Exclusive
Kim Ye-seong, 'Butler' to Kim Keon-hee, Serves as Auditor at Chemtech, a Company Owned by the Younger Brother of DL Group's Chairman

[비즈한국] It has been confirmed that Kim Ye-seong, known as the "butler" to First Lady Kim Keon-hee, is currently serving as an auditor for Chemtech. Chemtech is a company led by Lee Hae-chang, the younger brother of DL000210 Group Chairman Lee Hae-wook, and its current primary business is the sale of toothpaste under the "Coralie" brand.

Kim Ye-seong was appointed as an auditor for Chemtech in March 2020. He was reappointed in March 2023 and continues to hold the position. At the time of his initial appointment in 2020, Kim was an executive at IMS Mobility (formerly Be My Car). Chemtech is a trading and chemical company, and it is difficult to find any business connection to IMS Mobility. However, given that Kim served as an auditor for Covana Contents from 2012 to 2015 and held a position as Vice President at Kakao Pay Securities (formerly Baro Investment & Securities), his appointment as an auditor cannot be deemed entirely inappropriate.

The Kim Keon-hee special counsel team is currently investigating Kim Ye-seong on suspicions of receiving quid-pro-quo investments from large corporations. Kim is currently a fugitive abroad. Despite being in a situation where he cannot properly perform his duties as an auditor, his name remains on the company's registry.

Removing an auditor requires the approval of at least two-thirds of the shareholders present and one-third of the total shareholders at a general shareholders' meeting. Since the family of CEO Lee Hae-chang holds 100% of Chemtech's shares, dismissal via a shareholders' meeting is not an impossible scenario.

Coincidentally, Chemtech's revenue has shrunk significantly since Kim Ye-seong joined the company. After reaching 81.5 billion won in 2019, it dropped by 66.42% to 27.4 billion won in 2020. It has continued to decline steadily since then, recording 7 billion won in 2023.

Chemtech is well-known as the company of Lee Hae-chang, the younger brother of DL Group Chairman Lee Hae-wook. According to the audit report, as of the end of 2023, CEO Lee Hae-chang holds a 74.24% stake in Chemtech. The remaining 25.76% is held by his eldest daughter, Lee Joo-young. Chemtech was previously classified as an affiliate of DL Group under the Fair Trade Act but was excluded in 2022 after receiving approval for independent management by relatives. Since being exempted from mandatory external audits in 2024, Chemtech has not disclosed specific financial details.

Bizhankook reached out to Chemtech to ask for the reasons behind Kim Ye-seong’s appointment as an auditor, but did not receive a response.