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40% of business heirs studied abroad: report

July 4, 2011 - 20:11 By 배지숙
Four out of every 10 conglomerate heirs have been educated abroad, a local institute revealed Monday.

The younger they were, the more likely they were to have been to high schools, universities and higher educational institutes overseas, said, a website dedicated to researching large corporations.

According to its report of 146 direct members and cousins of the owners of the 30 largest chaebol or family-run conglomerates here, 40.4 percent or 59 members have studied at foreign universities. Among them, 17 have been to foreign high schools, too.

The report said the portion of “yuhakpa,” or those who have studied abroad, has spiraled since 2000: 87 percent of those who are still in their 20s are alumni of foreign universities. Those on the list are heirs of Samsung, Hyundai, Hyosung, Hanwha, Kolon, Dongyang, CJ and others.

The institute suggested two very different portraits of chaebol training their successors.

While Lee Kun-hee, head of the nation’s largest conglomerate, Samsung, wanted his children to study abroad, Chung Mong-koo, head of Hyundai Motor, directed his children to study at local schools.

By Bae Ji-sook (