[비즈한국] Bithumb founder and the designated controller of the corporate group, Lee Jung-hoon, CEO of Bithumb Asset, has established a new family company. Asel Corporation, founded earlier this year, is a small entity with only Lee's family members as shareholders and functions as a holding company. As Lee returns to the forefront of management after being cleared of coin listing fraud charges, his influence via Bithumb Asset is growing, drawing attention to his family firms.
According to a Bithumb Holdings disclosure on June 1, a new family company for Lee Jung-hoon, CEO of Bithumb Asset, has been added. The added company, Asel Corporation, was established on January 22 of this year. Lee's spouse, identified as Kim, is listed as an executive director, and Cheon Tae-young, a non-executive director at Bithumb Investment, serves as the auditor. Director Cheon also holds audit positions at other Bithumb affiliates, including Bithumb Asset and Bithumb Service.
Asel Corporation lists its industry as 'management consulting and public relations services.' Its stated business objectives include 'investing in subsidiaries through equity holdings and managing or controlling those subsidiaries.' This is consistent with a holding company that does not typically engage in active commercial operations. Indeed, Asel Corporation has only 4 issued shares and a capital of 2,000 won, suggesting it was not established for general business operations. The shareholders consist solely of Lee Jung-hoon, his spouse, and their two children.
Bithumb founder Lee Jung-hoon was designated as the 'de facto controller' of the corporate group when Bithumb was included in the large business group category in 2025. This is why the status of Lee's family and personal companies has been made public. A de facto controller refers to an individual or entity that effectively dominates the corporate group; Lee has long been known as the real owner of Bithumb.
According to Bithumb's corporate group filings, Lee's family and personal companies include Jaedam, Wise Planet, Mathee Flower, Aron Company, OnGuard, and Asel Corporation. Among these, Jaedam is a personal company in which Lee holds a 100% stake. Lee is also listed as a registered director at Jaedam, Wise Planet, Aron Company, and Mathee Flower.
Except for OnGuard, which provides security services, none of these companies generate significant operating revenue. Mathee Flower, Aron Company, and Jaedam reported no revenue in 2025, while Wise Planet recorded 600 million won in revenue but remains in a state of capital impairment. Wise Planet, which was primarily in the financial sector, switched to a non-financial company last April.
Meanwhile, Lee Jung-hoon officially returned to management in September 2025 when he took on the role of the initial CEO of Bithumb Asset (formerly Bithumb A). Bithumb Asset was formed through a spin-off from Bithumb for the purpose of holding and investment, and it handles new businesses, venture investments, and mergers and acquisitions (M&A) outside of virtual assets. The company changed its name from Bithumb A to Bithumb Asset on March 31.
Lee had stepped down from registered director positions at Bithumb affiliates and limited his public activities after facing allegations of coin listing fraud involving the 'Bithumb Coin (BXA Token)' in 2020. However, he cleared his legal risks in March 2025 when he was finally acquitted in the Supreme Court appeal of his criminal trial. Having been acquitted in the first trial, Lee returned as an executive director of Bithumb Holdings in October 2023, and it was confirmed that he was reappointed to this position on March 31.
It was also found that Lee recently won the second trial in a civil lawsuit related to coin listings. Kim Byung-gun, chairman of BK Medical Group, filed a lawsuit in September 2020 demanding that Lee pay 12 billion won, part of the stock purchase price paid for the acquisition of Bithumb, but Kim lost the first trial in September 2024 (Related article: Bithumb's Lee Jung-hoon wins damages suit... Is he cleared of coin listing 'fraud'?). Like the criminal court, the civil court concluded that Lee had not guaranteed the coin listing and that the cause of the listing failure was unrelated to Lee's intent or ability. Chairman Kim appealed, but lost the second trial on May 20.
As Chairman Kim Byung-gun, dissatisfied with the result, filed an appeal on June 1, the damages lawsuit will continue until a final Supreme Court ruling.