[비즈한국] An investigation by BizHankook has confirmed that Mins Holdings, a company established by the family of Koo Soo-jin, a non-executive director at Daebang Industrial Development and a second-generation owner of Daebang Construction, was dissolved last March. Mins Holdings, which specialized in management consulting and investment, had Koo Chairman’s grandsons, Yoon Seung-min and Yoon Hyung-min, as its largest shareholders. As the company was majority-owned by the third generation of the owner family, the reasons behind its sudden dissolution are drawing attention.
Mins Holdings is a family company where the family of Director Koo Soo-jin holds a 100% stake. The ownership structure consists of Director Koo (12%), her husband Yoon Dae-in, CEO of Daebang Industrial Development (8%), and their sons Yoon Seung-min (41%) and Yoon Hyung-min (39%).
Mins Holdings was founded in August 2022, with its primary business being management advice and consulting. At the time of its establishment, Director Koo was listed as the representative, and the initial capital was 50 million KRW. Two months after its inception, Director Koo and CEO Yoon loaned 200 million KRW to Mins Holdings. In May of last year, the company participated in a paid-in capital increase according to the shareholding ratios, bringing the total capital to 150 million KRW.
It appears that Mins Holdings focused more on investment activities than its primary business of management consulting. In a public filing made last May, the company stated that it had invested in various stocks for the purpose of increasing investment returns: 14.9 million KRW in Kumho PSC036190, 19.18 million KRW in Hankook & Company000240, 22.7 million KRW in SeAH Steel Holdings003030, 25.1 million KRW in SK Discovery006120, 25.1 million KRW in Hankook Tire & Technology161390, and 14.4 million KRW in Hi-Lok Korea.
In September of that year, the company reported the disposal of 50% of its SeAH Steel Holdings shares, and in December, it reported the disposal of 100% of its Hankook Tire shares, recovering 17.25 million KRW and 26.43 million KRW, respectively. Information regarding the disposal of other stocks remains unknown.
However, BizHankook’s investigation confirmed that Mins Holdings was dissolved on March 18 of this year following a resolution at a general shareholders' meeting. The company was dissolved just about a year and six months after its establishment. Since it had been engaged in investment activities until the end of last December, the background behind its sudden dissolution process has raised questions. With the dissolution of Mins Holdings, it is confirmed that there are no longer any affiliates or related companies where the third generation of the Daebang Construction Group owner family holds a major stake.
According to the Data Analysis, Retrieval and Transfer System (DART), the registration of Mins Holdings' dissolution was completed on March 25, and as of the end of May, the liquidation process was underway. Last year, Mins Holdings' total capital stood at 164 million KRW.
BizHankook reached out to Daebang Industrial Development regarding this matter, but an official from the company simply stated, "There is nothing we can confirm regarding this information."