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Fourth-Generation Kids of Hyosung Group Owner Family Acquires Stakes in Hyosung Corp.
The Beginning of Succession Process?
Fourth-Generation Kids of Hyosung Group Owner Family Acquires Stakes in Hyosung Corp.
  • By Michael Herh
  • December 6, 2019, 12:03
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Six fourth-generation minor children of the Hyosung Group owner family have acquired stakes in Hyosung Corp. worth 4 billion won.

Six fourth-generation minor children of the Hyosung Group owner family have acquired stakes in Hyosung Corp. worth a total of 4 billion won.

Hyosung Corp. announced on Dec. 5 that six children of group chairman Cho Hyun-jun and president Cho Hyun-sang bought a total of 50,168 common shares of Hyosung Corp. from Nov. 27 to Dec. 3.

The chairman's two daughters In-young and In-seo each acquired a 0.06 percent stake while his eldest son Jae-hyun bought a 0.04 percent stake. The president’s two daughters In-hee and Soo-in and his eldest son Jae-ha each acquired a 0.04 percent stake.

This is the first time that all of six kids have acquired a stake. Previously, only the chairman’s eldest and second-eldest daughters had a 0.02 percent stake each. As a result, stakes held by the Hyosung Group owner family members increased from 54.73 percent to 54.96 percent. The company said the group chairman and president gave part of their shareholdings to their kids.