[Alpha Biz=(Chicago) Reporter Kim Jisun] Seo Ho-jung, the second daughter of AmorePacific Group Chairman Suh Kyung-bae, sold a 0.16% (153,759 shares) stake in the company, AmorePacific Group announced on the 17th. This is known to be for the purpose of paying gift taxes.

Ho-jung received a total of 2.4 million shares, including 672,000 common shares and 1.728 million convertible preferred shares, from Chairman Seo in May and held a 2.63% stake in AmorePacific Group. Hojung's stake has been reduced to 2.47% due to the stock sale.

The disposal of the shares is said to be aimed at paying gift taxes on shares donated from Chairman Seo.

The largest shareholder of AmorePacific Group is Chairman Seo Kyung-bae, who holds 47.14%. The eldest daughter, Seo Min-jung, is the second-largest shareholder with 2.66% (2.93% common stock and 1.04% convertible preferred stock), while Ho-jung is the third-largest shareholder.

Min-jung, the eldest daughter, has been in charge of the luxury brand division AP team and reportedly took a leave of absence from the company last month for personal reasons.

Min-jung donated 9.5% of her 18.18% stake in Innisfree to the Seo Kyung-bae Science Foundation in June, and the Seo Kyung-bae Science Foundation sold it back to Innisfree last month.

 

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