Chairman Seo Kyung-bae's Eldest Daughter Seo Min-jung and Hong Jeong-hwan Reach Divorce Settlement After 8 Months
[Asia Economy Reporter Seungjin Lee] Seo Kyung-bae, chairman of Amorepacific, and his eldest daughter Minjeong, along with Hong Jeong-hwan, head of investment screening at Bokwang Startup Investment, have agreed to divorce about eight months after their marriage.
An Amorepacific Group official stated, "Seo Minjeong and Hong Jeong-hwan have decided on an amicable divorce after careful consideration," adding, "They will remain in a supportive and good relationship."
Hong Jeong-hwan married Seo Kyung-bae's eldest daughter Minjeong in October last year.
Along with the decision for an amicable divorce, the 100,000 shares gifted by Chairman Seo to Hong were reclaimed in about four months.
According to the Financial Supervisory Service's electronic disclosure system, Chairman Seo reclaimed 100,000 common shares of Amorepacific Group that had been gifted to Hong Jeong-hwan.
With this share reclamation, Chairman Seo's stake in common shares increased from 53.66% to 53.78%. Hong Jeong-hwan's stake in common shares changed from 0.12% to 0%.
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Earlier in February, Chairman Seo had gifted 100,000 common shares of Amorepacific Group each to Hong Jeong-hwan and his second daughter, Hojung. At that time, the value corresponded to approximately 6.32 billion KRW based on Amorepacific Group's closing price.
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