KOSPI-listed company InskoBi announced on July 31 that it has transitioned from a co-CEO system led by Yoo Insu and Koo Jagap to a sole CEO system under Yoo Insu.
The CEO replacement aims to unify the decision-making structure, thereby increasing management efficiency. At the same time, it is intended to focus InskoBi's capabilities on its new business in the digital asset sector. Additionally, the change is meant to enable a swift response to the rapidly evolving global business environment for cosmetics, which includes expanding into the Japanese, Taiwanese, and Indonesian markets as well as launching an MVNO service in the Canadian wireless communications market.
InskoBi, which has begun developing a blockchain technology-based local currency, has completed business agreements with blockchain technology companies Parameta and SymVerse Labs, as well as with Boom Communication, a company specializing in artificial intelligence (AI) platforms.
On July 23, InskoBi signed a strategic business agreement with Iksan-si, Jeonbuk, for the advancement of blockchain-based local gift certificates and the issuance of local currency. This agreement with a local government is the first of its kind in Korea, and InskoBi is currently discussing additional agreements with other local governments.
Meanwhile, InskoBi's MVNO brand 'Pretty' will begin offering services in the Canadian wireless communications market starting August 1.
Additionally, the 'Coral Haze' cosmetics line has been receiving an explosive response from MZ generation consumers in both Japan and the United States, contributing to InskoBi's management improvement. CEO Yoo Insu plans to leverage his accumulated management expertise to directly lead key businesses on-site and drive the company's second leap forward.
CEO Yoo Insu stated, "By shortening the decision-making structure, we will be able to respond quickly to changes in the new management environment and maximize management efficiency," and added, "We plan to focus on the digital asset sector, as well as the MVNO and cosmetics businesses."
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