April 24, 2024

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[THE INVESTOR] With CJ Group Chairman Lee Jay-hyun expected to stay permanently out of the picture due to a genetic illness, his son Lee Sun-ho, appears to be ready to take part in a succession scheme centering on CJ Olive Networks.

The affiliate was created when CJ Systems -- an IT affiliate of CJ -- merged with CJ Olive Young, a cosmetics and related goods distributor. 

Sun-ho, 27, is the second-largest shareholder in Olive Networks with a 15.84 percent stake. CJ Corp. is the largest with a 76.07 percent stake.

He is now expected to use his stake in CJ Olive Networks to attain more shares of CJ Corp. He currently has no stake in CJ Corp., the group’s holding company, and has a 0.68 percent stake in CJ E&M .

He works at CJ CheilJedang, one of the major affiliates of CJ Group, which he entered in 2013.

The chairman was pardoned this year from embezzlement and other related crimes when his health worsened. He suffers from the Charcot Marie Tooth disease.

Sun-ho got married in April this year, reportedly on the urgings of his father who was concerned about how rapidly his disease would progress. His wife was recently found dead in the US.

By Kim Ji-hyun (jemmie@heraldcorp.com)