[Alpha Biz=(Chicago) Reporter Kim Jisun] Koo Hyung-mo, vice president of LX MDI, the son of LX Group Chairman Koo Bon-joon, is increasing his stake taking advantage of a drop in stock prices of its holding company LX Holdings.

According to the Financial Supervisory Service's Electronic Disclosure System (DART) on the 20th, Vice President Koo purchased 3,536 shares of LX Holdings for 8,197 won per share on the 5th of this month.

As a result, LX Holdings shares held by Vice President Koo increased from 9,266,212 shares to 9,269,748 shares. The stake is 11.92%, the second-largest shareholder after his father, Chairman Koo Bon-joon (19.99%).

The 5th, when Vice President Koo purchased the stake, is the lowest day in the past two months. Vice President Koo previously intensively purchased stocks at a time when stock prices fell.

He bought 161,910 shares of LX Holdings on a total of 16 occasions in two months, including six in September and 10 in October last year. At that time, the purchase price was between 8,182 won and 8,282 won.

Usually, the purchase of shares by major shareholders' families or management during the period of falling stock prices is interpreted as responsible management to boost stock prices.

However, it is evaluated that Vice President Koo's purchase of shares has a strong intention to pave the way for management succession. This is because the succession structure, led by Vice President Koo, is also rapidly underway at the group level.

After joining LX Holdings as managing director in May 2021, Vice President Koo was quickly promoted to executive director in March of the following year and vice president in December of the following year, and is the CEO of LX MDI, which was established at the end of last year to take charge of management consulting within the group.

In addition, 8.5 million shares of LX Holdings held by Vice President Koo were donated from his father in December 2021.

The business community predicts that Koo's younger sister, Koo Yeon-je, will soon participate in the management. Koo Yeon-je is currently working as a team leader at Magellan Technology Investment after Pan-LG completed its internship at venture capital LB Investment.

LX Group is seeking to add financial services to its business purpose last year and establish venture capital, and it is observed that Koo Yeon-je may join before and after the establishment of venture capital. Koo Yeon-je is currently the third-largest shareholder with an 8.62% stake in LX Holdings.

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