The founder and former CEO of Munhakdongne, Byeong-seon Kang, is planning to sell his 41.5% stake in the company. Kang, the former CEO, made this decision to facilitate the new growth of Munhakdongne in line with changes in the publishing market. The sale price is expected to be in the tens of billions of won, and a plan to acquire 100% of the shares is also under discussion. Although Munhakdongne is the largest literary publisher in Korea, Kang, the former CEO, believes that a new business strategy is needed amid the slump in the publishing industry and market changes. This sale is considered a wise choice for the future of Munhakdongne, but concerns are also being raised about the symbolic significance of domestic literary publishing.
