Press Release

▲ At the “Korean Business Hall of Fame” induction ceremony held on the 24th at the 60th Anniversary Hall of the College of Business Administration at Ewha Womans University in Seoul, Doosan Group Chairman Jeongwon Park (right) poses for a commemorative photo with Hee-dong Yang (left), Chairman of the Korean Academic Society of Business Administration (KASBA), holding a commemorative plaque.

The late Maeheon Park Seung-jik, founder of Doosan Group, and the late Yonkang Park Too-pyung, its first chairman, who laid the foundation of the Doosan Group, have been inducted into the “Korean Business Hall of Fame.”

Doosan announced on the 24th that both Park Seung-jik and Park Too-pyung were inducted at the “Korean Business Hall of Fame” induction ceremony held at the 60th Anniversary Hall of the College of Business Administration at Ewha Womans University in Seoul, hosted by the Korean Academic Society of Business Administration (KASBA).

Since 2016, KASBA has selected and inducted business leaders who have made significant contributions to the development of the Korean economy. This marks the first time that a father and son have been inducted simultaneously.

Jeongwon Park, Chairman of Doosan Group and the eldest grandson of Park Too-pyung, attended the ceremony. Chairman Park stated, “The founding spirit and pioneering mindset of our predecessors, who walked paths no one had taken before, with the heart of a true pioneer, have been passed down through Doosan’s DNA,” adding, “We will carry forward their entrepreneurial spirit of embracing constant new challenges to build Doosan into a better company and contribute to the development of the national economy.”

Founded in 1896 with the opening of “Park Seung-jik Store” in Jongno, Doosan is celebrating its 130th anniversary this year and is officially recognized as the longest-running company in Korean corporate history.

Founder Park Seung-jik began as a peddler and expanded his business into fabric retail, trade, brewing and transportation. He is particularly recognized for laying the foundation of modern Korean commerce through initiatives such as transitioning to a joint-stock company and expanding into trade.

He also played a leading role in the Korean business community. By heading merchant organizations such as the Gyeongseong Drapery Dealers Association and the Textile Mutual Aid Association, he worked to protect merchants’ rights. He also contributed to the development of the national economy by participating as a founding promoter of institutions such as the Chosun Commercial Bank and Gwangjang Corporation.

First Chairman Park Too-pyung was the entrepreneur who transformed Park Seung-jik Store into a modern corporate group. In 1946, he renamed the business “Doosan Store” and, despite the post-liberation period of turmoil, established a manufacturing-centered business structure that laid the groundwork for growth. Beginning with Oriental Brewery, he fostered the food and beverage industry and expanded the company’s business portfolio into construction, food, machinery, and glass.

During his tenure, Chairman Park established and operated a total of 13 affiliates, achieving a 349-fold increase in group revenue. He also served as Chairman of the Korea Chamber of Commerce and Industry and Chairman of the Confederation of Asia-Pacific Chambers of Commerce and Industry, leaving a significant legacy in Korea’s industrialization process. His election as Chairman of the Confederation marked the first time a Korean private-sector business leader headed an international economic organization. After stepping down, he was named honorary chairman for life.

KASBA explained the reasons for the induction, stating, “Founder Park Seung-jik laid the foundation for modern Korean corporate history by establishing the basis for modern corporate organization and responsible management, thereby creating the institutional groundwork for the development of Korean enterprises.” It added, “Chairman Park Too-pyung’s initiatives, including business diversification and overseas market expansion, represent exemplary cases that enhanced corporate competitiveness during the early stages of Korea’s industrialization. As Chairman of the Korea Chamber of Commerce and Industry, he also contributed to improving the business environment and establishing institutional foundations, thereby exerting a structural impact on the national economy.”