Samyoung ENC "End of Management Dispute... Agree to Join Forces for Company Development"

[Asia Economy Reporter Hyungsoo Park] Samyoung ENC, a company specializing in ship wireless communication equipment, announced on the 17th that the management dispute among the founder's children, which has continued since 2019, has been resolved.

A representative of Samyoung ENC stated, "CEO Hwang Jae-woo, former director Hwang Hye-kyung, and son-in-law Director Lee Seon-gi have reached a dramatic reconciliation," adding, "The three agreed to recognize the crisis facing Samyoung ENC, to which the founder, former Chairman Hwang Won, devoted his lifetime, and to contribute to the company's stability and development."

The parties involved in the management dispute decided to collectively withdraw all lawsuits, complaints, and accusations filed against each other.

The representative further explained, "We plan to request the court to change the adult guardian of former Chairman Hwang to the eldest son, CEO Hwang Jae-woo," and added, "We believe this is the most desirable choice for both former Chairman Hwang and the company."

During the management dispute, Samyoung ENC reorganized its structure into four headquarters and one research institute. The company stated that it has made efforts to promote work and improve the company through communication and cooperation among employees.

The representative added, "Based on the reconciliation among the disputing parties and siblings, we will prioritize the company's stability going forward," and said, "Building on this, we will strive to innovate the company and make another leap forward in the marine and ship equipment manufacturing sector."

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