Hanmi Semiconductor, Vice Chairman Gwak Dong-shin Donates Stocks Worth 22.5 Billion KRW
Gwak Dong-shin, Vice Chairman of semiconductor equipment company Hanmi Semiconductor, announced on the 1st that he gifted 353,680 shares of his holdings to his second son, Gwak Ho-jung.
Based on the closing price of 63,600 KRW on the 30th of last month, this amounts to approximately 22.5 billion KRW. Vice Chairman Gwak's shareholding ratio decreased from 35.91% to 35.54%, while Gwak Ho-jung's shareholding ratio increased from 0.67% to 1.04%.
It is common for corporate owners to gift shares to their children when they believe the stock price is undervalued. Since July, Vice Chairman Gwak has invested about 21 billion KRW to purchase 388,000 shares of the company’s stock. He is believed to have decided to gift shares based on the judgment that Hanmi Semiconductor’s stock price is undervalued and will increase in value in the future.
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At the end of last month, Hanmi Semiconductor shipped the first unit of the 3rd generation hyper model ‘DUAL TCBONDER GRIFFIN,’ an essential process equipment for HBM (High Bandwidth Memory) used in artificial intelligence (AI) semiconductors, to a global semiconductor company.
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