Founder Jung Un-ho to Remain as Chairman
Nature Republic founder Jung Un-ho has reportedly stepped down from his position as CEO. The new CEO appointed is Lee Seung-jung, head of the North America business division.
According to Nature Republic on the 11th, the new CEO Lee Seung-jung, born in 1982, is a figure who has achieved significant success in the North American market.
Jung Un-ho, who resigned as CEO, will maintain his position as chairman and continue to serve as the top executive within the company.
Founder Jung is known for his success story launching the cosmetics road shop The Face Shop in the 2000s. In 2010, he acquired 100% of Nature Republic's shares and assumed the CEO position. In 2015, he was arrested on charges including overseas gambling involving hundreds of millions of won and bribery, leading to his resignation as CEO in June 2016. Due to this, Nature Republic's initial public offering (IPO) was also halted.
After his release, Jung returned as CEO in 2020. Recently, through the affiliated company Segye Prime Development, he acquired about 12% of Ssangbangwool's shares, becoming the largest shareholder and expressing his intention to expand the business into the fashion sector.
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