Kim Hwa-young, the brother of Kakao founder Kim Beom-soo and former CEO of K-Cube Holdings, becomes the second largest shareholder of the automotive parts company CBI, which is listed on the KOSDAQ. Former CEO Kim also decided to join CBI as an inside director.
According to the financial investment industry on the 23rd, CBI announced that it would conduct a paid capital increase worth 3 billion won for former CEO Kim. The Cube Holdings, in which former CEO Kim holds a 50% equity stake, will also invest 1 billion won.
Former CEO Kim and The Cube Holdings will become the second largest shareholders of CBI, holding a combined equity stake of 8%. The payment date is May 30, and the scheduled date for the listing of new shares is June 20.
Former CEO Kim will also take on the role of inside director at CBI along with this equity investment. CBI will hold a shareholders' meeting on June 4 to present a proposal to appoint former CEO Kim, Jo Sung-won, the CEO of The Cube Holdings, and Kim Pyeong, the former vice president of Kakao China, as inside directors. Kim Tae-hoon, the former CEO of WEBZEN Mobile, is listed as a candidate for outside director, while Jo Se-hyun, an adjunct professor at Yonsei University Graduate School of Economics, is named as a candidate for auditor.
Additionally, CBI will propose changing its name to The Cube & for approval at the shareholders' meeting. It will also add business purposes such as ▲ artificial intelligence software development ▲ research and development related to games and AI ▲ AI-based game analysis and operation services ▲ investment and M&A related to games and AI ▲ virtual currency investment business ▲ blockchain-based cryptocurrency trading and brokerage, among others.