NewsPress Release
August 11, 2005
Daum reinforced the business system of the four sectors
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August 11, 2005 Daum Communications reshuffled its board by appointing the head of sectors in an effort to reinforce the organization of the four business sectors. In order to enhance the efficiency of the management system, Daum established a new management support organization which will be in charge of business planning and support 10 subsidiaries in which Daum has more than 50% of shares.
Daum, which redesigned its businesses into four different sectors earlier this year, plans to restructure the organization, reinforce capabilities and build a robust foundation for growth by appointing the heads of the sectors such as ⊂ Daum Media, ⊂ Daum Commerce, ⊂ Daum Finance and ⊂ Daum Global.
The newly appointed heads of the sectors are:
Seok Jong-hun (former head of the media division) for ⊂ Daum Media including the portal Daum and ‘Namoo Communications (Internet marketing service); Choi Woo-jung (former head of d&shop) for ⊂ Daum Commerce including d&shop (on-line shopping mall), Daum Onket (on-line market place), Tour Express (on-line travel agent); Kim Hyun-young (former head of management planning division) for ⊂ Daum Finance including Daum Direct Auto Insurance (on-line car insurance service) and Daum FN (on-line financial service); Alfred Tolle (former head of Lycos) for ⊂ Daum Global including Lycos in the U.S. and Taon in Japan
The ‘Corporate Center’, designed to enhance efficient management, system operation and synergy creation, will be in charge of business planning and support such as strategic planning, finance, HR, PR and data analysis for subsidiaries including Portal Daum. CEO Lee Jae-woong will head the four business sectors as well as the Corporate Center.
The reshuffle focused on cooperation among the sectors, system reinforcement, synergy creation and efficient management system building. The Corporate Center will make business strategy building linking all sectors and effective use of corporate resources. With newly appointed heads, the business sectors have an improved structure to identify and develop new opportunities.
Daum expects the reshuffle will reinforce its competitiveness while providing integrated services to users. This, in turn, will help Daum consolidate its position as a platform of all contact points of users’ e-life.
Daum, which redesigned its businesses into four different sectors earlier this year, plans to restructure the organization, reinforce capabilities and build a robust foundation for growth by appointing the heads of the sectors such as ⊂ Daum Media, ⊂ Daum Commerce, ⊂ Daum Finance and ⊂ Daum Global.
The newly appointed heads of the sectors are:
Seok Jong-hun (former head of the media division) for ⊂ Daum Media including the portal Daum and ‘Namoo Communications (Internet marketing service); Choi Woo-jung (former head of d&shop) for ⊂ Daum Commerce including d&shop (on-line shopping mall), Daum Onket (on-line market place), Tour Express (on-line travel agent); Kim Hyun-young (former head of management planning division) for ⊂ Daum Finance including Daum Direct Auto Insurance (on-line car insurance service) and Daum FN (on-line financial service); Alfred Tolle (former head of Lycos) for ⊂ Daum Global including Lycos in the U.S. and Taon in Japan
The ‘Corporate Center’, designed to enhance efficient management, system operation and synergy creation, will be in charge of business planning and support such as strategic planning, finance, HR, PR and data analysis for subsidiaries including Portal Daum. CEO Lee Jae-woong will head the four business sectors as well as the Corporate Center.
The reshuffle focused on cooperation among the sectors, system reinforcement, synergy creation and efficient management system building. The Corporate Center will make business strategy building linking all sectors and effective use of corporate resources. With newly appointed heads, the business sectors have an improved structure to identify and develop new opportunities.
Daum expects the reshuffle will reinforce its competitiveness while providing integrated services to users. This, in turn, will help Daum consolidate its position as a platform of all contact points of users’ e-life.
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