[비즈한국] C&P Company (formerly OK Company), the private company of OK Financial Group Chairman Choi Yoon, has relocated to a regular office. While the chairman’s private residence had previously been used as the company's registered address, the firm recently moved into a shared office near the OK Financial Group headquarters. C&P Company is known to be the entity that manages Chairman Choi's personal assets and was the subject of allegations regarding the appropriation of corporate funds during the 2024 National Assembly audit. As OK Financial pushes to evolve into a comprehensive financial group through insurance company acquisitions and the restructuring of its subsidiaries, attention is focused on the background and future operational direction of C&P Company's address change.
C&P Company, a firm 100% owned by OK Financial Group Chairman Choi Yoon and led by his spouse, Atsuko Kimura, changed its headquarters address to an office building on Seosomun-ro in Jung-gu, Seoul, this past August. The new location is a building situated approximately 300 meters in a straight line from the Seoul Chamber of Commerce and Industry building, where OK Financial Group's headquarters are located.
C&P Company’s relocation draws attention because, since 2019, the company had listed its business address at the same location as Kimura’s residence. A site visit confirmed that the company's new office is a shared workspace. Given that the shared office provides spaces starting from single-person units and considering C&P Company has no employees, it appears the firm has moved into a small office designed for one or two people.
C&P Company is a private entity wholly owned by Chairman Choi. It is a financial firm engaged in trust and collective investment businesses, with securities investment as its primary activity. The company changed its name from OK Company to C&P Company in December 2024, at which point Chairman Choi Yoon was added as an internal director. Previously, Kimura had been the sole executive and CEO.
C&P Company does not engage in public business activities, and little is known about it other than its role in managing Chairman Choi's assets. According to its 2025 financial performance, the company reported zero revenue, an operating loss of 100 million won, and a net loss of 38 million won. In 2024, it provided loans to other affiliates such as OK F&I, but even that activity ceased in 2025.
The company’s existence became known in 2022 when OK Financial Group was designated as a large business group subject to public disclosure. The group's structure places founder Chairman Choi Yoon at the pinnacle of governance, with the Choi family, OK Holdings Daebu, and the Japanese subsidiary J&K Capital holding major stakes in the group's affiliates.
The nature of C&P Company was also questioned during the 2024 National Assembly audit. At the time, OK Financial Group was summoned to the National Policy Committee and the Environment and Labor Committee for issues including the circumvention of consumer finance regulations, alleged interference in the management of local financial holding companies, and labor union suppression. When Rep. Shin Jang-sik of the Rebuilding Korea Party asked about the purpose of C&P Company, former OK Financial Group Vice Chairman Kim In-hwan explained, "It is a company that manages Chairman Choi's personal assets," adding, "It is not a company managed by the group."
At the time, Rep. Shin raised doubts about the appropriateness of the company's management, noting that Kimura was known to be a housewife despite being listed as an executive, and that the company’s address was identical to her home. During the audit, former Vice Chairman Kim replied, "There have been no corporate card usage records in the data from the past five years," and "The house is not owned by the company."
Following the National Assembly audit, the OK Financial Labor Union (OK Financial Group Branch of the Korean Financial Industry Union) filed a complaint against Chairman Choi and Kimura in November 2024 on charges of professional breach of trust and embezzlement. The union alleged that the company used corporate funds for housing expenses such as rent while registering the home as the company address, and that Kimura used corporate cards despite not performing actual work or attending board meetings.
When asked if this move into an office signifies the start of business activities, OK Financial stated, "It is merely a routine office relocation procedure, not an expansion of operations," adding, "C&P Company is paying the rent on its own."
Meanwhile, OK Financial is making its presence felt in the M&A market as it pushes to become a comprehensive financial group. On October 7, OK Financial signed a stock purchase agreement to acquire Yebyeol Fire & Marine Insurance, the bridge insurer for MG Non-Life Insurance, through its affiliate OK Next. The Korea Deposit Insurance Corporation had selected OK Next as the preferred bidder in July ahead of the sale of Yebyeol Fire & Marine Insurance. Recently, through its holding company-like affiliate OK Holdings (formerly OK Holdings Daebu), it has also entered the bidding race for the acquisition of the JoongAng Ilbo.
Alongside this, the group is also restructuring its affiliates. According to media reports, OK Financial passed an agenda to change the name of OK Holdings Daebu to "OK Holdings" at a temporary shareholders' meeting on the 13th. This marks three years since OK Financial returned its consumer finance license, effectively removing the term "Daebu" (Consumer Finance) from the name of its holding-level entity. The timing of the name change coincides with scrutiny over the group's past history in the consumer finance industry during the JoongAng Ilbo acquisition battle.
Eyes are also on the group’s governance structure ahead of the financial authorities' major shareholder eligibility review for the acquisition of an insurance company. The eligibility review for major shareholders during a financial firm acquisition typically examines the acquirer's capital strength, financial soundness, and history of violations of financial laws and fair trade laws. In the case of OK Financial, it appears that the review will focus on the chairman-centric governance structure and the capital of the Japanese subsidiary.