Korea Kolmar Vice President's Family Disposes of Nearly All Stock Holdings at Offer Price...'Dispute Ends' Kolmar Family's Stake Restructuring Continues

Stock sales by executives and family members of Korea Kolmar are continuing. Following the conclusion of the management rights dispute, as stock prices have risen to historic highs, it appears the owner is overseeing stake restructuring by surrounding parties.

According to the Financial Supervisory Service's electronic disclosure system on the 25th, the spouse and child of Han Sang-geun, Vice President of Korea Kolmar (registered executive), sold 721 common shares of Korea Kolmar on the market over two days on the 21st and 24th. Han's spouse Hong Mi-ae sold 511 shares and child Han Wook-hui sold 210 shares, each at 130,200 to 130,300 won per share, for a total sales amount of approximately 94 million won. The shares were purchased under the child's name at 46,250 won per share in September 2020, realizing nearly triple gains in just over five years.

Following this sale, Vice President Han's holdings were reduced to 605 shares. Under the Capital Markets Act Enforcement Decree, if holdings fall below 1,000 shares, the special relationship with the largest shareholder is terminated; therefore, Vice President Han was removed from the list of special related parties of largest shareholder Kolmar Holdings as of that date. Accordingly, Kolmar Holdings' stake in Korea Kolmar decreased slightly from 26.55% to 26.54%. There were no changes in shareholdings by Kolmar Holdings itself, Vice Chairman Yun Sang-hyun, and Chairman Yun Dong-han.

The sale scale itself is unrelated to management rights. However, the fact that remaining shares were adjusted just below the threshold for resolving special relationships suggests stake restructuring to enable future disposals without disclosure burdens. Korea Kolmar posted record second-quarter results, and with continued institutional net buying, the stock price has reached historic highs in the 130,000 won range.

Stake restructuring around the Kolmar family is not unprecedented. Lee Hyun-soo, son-in-law of Chairman Yun Dong-han and husband of former Kolmar B&H CEO Yun Yeo-won, has been continuously selling Kolmar Holdings shares on the market since early last month, lowering his stake ratio from 3.02% to the 2.89% range. This contrasts with Chairman Yun and former CEO Yun maintaining their shareholdings unchanged. Former CEO Yun stepped down from her positions as CEO and inside director of Kolmar B&H in April and was also excluded from the list of special related parties of the largest shareholder in June.

Meanwhile, Vice Chairman Yun Sang-hyun of Kolmar Holdings has been consolidating control by purchasing Kolmar Holdings shares on the market since May, when the management rights dispute virtually concluded following Chairman Yun Dong-han's withdrawal of a stock return lawsuit. According to industry observers, a clear pattern is emerging where the winning side purchases stakes while surrounding parties restructure their holdings at peak prices, marking a turning point following the dispute's conclusion.