[비즈한국] It has been confirmed that Pureun Group has established a subsidiary, 'Pureun Rental & Partners,' for the rental business. While the specific ownership structure of Pureun Rental & Partners has not been disclosed, the fact that Chairwoman Koo Hye-won directly joined the board of directors suggests that the owner family's will is being reflected. Chairwoman Koo is the sister-in-law of Joo Jin-woo, Chairman of Sajo Group. For this reason, Pureun Group is classified as an affiliate of Sajo Group under the Fair Trade Act.
According to the corporate registry, Pureun Rental & Partners was established on March 3 of this year. Its business purposes include: △leasing, wholesale, and retail of automation equipment and machinery; △leasing, wholesale, and retail of electronic products; △leasing, wholesale, and retail of medical devices; △leasing, wholesale, and retail of transportation equipment such as electric motorcycles and charging facilities; △leasing of residential modular units and temporary buildings; and △leasing, wholesale, and retail of household goods. While specific business plans have not yet been disclosed, judging by the scope of its business purposes, it appears the company is pursuing a machinery and equipment rental business.
What stands out is that Chairwoman Koo Hye-won is participating in management directly. Chairwoman Koo has been listed as a non-executive director of Pureun Rental & Partners. Her eldest son, Joo Shin-hong, CEO of Pureun Partners Asset Management, also took office as an executive director when the company was founded but resigned on April 16.
The outlook for the rental business is not negative. Park Jong-dae, a researcher at Meritz Securities, analyzed that "the domestic rental market is expected to grow to 11.773 trillion won by 2030," and added that "competition in the domestic rental market has also recently eased."
However, Pureun Group has no prior experience in the rental industry and is starting as a new entrant. Pureun Group has historically focused on the financial and food industries, and even when expanding the scope to Sajo Group, its operations are centered on food and leisure. The business world is closely watching whether Pureun Group's foray into this new business will be a success.
For Chairwoman Koo Hye-won, a breakthrough is needed. The current atmosphere surrounding the group is not favorable. A 10.4 billion won embezzlement case occurred at the key subsidiary, Pureun Savings Bank, which at one point even raised concerns about potential delisting.
Although the Korea Exchange excluded Pureun Savings Bank from the subject of a substantive review of listing eligibility, preventing a delisting, the challenge of restoring trust remains. Kwak Soo-yeon, a senior researcher at Korea Investors Service, analyzed regarding Pureun Savings Bank, "A certain level of decline in Net Interest Margin (NIM) seems inevitable," and noted that "even if the listing is maintained, it is necessary to continuously monitor for potential deposit outflows."