Woongjin Group's funeral service subsidiary Woongjin Preed Life announced on the 28th that it has appointed former executive director Mun Ho-sang as the new representative.
Mun is expected to be officially appointed as CEO after final approval at the extraordinary shareholders' meeting scheduled for 12th next month.
Woongjin secured 99.77% equity in Preed Life from private equity firm VIG Partners last month, completing the acquisition transaction. The acquisition price was 887.9 billion won, and the deal was finalized six months after undergoing due diligence and obtaining approval from the Fair Trade Commission since last December.
With the acquisition of Preed Life, Woongjin is expected to aim for stable organizational operation through internal promotion. Mun, who joined Woongjin Preed Life in 2015 after serving as a creative director at Geumgang Planning and CEO of Best Communications, has held various roles, including sales representative and head of the funeral business division.
Woongjin stated, "Mun is a professional well-versed in publicity and marketing, possessing a human network that spans both the business and academic sectors." They noted that he has played a key role in maintaining the company's leading position in sales, marketing, protocol, and funeral home development, which are essential to the funeral service industry.
Following the internal promotion, Woongjin Preed Life is expected to contribute to organizational stabilization and synergy creation within Woongjin Group.
A Woongjin Group official noted, "Mun has a deep understanding of the funeral service business and strong managerial sense, earning solid trust within the company," and added, "In the future, we will further solidify our position as the industry leader through organic collaboration with Woongjin Group."