Hong Jeong-do is a South Korean media mogul and journalist. He holds several key positions at the JoongAng Group, overseeing a diverse range of business sectors. As the CEO of JoongAng Group, he leads seven distinct business divisions, including newspapers, broadcasting, content studio, multiplexes, resorts, sports, and magazines. These divisions encompass established entities such as JoongAng Ilbo, JTBC, SLL, Megabox, Phoenix Hotels & Resorts, JTBC Golf, and HLL. Hong Jeong-do holds core roles within the organization, including the titles of CEO and Vice Chairman of JoongAng Holdings. Additionally, he serves as the Vice Chairman of JoongAng Ilbo and JTBC. His responsibilities extend to the realm of digital transformation, where he holds the position of Chief Digital Transformation Officer (CDXO).
Hong Jeong-do | |
|---|---|
 | |
| Born | November 11, 1977 Washington, D.C., U.S. |
| Education | MBA from Stanford University |
| Occupation(s) | Vice Chairman of JoongAng Holdings CDXO of JoongAng Ilbo & JTBC |
| Parent(s) | Hong Seok-hyun (Father), Shin Yun-gyun (Mother) |
| Relatives | Hong Jeong-hyun (Sister), Hong Jeong-in (Brother), Lee Kun-hee (Uncle & late chairman of Samsung), Hong Ra-hee (Aunt & spouse of Lee Kun-hee), Lee Jae-yong (Cousin), Lee Boo-jin (Cousin), Lee Seo-hyun (Cousin) |
| Korean name | |
| Hangul | 홍정도 |
| Hanja | |
| Revised Romanization | Hong Jeongdo |
| McCune–Reischauer | Hong Chŏngdo |
| Website | |
Life and education
editBorn on November 11, 1977, Hong Jeong-do is the eldest son of Hong Seok-hyun, who holds the position of Chairman at JoongAng Holdings. He started college as a history major at Yonsei University and completed a bachelor's degree in economics at Wesleyan University. He furthered his academic pursuits by obtaining a master's degree in business administration from Stanford University. His career commenced in 2005 when he joined the Strategic Planning Office of JoongAng Ilbo. By 2014, he assumed pivotal responsibilities, assuming the roles of CEO and President at JoongAng Media Network(JMnet, precursor of JoongAng Holdings), JoongAng Ilbo, and JTBC. His held the position of publisher of JoongAng Ilbo from 2018 to 2022. In October 2021, he was appointed as the Vice Chairman and CEO of JoongAng Holdings, JoongAng Ilbo, and JTBC. Furthermore, he serves as the Chief Digital and Transformation Officer (CDXO) of JoongAng Ilbo and JTBC.
Education
editMaster of Business Administration(MBA) from Stanford University Bachelor of Arts(BA) in Economics from Wesleyan University College of Liberal Arts, Yonsei University
Career
editApril 2022 – present CDXO of JoongAng Ilbo & JTBC
October 2021 Vice chairman of JoongAng Holdings
October 2021 – March 2022 Vice chairman and CEO of JoongAng Ilbo, JTBC
November 2018 – February 2022 Publisher of JoongAng Ilbo
January 2018 President and CEO of JoongAng Holdings, JoongAng Ilbo, JTBC
December 2015 President and CEO of JMnet, JoongAng Ilbo, JTBC
December 2014 Vice president and CEO of JoongAng Ilbo, JTBC
January 2014 CEO of JTBC, executive vice president of JMnet
January 2013 Executive vice president of JTBC
January 2012 Executive director of JTBC
December 2011 Founded and launched JTBC
April 2011 COO of JMnet, senior managing director of JoongAng Ilbo
January 2010 Managing director of Strategic Planning, JoongAng Ilbo
January 2009 Director of strategic planning, JoongAng Ilbo
May 2005 Strategic Planning Office, JoongAng Ilbo
2004-2005 Business consultant, Accenture(Korea)
JTBC's inception
editIn 2010, Hong Jeong-do took on the role of overseeing strategic planning at JMnet's broadcasting headquarter. The culmination of his efforts came on December 31 of that year when he marked a pivotal achievement by clinching first place in a process to select general programming channel operators conducted by the Korea Communications Commission. This achievement marked a significant breakthrough in the revival of TBC (Tongyang Broadcasting Company), the leading commercial broadcaster in Korea during the 1960s and 1970s. TBC was forced to cease operations in 1980 in the then military government’s efforts to consolidate media. JTBC officially embarked on its broadcasting journey on December 1, 2011. Along this path, the network achieved remarkable milestones, notably the groundbreaking 'Newsroom' scoop on government affairs in 2016. For an impressive span of five consecutive years, Sisa Journal awarded JTBC with the esteemed title of the 'Most Trusted Media’. Furthermore, JTBC left an indelible mark in the realm of entertainment with a string of hit dramas, including 'SKY Castle', 'The World of the Married', 'Reborn Rich', and 'Doctor Cha'. In addition to these successes, the channel produced a lineup of hugely popular entertainment shows, such as 'Hidden Singer,’ 'Phantom Singer,’ 'Ask Us Anything,’ and 'A Clean Sweep.’ strengthened JMnet's position in the entertainment industry.
Merger and acquisition of Megabox
editIn 2011, under Hong’s leadership, a significant merger and acquisition unfolded, bringing together the multiplex franchises Megabox and Cinus. In 2015, Megabox took another major step by acquiring the remaining 50% stake previously held by Korea Multiplex Investment(KMIC). This strategic move resulted in JoongAng Group obtaining complete control with a 100% stake, thereby consolidating ownership and securing full management rights. The merger and acquisition of Megabox represented a watershed moment for JoongAng Group, marking its entry into the dynamic entertainment industry. Building on this strategic milestone, the company leveraged its enhanced position to diversify its business endeavors. Megabox found success beyond the cinema screen business, expanding into production, investment, and distribution, with standout projects such as 'Hunt' and 'The Roundup' showcasing its growth.
Making history: first non-terrestrial broadcaster to secure Olympic broadcasting rights
editIn 2019, JTBC made history as Korea’s first non-terrestrial broadcaster to secure broadcasting rights for the Olympic Games. This achievement was the result of a significant meeting between Hong Jeong-do and IOC President Thomas Bach in Lausanne, Switzerland, during June of the same year, culminating in a formal signing ceremony. With the acquisition of the prestigious broadcasting rights, JTBC aims to exclusively broadcast the 2026 to 2032 Winter and Summer Olympics, reaffirming its commitment to premier sports coverage. Pioneering the Establishment of an IP-Centered Content Studio In 2020, JTBC Studio emerged as an independent content production entity, separating from JTBC in response to changing media trends driven by OTT platforms in the Korean media landscape. It was hailed as an innovative measure separating station(broadcasting) and studio(production) at the time. JTBC Studio swiftly ascended to become Korea's premier content production company. In 2021, it achieved remarkable sales of 558.8 billion won and an operating profit of 15 billion won. In 2022, JTBC Studio rebranded itself as SLL, boldly announcing its roadmap to lead in the global market as a content powerhouse. SLL expanded beyond captive content such as 'Reborn Rich,' diversifying into non-captive content production for platforms such as Netflix, giving rise to notable projects like ‘The Sound of Magic,' 'Money Heist: Korea - Joint Economic Zone,' 'Narco-Saints,' and content for Disney+, including 'Big Bet.'
Global activities
editVice Chairman Hong is actively engaged in various international organizations. He serves as a member of the World Association of News Publishers(WAN-IFRA) Asia Pacific Committee, the Friends of the Asia Foundation Korea Board of Directors and is a member of the prestigious Royal & Ancient Golf Club of St Andrews. His leadership qualities were recognized when he was named a Young Global Leader by the World Economic Forum(WEF) in 2010. Hong has been an active member of the WEF's Global Agenda Council, further solidifying his reputation as a media industry leader who is shaping the global discourse.
Family background
editGrandfather: Hong Jin-ki (March 17, 1917 ~ July 13, 1986) - Distinguished as the Chairman & CEO of JoongAng Ilbo and served as Korea’s Minister of Home Affairs. Grandmother: Kim Yoon-nam (June 25, 1924 ~ June 5, 2013) Father: Hong Seok-hyun (October 20, 1949 ~) - Chairman at JoongAng Holdings. Mother: Shin Yun-gyun - Currently serves as the Director of Arumjigi Culture Keepers Foundation. Younger Brother: Hong Jeong-in (March 1, 1985 ~) - CEO of Contentree JoongAng, Megabox, Playtime, and Medialink.