., and more recently worked at the group's de facto holding firm Doosan Corp.

Jeong-won has spearheaded the group's new businesses such as duty-free operations and fuel cells.

With Jeong-won's inauguration slated later this month, Doosan Group, which started as a small shop in 1896, will usher in the fourth-generation management.

Doosan Group has top power equipment maker Doosan Heavy Industries Co., No. 1 construction equipment maker Doosan Infracore Co., Doosan Engineering & Construction and a few other affiliates under its wing.


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