Honorary Chairman Cho Yang-rae Secures 3.04% Stake in Korea & Company

Jo Yang-rae, Honorary Chairman of Korea & Company, has acquired an additional 0.32% stake in Korea & Company. Hyosung Advanced Materials also acquired a 0.15% stake, positioning itself as a white knight for Jo Hyun-beom, Chairman of Korea & Company.

On the 18th, Honorary Chairman Jo disclosed that he purchased 300,000 shares (0.32%) of Korea & Company on the market on the 15th at a price of 17,398 KRW per share. The total purchase amount was 52.194 billion KRW.

Previously, Honorary Chairman Jo acquired a 2.72% stake (2,583,718 shares) in Korea & Company over six transactions starting from the 7th. Through this, Honorary Chairman Jo's stake in Korea & Company increased to 3.04%.

On the same day, Hyosung Advanced Materials was also named as a special related party of Chairman Jo. Hyosung Advanced Materials announced that it signed an agreement with Chairman Jo for the purpose of jointly exercising voting rights. Hyosung Advanced Materials holds 146,460 shares (0.15%) of Korea & Company.

Following the share purchases by Honorary Chairman Jo and Hyosung Advanced Materials, the stake of Chairman Jo and special related parties increased to 46.08%. This is an increase of 0.47 percentage points from the previous 45.61%.

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