Seoul: Han Seong-sook, the nominee for the minister of small and medium-sized enterprises (SMEs) and startups, has made the decision to sell her 2.3 billion-won (US$1.69 million) stake in Naver Corp., where she previously held the position of chief executive officer (CEO). This decision comes as she prepares to assume her new role in the government.
According to Yonhap News Agency, Han currently possesses nearly 9,000 shares in Naver, the country's leading internet company. In addition to her own holdings, she plans to divest shares in Hyundai Motor Co. and Samsung Electronics Co. owned by her mother, which will increase the total value of her planned divestment to 2.56 billion won.
This move aligns with regulations that require high-ranking government officials to either sell stocks valued over 30 million won or place them in a blind trust within two months of taking office, aiming to prevent potential conflicts of interest between their public roles and personal assets. Han is also believed to hold foreign stocks in Tesla and Apple, alongside exchange-traded funds (ETFs), though these are not subject to mandatory sale under the current rules.
Han Seong-sook served as CEO of Naver from 2017 to 2022 and was selected last month as the first minister of SMEs and startups under the Lee Jae Myung administration.