Former DB Group Chairman Kim Jun-gi Returns After 3.5 Years... Appointed as Unregistered Executive at Affiliate

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[Asia Economy Reporter Lim Chun-han] Kim Jun-gi, former chairman of DB Group who stepped down in September 2017 due to a sexual harassment incident, was recently appointed as an unregistered executive at an affiliate company. It is reported that he will serve as an advisor to his son, Kim Nam-ho, who became the group chairman in July last year.

DB Inc., an IT and trading affiliate of DB Group, announced in its business report on the 23rd that founder Kim Jun-gi was appointed as an unregistered executive as of the 1st of this month.

DB Inc. effectively functions as a non-financial holding company within DB Group. DB Inc. holds a 12.42% stake in DB HiTek, which in turn holds a 26.94% stake in DB Metal, creating a controlling structure. Former Chairman Kim holds an 11.20% stake in DB Inc.

Kim resigned abruptly in September 2017 following the sexual harassment incident. Afterwards, Lee Geun-young, an advisor at Dongbu Insurance, took over as chairman. The era of second-generation management at DB Group began when Kim’s eldest son, Kim Nam-ho, assumed the chairmanship in July last year. In last month’s appeal trial, Kim was sentenced to 2 years and 6 months in prison with a 4-year probation, the same as in the first trial.

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