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Douzone Bizon Unveils 'AI/Product Committee' Card at Shareholder Meeting

[비즈한국] Douzone Bizon012510 held a general shareholders' meeting on March 26 and amended its articles of incorporation. One of the key updates is the provision to establish an 'Audit Committee,' 'Compensation Committee,' and 'AI/Product Committee' within the board of directors. While the Audit Committee and Compensation Committee are commonly found in other companies, the AI/Product Committee is a somewhat novel board committee.

Douzone Bizon is an IT company founded in 1977. Its core services include enterprise resource planning (ERP) for businesses and various business software. As the second-largest shareholder with a 14.99% stake in Jeju Bank006220 and a history of pursuing entry into the internet-only banking market, the company is also closely watched in the financial sector. Previously, the largest shareholder was founder Kim Yong-woo. However, EQT Partners (EQT), a Swedish global private equity firm, recently acquired Douzone Bizon for 1.3 trillion won to become the new largest shareholder.

With the change in the largest shareholder, the appointment of new directors was also on the agenda at this shareholders' meeting. Three new outside directors were appointed: Jang Geun-bae, a professor at Handong Global University; Lee Chun-soo, an attorney at law firm LX; and Son Boo-han, a senior advisor at Salesforce Korea. Jonas Martin Goran Persson, a senior advisor at EQT, was appointed as a non-executive director of Douzone Bizon.

It was also confirmed that Douzone Bizon established new articles of incorporation regarding board committees. The new articles state that “by resolution of the board of directors, the company may establish an Audit Committee, Compensation Committee, AI/Product Committee, and any other committee the board deems necessary.” While the Audit and Compensation committees are standard in corporate governance, the AI/Product Committee is a relatively unfamiliar addition.

The AI/Product Committee is interpreted as a move to strengthen AI-related capabilities. Douzone Bizon is pushing to expand its AI-related investments. During its '2026 Vision Proclamation Ceremony' held on March 27, the company stated, “We have clarified our intent to create a virtuous cycle by strengthening product competitiveness through strategic investments—such as expanding R&D and AI investment rather than pursuing short-term profits—and translating this into higher corporate value.”

The outlook for Douzone Bizon's AI business is generally positive. Kim So-hye, a researcher at Hanwha Investment & Securities, projected, “We maintain our view that Douzone Bizon is the only domestic software (SW) company capable of customer expansion and operating leverage due to AI advancement,” adding, “The effect of reducing labor and outsourcing costs through the application of its proprietary AI development tools is becoming visibly apparent.”

However, the specific composition and operational plans for the Douzone Bizon AI/Product Committee have not yet been disclosed. A Douzone Bizon official stated, “As the management system changes, new organizations are being created as part of the process of aligning with global governance.”