Ourhome Criticizes Gubonseong's Demand for General Meeting... "Unjustified Attempt to Return to Management"

[Asia Economy Reporter Eunmo Koo] Ourhome criticized former Vice Chairman Koo Bonseong's demand for an extraordinary general meeting and board restructuring as an unjustified attempt to return to management.

On the 26th, Ourhome issued a press release stating, "Former Vice Chairman Koo claimed that he requested the extraordinary general meeting to ensure a reasonable sales process due to the company's lack of cooperation in selling shares, but this is not true."

It added, "After the company's first-ever deficit in 2020, we worked hard and returned to profitability within a year, but Honorary Chairman Koo prioritized personal gain by demanding a dividend payment of 100 billion KRW at the March regular shareholders' meeting."

Ourhome explained, "After former Vice Chairman Koo expressed his intention to sell shares through legal representatives, there was no contact until the 8th, when he unilaterally requested due diligence through the sales advisory firm La D?fense Partners."

It continued, "To facilitate smooth negotiations and due diligence, we requested basic documents such as powers of attorney or exclusive sales contracts from the two shareholders via La D?fense Partners, but no documents or proof have been provided so far."

Ourhome emphasized, "We have repeatedly conveyed to the two shareholders that if appropriate basic documents such as powers of attorney are confirmed, we are willing to cooperate with the share sale process. The company remains committed to actively cooperating with the share sale through proper procedures."

Ourhome is a company where the founder, former Chairman Koo Jahak's one son and three daughters hold over 98% of the total shares, with former Vice Chairman Koo holding 38.6% and the three sisters Mihyun, Myungjin, and Jieun holding 59.6% collectively.

Former Vice Chairman Koo was prosecuted for retaliatory driving, damaging another vehicle and assaulting the driver who got out. In June last year, he was sentenced to six months in prison with a two-year probation in the first trial. Subsequently, a dismissal motion was passed at the board meeting, and he stepped down from his CEO position. He is now pursuing a joint sale of 58.62% of Ourhome shares with his younger sister Mihyun.

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