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한상넷 로고한상넷

전체검색영역
DB Group heir promoted to vice president
Collected
2018.01.03
Distributed
2018.01.04
Source
Go Direct
Kim Nam-ho

Kim Nam-ho

Kim Nam-ho, the eldest son of the former chairman of Dongbu Group, has been promoted to vice president of DB Insurance Co., a move seen as speeding up the succession process after his father stepped down from management last year following harassment charges.

Kim, 43, is the largest shareholder of DB Insurance with a 9.01 percent stake. He also holds an 18.59 percent stake in DB Inc., the group’s holding entity. Kim Ju-won, his older sister and only sibling, is not involved in management.

DB Insurance is Korea’s third largest non-life insurance firm with a total asset of 48 trillion won ($45.1 billion) on a consolidated basis. It controls DB Life Insurance, DB Capital and other financial units in the group.

Kim received his MBA from Washington University before joining Dongbu Steel in 2009. He then moved to Dongbu Farm Hannong in 2013 and joined DB Finance Research Center under Dongbu Life Insurance in 2015. He was promoted to a senior executive post last year.

A company official dismissed rumors linking the recent appointment to a broader succession plan. “Kim is in charge of designing the group’s mid- to long-term plans at DB Finance Research Center. This role would remain more or less unchanged.”

The conglomerate has been under rigorous restructuring in recent years to shore up its finances. It is currently reorganizing the affiliates with a focus on finance, including insurance, securities and banking.

His father Kim Jun-ki, former chairman of Dongbu Group, resigned from his post last September after being sued by his secretary for sexual harassment.

By Lee Dong-in and Kim Hyo-jin

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