1 Articles for 'Jaewoong Lee'
- 2008/03/24 Founder of Korea's #2 portal steps down
Lee, who still owns about 20% of Daum, was the president and CEO of Daum until about a year ago - but he had resigned from CEO position last September, and now he's no longer the president either.
What's interesting is the speculation that Lee's move might somehow be related to the acquisition rumors surrounding Daum. In the Korean stock market, Daum was the subject of various M&A rumors throughout the past two years.
The fact that Lee is no longer part of Daum's management team suggests the Daum M&A rumors might finally be coming true. So who's buying Daum, if someone does buy the company? We don't know yet - but whoever it might be, the acquirer must be a player that's very determined to compete against Naver, the "king of the hill".
