[비즈한국] The business community is focusing on the future moves of Kim Dong-jun (42), the eldest son of former Daou Kiwoom Group Chairman Kim Ik-rae (76). CEO Kim currently serves as the CEO of both Kiwoom Investment and Kiwoom Private Equity. He also concurrently serves as co-chair of the Board of Directors at Kiwoom Securities039490. His terms as CEO of Kiwoom Investment and Kiwoom Private Equity expire this March, with less than a month remaining. The business world is watching whether CEO Kim will choose to extend his tenure as CEO or shift his focus to the management of Kiwoom Securities.
Former Chairman Kim Ik-rae announced his resignation as chairman of Daou Kiwoom Group following the stock price crash triggered by Société Générale (SG) Securities in 2023. Former Chairman Kim currently serves as a non-executive director at subsidiaries such as Daou Data032190, Saramin, and Kiwoom F&I. While it is difficult to say he has retired completely from management, it is also difficult to view him as being in a core position.
Of course, as the leader of the Daou Kiwoom Group, the influence of former Chairman Kim Ik-rae cannot be ignored. In the business world, it was expected that after the former chairman stepped down, his eldest son, CEO Kim Dong-jun, would take the helm of the group. Former Chairman Kim has three children: eldest daughter Kim Jin-hyun (46), second daughter Kim Jin-yi (44, former executive director at Kiwoom Asset Management), and eldest son CEO Kim Dong-jun. Ms. Kim Jin-hyun does not participate in group management, and former executive director Kim Jin-yi resigned in 2023.
Looking at equity ownership alone, CEO Kim Dong-jun is the most likely successor. The governance structure of Daou Kiwoom Group follows the path: 'eMoney Co., Ltd. → Daou Data → Daou Technology023590 → Kiwoom Securities'. The shareholders of eMoney Co., Ltd. consist of CEO Kim Dong-jun (33.13%), Ms. Kim Jin-hyun (6.02%), former executive director Kim Jin-yi (6.02%), and treasury stocks (54.82%).
The fact that former Chairman Kim Ik-rae holds a 23.01% stake in Daou Data is cited as a variable. However, even if CEO Kim Dong-jun does not inherit the former chairman's stake, he would still exert the strongest control. eMoney Co., Ltd. holds a 31.56% stake in Daou Data, and CEO Kim Dong-jun also holds 6.53%. This means CEO Kim has a total of 38.09% of voting power over Daou Data. In contrast, the Daou Data stakes held by Ms. Kim Jin-hyun and former executive director Kim Jin-yi are 1.04% each.
CEO Kim Dong-jun was appointed as an inside director of Kiwoom Securities in March of last year. In June of the same year, he was appointed as co-chair of the Kiwoom Securities Board. He shares the leadership with Vice Chairman Lee Hyun. In a public disclosure, Kiwoom Securities described CEO Kim Dong-jun as "an expert with a bachelor's degree in accounting, a master's degree in business administration, and experience working at an accounting firm, who can contribute to risk management, including global business and internal controls."
Some in the business community expect that CEO Kim Dong-jun will soon focus on the management of Kiwoom Securities. This is because Kiwoom Securities is the core subsidiary of the Daou Kiwoom Group. Last year, Kiwoom Securities' net profit reached 1.115 trillion won. In contrast, the net profit of Kiwoom Private Equity, led by CEO Kim, was only in the billions of won, and the net profit of Kiwoom Investment was just over 10 billion won.
The terms for CEO Kim Dong-jun at Kiwoom Investment end on March 15, and at Kiwoom Private Equity on March 20. For this reason, the business community is watching to see if he will renew these contracts. Last year, in March, CEO Kim also resigned as a non-executive director of Kiwoom F&I. Although CEO Kim is an inside director at Kiwoom Securities, he is a non-executive director. A non-executive director does not usually commute to the company and only attends board meetings to participate in resolutions on agenda items. Therefore, it is difficult to say that CEO Kim is currently focused on the management of Kiwoom Securities.
Vice Chairman Lee Hyun and CEO Eom Joo-sung are considered the key management executives at Kiwoom Securities. Both of their terms run until March 2027. Consequently, there is speculation that CEO Kim Dong-jun may step to the forefront of Kiwoom Securities' management when their terms expire.
Separately, little is known about the personal life of CEO Kim Dong-jun. While it is known that he is married, the identity of his spouse remains private, and no recent photos of him have been released to the public. Daou Kiwoom Group has not issued any official statement regarding the future path of CEO Kim Dong-jun.