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"Said he would use his private wealth..." Park Young-woo's wife's company 'Young-il' moves to acquire stake in Dayou A-Tech

[비즈한국] It has been confirmed that 'Young-il' is pushing for an additional acquisition of shares in Dayou A-Tech002880. Young-il is a company where Han Yu-jin, wife of former Dayou Winia071460 Group Chairman Park Young-woo, is the largest shareholder. Following its purchase of a 3.07% stake in Dayou A-Tech at the end of last year, Young-il plans to acquire an additional 2.70% by this October. Former Chairman Park Young-woo is currently on trial for allegedly failing to pay employee wages. Although he previously expressed his intention to contribute his private wealth, he has yet to follow through. With the former chairman's family focusing on strengthening their control over Dayou A-Tech even while Dayou Winia Group employees remain unpaid, interest is growing regarding the background of these actions.

Dayou Winia Group effectively disintegrated after experiencing a management crisis in 2023. Some affiliates, such as Dayou AP and Dayou Global, were sold off, while others, including Winia, have filed for corporate rehabilitation with the court. Dayou A-Tech is practically the only entity still operating normally under the influence of former Chairman Park Young-woo. Dayou A-Tech is an automotive parts manufacturer that recorded 300.3 billion won in revenue and 21.1 billion won in operating profit in the first half of this year. Currently, the largest shareholder of Dayou A-Tech is former Chairman Park Young-woo with an 18.06% stake. His eldest daughter, Dayou A-Tech Vice President Park Eun-jin, also holds a 5.00% stake.

In this context, the fact that Young-il holds a stake in Dayou A-Tech draws attention. Young-il currently holds a 3.07% stake in Dayou A-Tech. Initially, Young-il did not have any shares in Dayou A-Tech, but it acquired them through several purchases at the end of last year.

According to BizHankook's investigation, Young-il plans to further acquire shares in Dayou A-Tech. It intends to purchase 1,263,537 shares (a 2.70% stake) between late September and late October, with plans to invest approximately 1.4 billion won.

Young-il is a company where former Chairman Park Young-woo’s wife, Han Yu-jin, serves as the largest shareholder and CEO. In effect, the voting rights for Young-il’s Dayou A-Tech stake belong to former Chairman Park’s side. According to the corporate registry, Young-il was established in 2021, and its business purposes include real estate trading, real estate leasing, and real estate management.

Former Chairman Park and his specially related parties hold over 45% of Dayou A-Tech’s shares. This is enough to maintain management control without significant issues. However, there is no guarantee that this stake will remain intact. For instance, the Dayou Winia Group affiliate Dongkang Holdings holds a 4.90% stake in Dayou A-Tech, and Dayou Haneul and Pureun Sansuwon each hold 3.67%. However, as Dongkang Holdings is in a state of capital impairment, its future is uncertain. Since Dayou Haneul and Pureun Sansuwon are subsidiaries of Dongkang Holdings, they are inevitably affected as well. Considering this situation, it is necessary for former Chairman Park’s side to secure additional shares of Dayou A-Tech.

However, questions have been raised regarding the source of Young-il’s funds. Its capital is a mere 100 million won at face value, and there is no news of any significant business activity. According to the Financial Supervisory Service's electronic disclosures, Young-il did not generate any revenue until 2023. At the time of its establishment, its headquarters was located at Dayou Tower in Gangnam-gu, Seoul, but after former Chairman Park Young-woo sold Dayou Tower last year, the headquarters was moved to an apartment in Seocho-gu, Seoul, where Han Yu-jin resides. It has effectively operated without a separate office.

According to the real estate registry, Young-il purchased a three-story mansion in Namyangju, Gyeonggi-do, this May and moved its headquarters to this address. The mansion is located near Dasan Ecological Park. As Dongkang Holdings also purchased land near Dasan Ecological Park in 2020, it appears that former Chairman Park Young-woo’s family has maintained a steady interest in real estate in Namyangju. BizHankook visited the residence on September 9, but the door was closed, and the curtains were drawn, making it impossible to see inside. There were no signs or other decorations.