FSN Separates from Yellow Mobile Group... Major Shareholder Changes to 'J2B' Alliance

[Asia Economy Reporter Jang Hyowon] Future Stream Networks (hereinafter FSN), a comprehensive digital marketing specialist company, is completely separating from the Yellow Mobile group after 7 years.

On the 15th, FSN announced that its largest shareholder changed from Yellow Digital Marketing to J2B. J2B is a corporation established by the current FSN management team with the purpose of separating from the Yellow Mobile group. As of the 15th, J2B, co-led by FSN founder CEO Shin Changgyun of Kauli and FSN subsidiary Boosters CEO Seo Jeonggyo, holds a total of 20.86% of FSN shares.

FSN announced that at the extraordinary shareholders' meeting convened on the 15th, the proposal to newly appoint CEO Seo Jeonggyo as an inside director was approved. With Seo Jeonggyo’s appointment as inside director, J2B now holds the majority of FSN inside directors, securing effective management control and shedding the label of being a Yellow Mobile affiliate.

FSN founder CEO Shin Changgyun of Kauli stated, “Over the past several months, the current management and friendly shareholders have worked together to fulfill the necessary conditions for separation, and as a result, FSN has established a completely independent management foundation. We will take this separation as the second founding year of FSN so that the overall business capabilities FSN has built over recent years can be re-evaluated in the market and achieve a new leap forward.”

FSN CEO Lee Sangseok said, “Together with newly appointed inside director Seo Jeonggyo, we plan to reorganize the business and organization in various ways to enable FSN to grow faster, and to further strengthen the independent management system.”

The company stated that with the establishment of a responsible management system centered on the current management team following this separation, its top priority is to restore market trust, which had been downgraded mainly due to risks associated with the parent company. The company plans to further solidify its existing solid business structure based on ad tech, including ▲digital advertising marketing ▲overseas business ▲platform ▲blockchain ▲brand & commerce new businesses, and aggressively invest in new growth engines to grow into a leading company in the future market.

This content was produced with the assistance of AI translation services.