Namho Kim, Honorary Chairman of DB Group: "I Never Considered Opposing My Father"…Dismisses Rumors of Discord

Namho Kim, Honorary Chairman of DB Group, dismissed recent controversies over a management rights dispute, stating, "I have never considered standing up to my father, the founder."

On March 9, Kim released a statement saying, "Recently, there have been many misunderstandings and exaggerated stories about my relationship with my father, which have caused concern for many people," clarifying his position.

He added, "Although there have been some disagreements with my father regarding the company's management, I have never considered opposing my father, the founder, and I will never do so in the future."

Namho Kim, Honorary Chairman of DB Group. DB Group.

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Kim also said, "DB Group is a company that has grown based on stable management rights centered around its founder, and we are establishing a new tradition where the chairmanship of the group alternates between major shareholders and professional managers."

As the eldest son of Junki Kim, the founder and Honorary Chairman of DB Group, Namho Kim stepped down from the frontlines of management last year at the age of 50, transitioning from Chairman to Honorary Chairman. At the same time, Lee Sugwang, former President of DB Insurance and a close aide to the founder, became the group chairman, leading to suspicions that there might have been a management rights dispute between father and son.

Kim stated, "I believe it is entirely my fault that unnecessary misunderstandings about the company have occurred, and I deeply reflect on this."

He further emphasized, "As a member of the major shareholder family, I will continue to fulfill my responsibilities for the development of the group," and added, "I hope that unnecessary misunderstandings toward myself and DB Group will come to an end."

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