Ministry of Economy and Finance Holds Investment Briefing for National Tax Payment-in-Kind Companies... Hyutech and Jeongsik Food Lead Investment-Type Sales

[Sejong=Asia Economy Reporter Kim Hyunjung] The Ministry of Economy and Finance is accelerating the sale of shares in companies acquired through national tax payment in kind, including Hutech Industry, a manufacturer of massage chairs, and Jeongsikpum, famous for its soy milk.

The Ministry of Economy and Finance and Korea Asset Management Corporation (KAMCO) held the 2nd National Tax Payment in Kind Company Investment Briefing Session on the 25th at the Conrad Hotel in Yeouido. This event was organized to sell the state-owned shares acquired through national tax payment in kind by providing information on the investment-type sale system and promoting promising companies that paid taxes in kind to institutional investors such as venture capital, asset management firms, and securities companies.

The investment-type sale system was first introduced in 2020 to support diversification of demand for shares paid in kind and enhancement of corporate value by encouraging private capital participation in companies that paid taxes in kind. If an institutional investor wishes to purchase a company deemed to have growth potential and investment value among the stocks not sold through public competitive bidding, they can buy at the price evaluated by an external accounting firm.

Shares paid in kind are evaluated once a year according to the National Property Act and competitively bid through Onbid (KAMCO's online auction system). Unsold shares paid in kind can be contracted privately at 80% of the initial bidding price.

Among the 336 shares paid in kind currently held by the Ministry of Economy and Finance, 171 stocks are eligible for investment-type sale. KAMCO selected 56 major high-quality companies considering government shareholding ratio, financial status, and business outlook, and among them, 20 promising companies were categorized. The top six companies?Beomguh Shipping (9.8%), Hutech Industry (30.3%), Turbomax (17.5%), Seonjin Logistics (33.3%), Seonjin SCM (33.3%), and Jeongsikpum (7.9%)?were directly introduced at the briefing session, while brochures were distributed on-site for the remaining 14 companies. The average government shareholding ratio of these high-quality companies is 20.4%.

This content was produced with the assistance of AI translation services.