[비즈한국] It has been confirmed that TPC, the second-largest shareholder of DYA (formerly Dayou A-Tech), has recently begun reorganizing its management and business objectives. In addition to recruiting Kim Jong-tae, the former CEO of Genesis BBQ, the company added petrochemical-related businesses to its business purposes. Although TPC was previously a golf course management company, there had been no recent news regarding its business activities. DYA is one of the few companies under the influence of former Dayou Winia Group Chairman Park Young-woo that is still operating normally.
Why the reorganization of management and business objectives?
As the Dayou Winia Group is effectively in the process of dissolution, the family of former Chairman Park Young-woo is focusing on the management of DYA (formerly Dayou A-Tech). DYA is one of the few companies under the influence of former Chairman Park that is operating normally. Former Chairman Park is the largest shareholder, holding an 18.05% stake in DYA, and his second daughter, Park Eun-jin, serves as the CEO of DYA.
Amid this situation, there have been changes in DYA’s ownership structure over the past few years. According to the business report as of the end of 2024, DYA’s shareholders consisted of △former Chairman Park Young-woo (18.06%) △Dongkang Holdings (4.90%) △CEO Park Eun-jin (4.79%) △Han Yu-jin (former Chairman Park Young-woo’s wife, 4.00%) △Dayou Haneul (3.67%) △Pureunsan Arboretum (3.67%) △Youngil-i (3.07%) △Park Eun-hee (former Chairman Park Young-woo’s eldest daughter, 2.76%), among others. Dongkang Holdings, Dayou Haneul, Pureunsan Arboretum, and Youngil-i are affiliates or special-relation entities of the Dayou Winia Group.
However, as of October 20, DYA’s shareholders have been reorganized into △former Chairman Park Young-woo (18.05%) △TPC (15.43%) △CEO Park Eun-jin (5.00%) △Han Yu-jin (4.00%) △Park Eun-hee (2.76%). Dayou Winia Group affiliates disposed of their DYA shares, and TPC rose to become the second-largest shareholder. TPC’s predecessor is Pureunsan Arboretum, which was one of the existing DYA shareholders. Pureunsan Arboretum changed its name to TPC in December 2025.
During its time as Pureunsan Arboretum, TPC operated a golf course management business. However, since the Dayou Winia Group sold the Mont Vert Country Club (Mont Vert CC) to the Dongwha Group in 2023, there has been no news of significant business activity. In the meantime, it increased its stake in DYA by purchasing shares held by Dayou Haneul and merging with Youngil-i. While there were no business operations, it continued its financial activities.
TPC’s former largest shareholder was Dongkang Holdings. However, as the Dayou Winia Group fell into a management crisis, Dongkang Holdings sold most of its assets. In 2025, it sold a 41.49% stake in TPC to a company called Dab Co., Ltd. The Dayou Winia Group did not disclose exactly what kind of company Dab Co., Ltd. is. Given that TPC is classified as a special-relation entity of former Chairman Park Young-woo, Dab Co., Ltd. also appears to be a company under the influence of the former chairman’s family.
It has been confirmed that TPC recently began reorganizing its management and business objectives. According to the corporate registry, TPC appointed Kim Jong-tae as CEO in May of this year. CEO Kim Jong-tae previously served as Vice President of OB Beer, CEO of Genesis BBQ, and CEO of WTRAP Life Environment Research Institute. He had ties to the Dayou Winia Group, having served as an outside director of Dayou AP (currently DH Auto-Lead) from September 2017 to March 2023. In addition, Han Yu-jin, the wife of former Chairman Park, was also named as an auditor for TPC.
TPC changed its business objectives around the same time it recruited CEO Kim Jong-tae. It added sectors including △wholesale and retail of industrial basic chemicals △wholesale and retail of synthetic resins and surfactants △manufacturing and sales of automotive parts △manufacturing and sales of urethane raw materials △wholesale of polyurethane raw and subsidiary materials △manufacturing of polyurethane resin △wholesale and retail of chemical substances and chemical products. These are primarily petrochemical-related industries. However, it has not publicly disclosed exactly what business activities it is preparing.
As of the end of last year, TPC’s total capital was negative 2 billion KRW, indicating a state of complete capital impairment. Its total liabilities are around 4.3 billion KRW. If liabilities are not properly repaid, the company could, in some cases, face asset sale requests from creditors. In such a scenario, the possibility that its DYA stake could be transferred to creditors cannot be ruled out. For TPC, improving its finances and generating its own revenue is essential to protect its DYA stake.
Former Chairman Park Young-woo fails to appear at National Assembly audit
Apart from this situation, public sentiment toward the family of former Chairman Park Young-woo remains poor. This is because wages for employees of former Dayou Winia Group affiliates, such as Winia, Winia Electronics, and Winia Electronics MF, have been unpaid for four years. In February of last year, the court sentenced the former chairman to four years in prison on charges including unpaid wages, and he has appealed the decision. Former Chairman Park was released on bail in September of last year.
The Federation of Korean Trade Unions (FKTU), the Federation of Korean Metalworkers' Trade Unions (FKMTU), and the Gwangju-Jeonnam branch of the Metal Workers' Union held a press conference this September urging former Chairman Park to repay the unpaid wages. Kim Dong-myung, Chairman of the FKTU, stated that day, "Despite being sentenced to four years in prison in the first trial, former Chairman Park Young-woo has consistently shown an attitude of no remorse, let alone efforts to restore the damage." He further criticized, "CEO Park Eun-jin shamelessly gave false testimony at a National Assembly hearing last January, claiming she 'does not know much about overall management,' but evidence has been uncovered showing she gave practical management instructions to affiliate CEOs."
Park Yong-rak, Secretary General of the FKMTU, also remarked, "The victimized workers are still living in painful agony, yet the family of former Chairman Park Young-woo shows absolutely no signs of taking responsibility commensurate with the workers' suffering. We will fight against the family of former Chairman Park Young-woo until the day we reclaim the stolen wages and protect the dignity and rights of the workers."
The National Assembly’s Environment and Labor Committee designated former Chairman Park Young-woo and CEO Park Eun-jin as witnesses for the Ministry of Employment and Labor’s state audit on October 13. However, the two ultimately did not appear. In response, Democratic Party lawmaker Kim Ju-young posted on social media, "I express deep regret over their behavior of evading responsibility for the victimized workers and mocking the National Assembly," adding, "I will make efforts to ensure that both witnesses are present for the comprehensive audit."