[비즈한국] It has been confirmed that Lee Sang-eun, the elder brother of former President Lee Myung-bak, resigned as the CEO of DAS effective August 12. Cho Jin-hyun, who served as co-CEO of DAS, also resigned on the same day. Former CEO Lee Sang-eun had served as CEO since the company’s founding in 1987, stepping down from the front lines of management after 39 years. Ahn Bong-heon, a former executive at Hyundai Motor Company, has been appointed as his successor.
Former CEO Lee remained active until recently, personally delivering a New Year’s address on January 1 of this year. In his address, he stated, "We are entering 2026, the Year of the Red Horse, a year where power is at its strongest," adding, "Please keep in mind that maintaining character and dignity while making others feel your warmth is a way of conducting oneself and earning respect. I hope you will strive to reflect this in your corporate operations to ensure the company becomes one that is respected."
Born in 1933, former CEO Lee Sang-eun is 93 years old. There is a general consensus that he is of an advanced age to continue leading management at the forefront. BizHankook contacted DAS to request a statement, but the company stated that it was difficult to provide an explanation as they currently do not have a dedicated media relations representative.
With former CEO Lee Sang-eun's resignation, attention is now focused on the future of the company's management. As of the end of last year, the shareholders of DAS were: former CEO Lee Sang-eun (47.26%), Kwon Young-mi (23.60%), and the Ministry of Economy and Finance (19.91%). Kwon Young-mi is the sister-in-law of former President Lee Myung-bak (the wife of his brother-in-law) and the sister-in-law of former First Lady Kim Yoon-ok. The Ministry of Economy and Finance became the third-largest shareholder after Kwon paid inheritance taxes in the form of DAS shares.
Former CEO Lee Sang-eun is known to have one son and one daughter. His eldest son, Lee Dong-hyung, was confirmed to have served as an internal director at DAS from March 2011 to March 2020. His name has not appeared as a registered executive since then. If Lee Dong-hyung inherits the shares held by former CEO Lee Sang-eun, he could secure management control over DAS.
The issue is that the courts previously ruled in the conviction of former President Lee Myung-bak for embezzlement of DAS funds that DAS was, in fact, a company owned under a borrowed name by the former president. Lee Si-hyung, the son of former President Lee Myung-bak, worked at DAS for a significant period before resigning in 2018. If former President Lee Myung-bak or Lee Si-hyung’s side asserts ownership of DAS based on this, the direction of management control could become complicated. There have been no visible moves from Lee Si-hyung’s side regarding DAS as of yet.
Separately, the future outlook for DAS following the change in leadership is also a matter of interest. As the new CEO, Ahn Bong-heon, comes from Hyundai Motor, some analysts suggest that this will have a positive impact on the company’s relationship with Hyundai Motor, its core client. According to audit reports, DAS's revenue increased by 8.46% from 1.8441 trillion won in 2024 to 2.001 trillion won in 2025. During the same period, operating profit fell by 10.76% from 60.3 billion won to 53.8 billion won, making the improvement of profitability a key challenge.